Saw a couple more let go from PTS on Friday. Promptly updated my CV.
Looks as if it is time to find alternatives, it is no longer worth death by 1000 paper cuts.
Starting to see larger numbers of people resigning. New plan is to follow them shortly.
Doubt I will regret making a change.
The oddest thing about the Richmond campus layoffs is that they don't seem to follow much of a pattern. Good people, bad people, highly paid, lowly paid, young, old, experience, no experience, male, female, black, white, nobody's safe.
They will have NO capability to respond to the market when the oil prices increase. None. New entrants will eat away at their market share, and the new entrants will likely be piloted by us ex-SLB people who would not mind seeing SLB suffer.
Really everyone in the oil industry should follow Dave Ramsey's advice and have a paid-off house, paid for cars (no loans, no leases), no credt card debt, ant LEAST a six month emergency fund. A year long emergency fund might be better.
Don't get caught up in it. Advice from above is correct. Live on one paycheck. Do not live above your means. Save. You can survive any Down turn. I did.
Be sure to turn your career into a " job" status.
No company is worth it. At the end all employees are numbers and will have to terminate one day in some fashion.
When it happens for you, be sure they pay you and you are ready. Do it on your terms.
Have some compensation that vests next month. Really only waiting until I can claim that to make my way out the door.
Smart man, you see things happening and take action. I can't stress it enough; always live as if you job could be gone tomorrow, can your family pay the mortgage on one income, etc. etc. Things turn on a dime these days. Be prepared.
50% PTS cut in Denver, Midland and CA and more happening soon