Date:
January 28, 2016
To:
All Cameron and OneSubsea Senior Leaders
From:
Steve Geiger, Vice President and Chief Administrative Officer
Re:
2016 Salary Planning Process and New Travel Approval Requirements
As you are aware, the energy market continues to decline, which is having a significant impact on our industry as our customers scale back operations and capital spend even further for 2016. In 2015, we saved close to $100 million in non-employee SG with a preferred booking timeline of 14 days to help ensure lower rates.
- Travel Purpose: All Cameron and OneSubsea employees are asked to be very diligent in determining any needs for travel. Travel approvals should be limited to revenue-generating, cost-reduction and critical management activities. All discretionary travel must be restricted.
Cameron and OneSubsea employees are encouraged to continue exploring alternatives to physical travel, such as teleconferencing.
Please make your teams aware of these updates as soon as possible. These actions will help continue the ELT’s focus on minimizing any reduction in force. Your leadership in supporting these efforts is expected and appreciated.
Thank you for your continued commitment to Cameron and OneSubsea during these challenging times.