20% staff reductions planned, mostly in Houston. The market will be saturated with out of work Cloggies.
11 replies (most recent on top)
The sad part is that the exploration geo-type crowd are now slowly being eliminated. Take a look at their professional organizations (AAPG, SEG), their memberships are plummeting and the organizations are slowly financially failing.
It's the beginning of the end...
Plus, the UN is going after the carbon credits scheme. If that drys up so will a lot of the Carbon Management. We are an oil company and the whole scheme is being used to flow money into the hands of companies and the rich get richer.
Don't they have an "engine" already? Isn't that the answer to efficiency?
Sounds like winning! They know exactly what to do and waste no time!
Shell has declined to comment on the rumors to Reuters.
Shell shares rose 0.6% to 2,712.50 pence on the London Stock Exchange on Thursday.
Once one starts the layoffs the other follow suit.
The answer is always 20%. If it must be, let's just hope that this time the reduction is strategic rather than just trimming 1/5 off evenly system wide.
MW has supposedly already had a couple questions come in from external analysts asking if we are looking at this given the poor performance of both groups...
Reductions are going to hit the UK and Netherlands too.
Bet we magically land on 20% too (after thoughtful and detailed analysis, of course)