Yesterday very deep cuts across the western payrolls were restarted. At least 60 families. This is supposed to continue through the end of the month (rest of the week).
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The last batch was projects. Makes sense for a company with grand plans but no capital in a place where it costs three times more and takes five times as long to build something than anywhere else.
Current batch is SAMSO and Aviation, after which they will start cutting in production and operating facilities. The US/Canadian/Brit pool is shrinking quickly - not many left and a lot of them pulled the ripcord on their own.
It's going to affect the schools soon. No use having good US teachers for the students who are left - they probably need to look into what it will take to build their own schools like the Americans did. Good luck partnering with the Saudis for that.
More like reducing payroll costs - fire high rollers, and replace with cheap labour, only problem is most of new recruits do not have the relevant experience. While there are legitimate vacancies, instead of looking to fill these internally, the way they put people into boxes, and disregard their experience with managers not willing to release people, means they have to recruit outside, to the detriment of both the company and resulting redundant individuals - a true and proper c---up.
But they are still hiring! New hires arrive on camp regularly. Is it a performance issue for the layoffs?
Will hit those departments that have been taken into JV's - onshore and offshore, with all other associated areas. Time they hit areas of housing, training and HR, as add no real value with most of finance being left till after IPO. Makes sense to move probationers on.
I heard PMT
So which Departments were affected? It seems very quiet and no gossip on camp.
Next week - 100+ employees and families are marked for the next round. Starting Sunday. Buckle up and good luck to everyone!
I only heard of one so far _
How long between notice to leave and actual leave date ? - How long have you been in Aramco ?
Was the separation terms and benefits generous ?
I am one of them. Just came back from expat vacation on August, and got notice to leave. Just look at parking in Ming or Mango areas. Before, the cars are not easy to find a parking, but now it is So...empty. Anyway, life goes on.
Hmm, yes I heard the same number. Looks like a summer break then a restart. likely an attempt to shore-up financials before the IPO debacle.
Oh well at least the majors are starting to be profitable as again....
Hmm, yes I heard the same number. Looks like a summer break then a restart. Looks like an attempt to shore-up financials before the IPO debacle.
Oh well at least the majors are starting to be profitable as again....