I know that Finance and HR layoffs going on at the moment. HR being completely wiped out and sent to overseas. Any word on the street ? Any other groups feeling the pain?? I thought we were good at 60$ a barrel
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I’m starting to see new college graduates around. I thought She’ll was laying off, not hiring. Anybody knows what’s going on?
Quiet layoffs to slowly start to bring in new hires not under pension plan. Chevron did this over 10 years ago and now Shell is doing it to save money.
Don’t want H1B staff either as sponsorship costs money on corporate administrative back end. Not sponsoring people anymore for those and HR not even interested in people willing to work on local terms to do their own papers at cost. Unfriendly environment for H1B visa staff right now.
Focus now is getting rid of the over 40 crowd, expats and people in grade 2 and above. Trying to save money. Across board dropping job grades to save money on bonus. Want more grade 4 roles doing daily work. If you’re grade 1 or 2 then likely over time you’ll get the boot to have grade 3 or 4 pick up your work. And if you’re 3 or below good luck getting promotion in future. Advancement opportunities are narrowing.
Moving all the “support” jobs overseas to save money which increases work load on front lines. Also stopping pensions for new hires and getting rid of people with pensions, not just 55+ crowd anymore because each year person with pension plan stays more have to pay. Trying to do change out to reduce staff with pensions. Even some of formerly untouchable G-grade hires being let go. Overall goal is to reduce pension $ drain.
40% layoffs in finance just heard
Get rid of the 50+ they're just dragging us under.
Well then adios Ben - you dolt.
Shell is cutting 55+
Meanwhile they tell us that unemployment in the US is waaaay down. What a joke!
@fmxu they already H1B lawyers despite the fact that there are many lawyers in this country that are unemployed.
Why not H1B all other fields also. Why stop with IT? We should H1B engineers, and any technical related field. Also, why not H1B lawyers too?!? No one can’t afford a $300 an hour lawyer. H1B can be trained to learn any field. The quality of work won’t be the same, but who cares, is all about cheap labor
Wack
ALL companies now have learned that the HB-1 worker is cheaper and easier to manage over the post 50+employee.
This is the unwritten rule of today’s business.
At some point they will cross that age bridge.
ALL companies now have learned that the HB-1 worker is cheaper and easier to manage over the post 50 employee.
This is the unwritten rule of today’s business.
At some point they will cross that age bridge.
Are you sure about the business analysts? what will be left in IT? everything seems to be outsourced. Bangalore is receiving so many roles they need to bring some to the US.
I have heard talk of the business analyst teams being outsourced overseas. either to India or the Philippines.
Those roles can easily be outsourced because they are largely based on generic knowledge/skill sets; unlike an engineer who has to learn specific items to the role he/she has attained.
Look at the 10-year horizon and oil demand expecting to drop sharply. That's why oil operators and service contractors are laying off and going cheap....they are heading for a steep decline. The price of oil today is a mere distraction to what is ahead of the industry. Time to jump ship if you think you won't survive the cuts but expect to be squeezed if you stay.
HQ determined HR have no answers and is staffed with a bunch of risk averse, underperforming bureacrats. Big time layoffs (thankfully) underway to purge this drag on cash flow. For every dozen HR wonks we get rid of, we have enough to frac a 2000 bopd well in the Permian. At $60/bbl, that's a no brainer. I say we get rid of all the worthless HR business consultants...
Just about every major corporation is doing this too. So prevalent is it that employees everywhere have coined the term, "Stealth Layoffs."
A few dozen here, a few dozen there, no announcement, all hush hush. It's a bit creepy, like corporations are desperately trying to hide their fall and doing it as a coordinated agenda.