I was racing with Conoco whether I'll get laid off sooner or get a new job. Unfortunately, I got laid off sooner than I found a new job.
After 14 years here... I have some savings, so for now I’m still not in big trouble, but I’m slowly becoming desperate because companies no longer employ my generation.
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Over the course of a career each generation is selectively culled until those in power are satisfied that their positions are secure. 50 years ago, experience was revered and the compensation framework reflected the company’s objectives to retain these valuable, loyal experienced employees. The defined pension plans were designed to keep these employees from leaving during the very productive part of their careers occurring after 45. Today those programs have been eliminated and if you haven’t reached SGL 19 by age 40, then you have no real career ahead of you. Your experience is seen as a threat and you must leave. The Leadership Forum sleeps more soundly in your absence.
Well said 2edu. Companies across all industries are doing everything legal and borderline legal that they can to reduce labor costs, ultimately in order to shift that wealth into their own pockets and those of others high on the org chart. While proving running afoul of law is difficult, I see most co’s as engaging in illegal means to reduce costs. Illegal by the spirit of the law, if not the actual letter of the law. But it too happens. Our government is lax on enforcement, and too easily appeased by the lame, fake excuses offered by the corporate world that allow them to dodge the laws. I’d be more specific about who else corporate America has declared war on, but I know my post will get cancelled. In any case it’s disgusting. Look at the change in income for the average American vs corporate exec types over the last 30 years. We’re all going to get older, but as long as the few elites have their $ coming in, and they have the ears of the politicians, it won’t change. The 99% be da$&ed!
End of rant
All industries have declared war on people over 40., Five years from now the new victims will be people over 35. The future is not necessarily designed for people to work, only consume.
Don't overlook the fact that the oil industry will be dead in 10-15 years which suggests the lifeboat shortage on this industry of sinking ships is far worse than can be visualized.
Anyone with oil industry focused skills is looking at an unprecedented situation and the sooner you realize there is no pre-existing set of rules on what to do the better off you will be when the water starts forming around your shoes.
I was let go at 42 and felt like you did. I decided to go back to college and earn a degree in an entirely different field. It was hard and a true struggle at times with the responsibility of a home and children still. BUT it turned out to be one of the best decisions I ever made!! The payoffs were huge and I am so much happier at my job now. Sometimes change is a blessing in disguise!!
COP declared war on older employees by cancelling their regular plans and going to HD Plans.
The only explanation I received was a casual email saying that 'They are Expensive'. That was the long and short of it.
From that moment on I didn't give a whit about COP and laughed all the way to the bank. I'm sure that is lost on these guys.
1wog, and for #%*^ sake don’t go waste another 5 years of life getting a PhD with expectations you’ll get back in the industry. You’re then even more specialized and pigeonholed. You’re then even more likely to passover good alternative jobs you could be a strong candidate for, while endlessly applying to industry jobs similar to what you had. You’ll spend years holding out for the next job that is just unlikely to happen. Sad, but once you’re in your 40’s, and in this environment, it’s very unlikely to happen. Lick your wounds, lift your head up, and MOVE ON from this industry.
Where? Any industry or role that offers interesting work, challenges you, uses some of the many transferable skills you’ve picked up. Where not to go? Please don’t waste your time, money, effort, to the pipe dream of gaining employment in this industry again. Mourn the loss and move on.
Very wise advice
This is a common problem in all industries. Your chance of landing another job depends more on your specific discipline and the depth of your network. Some disciplines, like engineering and geoscience, necessitate having personal contacts in other companies. There are literally tens of thousands of unemployed E&P professionals in the world today, so every advertised position will be inundated with hundreds to thousands of applications. Obviously, humans are not going to read every application. They'll rely on software to filter out 95% of the candidates and focus on the few that appear interesting, at least on paper.
So, knowing someone at such a company can give you an tremendous advantage that may get you a first interview. After that, it's really up to you to seal the deal. But whatever your situation, please start thinking about taking your skills and interests in a new direction now (Plan B), and set a hard deadline for landing a new gig, after which you will implement Plan B. I've seen too many E&P professionals blow their life savings waiting endlessly for that next opportunity that never happens.
There is a place for you. Go find it.