This Tuesday Kimray announced another cut - 10% of us will be laid off - Hill had hard time deciding here but this is what needs to be done...
There will be a severance package for folks who are losing jobs and they will offer job placement assistance as well but I am not sure how that is to work as there are no jobs and every single company in the industry is cutting resources right now.
I hope things turn around in 2016 but it looks like it will get worse before it gets better. God bless.
I am not with Kimray, I think they have about 1000 employees, so 10% is big but still not too big for OKC, as Devon just cut 2000 people, 100 folks from Kimray is not that big. Also, back in 2015 they had an offer out to all employees where they would get paid to leave - not many companies were as fair as this.
For that, I salute Kimray's leadership
It's pretty ugly in OKC, Devon, CHK, Kimray, pretty much all big guys (HAL, NOV, etc.) - all are laying people off. Dril-Quip got hit really hard