With whispers of the Blue Hydrogen project pushing out FID, that project keeps the lights on at the Houston office. If the project is mothballed, what other projects are on the horizon to keep the Houston office busy?
With oil prices dropping, green energy subsidies drying up, and large capex projects getting pushed further and further out, its going to be a game of musical chairs to remain billable. I don't see any other way around a wave of layoffs.
Top this off with their new focus on GID/low-cost-center engineering (offshoring) it seems like Worley is gearing up to whack the majority of their Houston engineering division, and have it only be there to simply check the work of GID, and GID will be at the driver seat for most projects.
Am I right, or am I right?