My Boss just told me it may not be over. Do they HAVE to wrap this up by a certain day? He said some things are in flux..... But I would be OK.
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Seems like way less than the promised 25% has happened
I only forgive this question if you have been in the workforce for less than three years.
Otherwise, get your head out of the sand. These cycles have hit us in this industry for longer than any of us have been working here.
@d9 XOM here - you are correct, peers can't resist Darren's aura and love of 10%/yr culls for "performance & fit". welcome to the annual contract
They are never done. What began in 2015 will continue in large and small cycles. It's the new Exxon-Lite business model of trimming the headcount every year or so. Get used to it. It suxx but it's the new normal and has been for a decade.
No, we are not sure the layoffs are done.
2 pay grade cuts is still a lot more than everyone else in the industry pays sans EOG, OXY, and a place where reservoir personnel don’t exist- Cheniere. So good luck. CVX, XOM, RDS, and BP don’t pay what you think they pay unless you are a SGL 22.
Had a person on my team get offered a pay cut at OXY earlier in the year so there’s that.
Before you deny the decline the cut just check out the pay scale at Nabors, SLB, Weatherford, NOV and Enterprise for good measure. Eye opening to say the least.
Sounds like a pretty cr-ppy company to work for if they force you to move or lower your pay grade. My reaction would be the middle finger to all of them.
@a7 reread the FAQs. If they cut your pay 2 grades or more, you get a severance if you say no. If it's only 1 grade, then you quit and get nothing. Also if they offer you a position in another city without relocation (say Midland to Houston), you can say no and get a severance. If they offer relocation and you say no you quit and get nothing.
@a5 EOIs are complete. Those offered new roles next week who refuse won’t be getting severance. It’s laid out in the FAQs they sent out.
Blood in the halls. It won’t be fun returning to what was. Setting up for sale as we are overpriced for what we have. Debt load is an offset. RL has sold his stock and is ready to retire with a fat parachute.
It's technically done but a lot of people are getting moved to different, lower paid positions. Those people have a difficult choice to make. Huge pay cut or EOI, basically. Maybe that's what your boss is talking about? Don't know how much time they get to make a decision. International cuts might still be happening, also.
It’s the O&G industry, we’re never really done. We’re just here until the next one rolls through.
Nobody has or will ever know S about f at this place