Nobody should be suprised by coming layoffs. Considering everything that's been going on in the industry and the entire world's economy, something like this was bound to happen sooner rather than later. I'm not holding this against Shell, I am aware that this is something that had to happen. And if I'm on the list, so be it. I just hope everybody saw this coming and is adequately prepared in case they are affected.
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Ben is the Bill O’Brien of oil and gas. He’s the id–t making all the dumb moves that k–l the organization. Everyone can see it, but the people he reports to (the board). Hopefully they wake up and fire his azz like the Texans did with BOB.
Shell stock hits 25-year low following rollout of green initiatives
Yep. Bangalore staff is getting hired quickly even as layoffs loom. Heard in a web cast that SBO locations will grow. We know that means our jobs are getting shipped to Bangalore or Manila because the cost is much cheaper. You get what you pay for Ben.
True. An outsourced position is not a cut, but a job lost in NA or the EU to Asia or India. Expect more than 9000 to be looking for work elsewhere.
Numbers are misleading. What is not counted are the increasing number of jobs that will be offshored to Shell in India (Bangalore or Chennai) or Poland or Philippines. These will still be "Shell" staff but fills the executives, snr management and shareholders with bigger pockets as labor is cheap. Looks better on the books as bigger profits.
We now know the broad brush strokes, but does anyone know when we might find out if we are going to be laid off or not?
https://seekingalpha.com/article/4377357-why-stock-of-royal-dutch-shell-collapsed-near-25-year-lows
Meanwhile the stock price continues to tumble.....
There is plenty of life outside of Shell, and O&G believe me.