Pioneer has definitely made the move away from long-term employment by its core specialty groups towards the current High Tech business model of GIG employment; where the Geologist, Landmen, Drillers, Workover, Accounting all the core functions to operate an oil company will be a labor contracted to employees that work for themselves. The GIGGERS will be paid a set dollar amount per day and out of that will come Federal income Tax, Medicare, Social Security; there will be no free meals, no daycares, no company cars, no vacations, no PTO, no 401K, and no stock options. The GIGGERS will be managed by a very small Pioneer employed staff that will orchestrate the land leasing, drill site preparation, drilling, well completion, fracking, production, workover, and plugging the end of life wells. People will be called to work based on immediate needs and the price of oil. There will be no more layoffs, staff will just be informed not to come in that day or anymore. HR will greatly shrink because you are not managing thousands of people. If oil collapses, the employment base can collapse overnight with it. I believe this is the future because today's oil companies failed miserably to manage a commodity based oil with its ups and downs. Employment will default to the individual responsibilities. IS THIS THE FUTURE VISION OF THE PATCH?
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PXD’s. Problem is too many Aggies!
The “GIGGERS” you mention often have skills developed over decades. They are not like Uber drivers or sales clerks. Which industries do manage their business we’ll during ups and downs? Coal mining? Airplane manufacturers? Financial services? All are subject to devastating layoffs. Always remember, maximizing shareholder value is what drives our company. This means you sacrifice the long term for the short. Perception to Wall Street becomes everything (1,000,000 in ten, open chokes, relentless drilling, etc).
Uh, no