I have been assuming a 20% cut, but our peers and most other companies in the industry are cutting much deeper (40% and more). What do you think they will do?
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40% is completely inaccurate. It was a 20% RIF which was roughly 250 people - that includes the Plano corporate office and the field.
Well the let go 240 yesterday and 250 today . My husband being one of them so I'm guessing 40% cuts . It ducks but they are just trying to survive
Agreed. I know from talking with several peers, the anxiety is becoming an issue. I know from first hand experience I've woken up in the night in a panic. I've settled down over the weeks because, if I'm on the list, there's nothing I can do about it at this point. However, the longer we wait, the more stressful it becomes for others. It's not even a secret! We all know it's coming so it's like, can we just go ahead and get it over with so we can either move on or rest a bit easier until at least the next ball drops. Either way, this waiting game and the rumors just defeat morale and production.
I hate the gossip I hear outside my office. I can't concentrate on my work because my anxiety starts getting the best of me. Wish all this would just be over already!
Whispers around the office are that the RIF is coming next week. after earnings release and before quarterly meeting. Still no idea how many will be cut. Any guesses?
Another big question is "when"...
Hope it's 20%.Lifting costs have to be higher than oil price. Just wonder how much more water can take on without going under.