2021 layoffs MEGA THREAD (Part 9, by popular demand)

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Originally Posted by Disoblige

It is true, you have to really be around the block to become comfortable being in those types of positions. And in order to be comfortable, you either have to be super delusional about your own skills and abilities, or you actually did your time and know stuff.
How many falls in the former, and how many fall in the latter is the question.

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I would say the vast majority fall into the latter category. Aside from the odd exception, the only reason "normal" people think there's a former category is due to delusions of their own abilities or other forms of tall poppy syndrome. Before Buster says it, this is far worse in Canada.

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Originally Posted by killramos

I just find peoples fascination with executive pay to be comical.

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Do you mean the general population's lamenting of an executive compensation? Like making $800k salary / ~$2mm in total comp to helm a billion dollar organization with 2,500 people is "no big deal" and the comp is not even a rounding error...

Something like that yes.

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Originally Posted by killramos

I just find peoples fascination with executive pay to be comical.

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Me too, I work in the field and when I see the comments on Herald articles I just give my head a shake. That is just one step below the complaints that people have about AHS Exec/Government compensation.

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Originally Posted by killramos

Are thousands actually qualified / the people you want steering your ship though?

People massively glorify how great CEO / executive positions are.

Most of us wouldn’t last a week or have the stomach for it regardless of how attractive the pay check is. And frankly almost none of us have what it takes.

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Is Tableau a requirement for CEO?

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Originally Posted by flipstah

Is Tableau a requirement for CEO?

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The ability to understand a tableau chart is

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Originally Posted by killramos

The ability to understand a tableau chart is

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Oooof

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Originally Posted by Neil4Speed

Me too, I work in the field and when I see the comments on Herald articles I just give my head a shake. That is just one step below the complaints that people have about AHS Exec/Government compensation.

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Haha they have to bend it to make headlines! But yes, unfortunately a large majority of people don't know how to interpret it.

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Originally Posted by killramos

The ability to understand a tableau chart is

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Attachment 97469

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Originally Posted by killramos

Wow. That is pretty out of left field. I’m guessing not enough layoffs for a PR.

VII is around 150 employees but pretty technical, my guess is 20-30 layoffs on their side short term the rest by attrition?

Unless my understanding is wrong on their head count?

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I've talked to a few people about this and this merger/acquisition doesn't make much sense. They have entirely different corporate cultures and there aren't many synergies between the two companies besides that they are both Montney players. I guess it does fix up 7G's balance sheet but I'm not sure what ARC gains besides maybe its Hal Kvisle flexing that they are the biggest Montney guy around? That being said its also very possible that I'm completely missing something and have no idea what I'm talking about.

I’ve heard 7G’s D&C is hot garbage. So curious how this whole thing goes.

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Originally Posted by schurchill39

I've talked to a few people about this and this merger/acquisition doesn't make much sense. They have entirely different corporate cultures and there aren't many synergies between the two companies besides that they are both Montney players. I guess it does fix up 7G's balance sheet but I'm not sure what ARC gains besides maybe its Hal Kvisle flexing that they are the biggest Montney guy around? That being said its also very possible that I'm completely missing something and have no idea what I'm talking about.

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Russians were sniffing around which is another thing I heard that pushed this forward. That’s probably bullshit though.

I don't get this Russian sniffing in Canada gas. I think it's the steal tech because Russia has a ton of their own gas.

Agreed that this merger didn't make much sense.

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Originally Posted by Neil4Speed

Me too, I work in the field and when I see the comments on Herald articles I just give my head a shake. That is just one step below the complaints that people have about AHS Exec/Government compensation.

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We do need that caliber of talent to run AHS. Debatable that they're actually doing a good job.

The Russian rumors are hilarious. I mean in terms of getting access to technology, there's a few canandian service companies already selling to them, and several more trying like hell to do so.

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Originally Posted by schurchill39

I've talked to a few people about this and this merger/acquisition doesn't make much sense. They have entirely different corporate cultures and there aren't many synergies between the two companies besides that they are both Montney players. I guess it does fix up 7G's balance sheet but I'm not sure what ARC gains besides maybe its Hal Kvisle flexing that they are the biggest Montney guy around? That being said its also very possible that I'm completely missing something and have no idea what I'm talking about.

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In my opinion your post states exactly why it does make sense - they are both major Montney players which in itself comes with tons of synergies, cleans up 7G balance sheet, and allowed ARC to take advantage of the downturn. Cultural fit is not really a consideration for A&D.

In a large organization there's usually varying cultures within different groups anyway. They could have D&C (for example) run a very different culture than the asset teams. There's a few beyonders who work at companies where this seems to work okay. And having one group that's know to be "a mess" is actually a great opportunity for improvement. Shitcan the low performers and problem individuals, install better management and process, profit.

Round 2 of the CVE layoffs were just announced to be going ahead next week. I'm thinking this will be slaughter time for HR and Procurement.

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Originally Posted by engibeer

Round 2 of the CVE layoffs were just announced to be going ahead next week. I'm thinking this will be slaughter time for HR and Procurement.

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thoughts and prayers.

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Originally Posted by engibeer

Round 2 of the CVE layoffs were just announced to be going ahead next week. I'm thinking this will be slaughter time for HR and Procurement.

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Ouch. All the best.

Apparently these layoffs have started now.
Heard 800-1000 heads.

9pm layoffs is actually a great idea.