Has your company / office laid people off?

[msommers]

Had lunch with a couple senior guys today. I asked if they knew of friends or anyone personally getting laid off and both said no. Guess it depends who you talk to.

[BigMass]

Originally posted by msommers
Had lunch with a couple senior guys today. I asked if they knew of friends or anyone personally getting laid off and both said no. Guess it depends who you talk to.

even during the great depression there were plenty of people with jobs making good money. Higher up the ladder you go, the safer you are.

[Shanghai Kid]

More people laid off today from Husky.

[Canucks3322]

Downtown office? ?

[desi112]

Originally posted by Shanghai Kid
More people laid off today from Husky.

It's true sadly any details?

[Shanghai Kid]

Originally posted by desi112

It's true sadly any details?

Don't really have any knowledge on the total numbers for this round. The higher-ups have been reluctant to share any information with us.

Very frustrating but I guess I should be thankful that it wasn't me.

[Khyron]

Originally posted by Xtrema

If they are burning $40B a year and have $700B+ on hand, how many year they can burn it through before they have to freak out?

This is why I think everyone is a bit more depressed then 2008. 2008 is more about world demand being soft. This one is engineered to fuck with oil producers and can be prolonged.

Last time OPEC caved and brought the price back up, they lost market share and never recovered it. This time, they have to have other players OUT of the market and it's going to be a war of attrition to see who it is (sands, shale, russians going nuts, etc). So it will come back up but not until it's been suppressed long enough to get major players out of the industry for good. Days of fork lift drivers making 100K are gone.

[killramos]

Originally posted by Khyron


Last time OPEC caved and brought the price back up, they lost market share and never recovered it. This time, they have to have other players OUT of the market and it's going to be a war of attrition to see who it is (sands, shale, russians going nuts, etc). So it will come back up but not until it's been suppressed long enough to get major players out of the industry for good. Days of fork lift drivers making 100K are gone.

Oil sands production makes up a tiny fraction of world supply ( less that 2 Million bbl/d in 2013 / 85 million bbl/d world ). The Saudis don't give a rats ass about oil sands.

We have a huge amount of RESERVES. Production? Not so much right now.

[Feruk]

US output's only ~9Mbbl, and the concern was the recent rise that took them from 5Mbbl to 9Mbbl. I wouldn't say 2Mbbl is insignificant.

[sputnik]

Originally posted by killramos


Oil sands production makes up a tiny fraction of world supply ( less that 2 Million bbl/d in 2013 / 85 million bbl/d world ). The Saudis don't give a rats ass about oil sands.

We have a huge amount of RESERVES. Production? Not so much right now.

OPEC's primary objective is to gain market share, their primary targets are Russia and the US.

When you look at Canada our production is less than 5% of the global production. Whereas Russia and US are closer to 15% each (OPEC being 35-40%).

The Canadian economy is just collateral damage from a much bigger fight.

[gkAeris]

heard from a friend more layoffs at CPC today I heard and more contractors got let go today.

employee moral and work environments in all O & G companies must really suck???

I know at work I dread seeing my boss......definetly do not want to get pulled into a meeting with him

[schurchill39]

Originally posted by Gainsbarre
So the policy at my workplace is that HR cleans out your desk for you...

In the last round of layoffs in my office people were escorted out of the building then HR packed all of their things up for them and shipped them out to them.

The Mrs. works at a EPC company and 10% of her group/building/area or what ever you want to call it got let go. 12 people she said.

[r3ccOs]

The target is Russia... in Opec's case, they aren't happy with low oil, nobody is... but market share and US's political position is to pull the rug under Russia's economy

Supergobals, a number being US based, and the US having a market that can tolerate a production slowdown, is OK with partnering with Saudi in this endeavor to weaken Russia, including other sanctions.

That being said, the issue is... its only truely punishing the poor and middle class, and not those who dictate the country.
Putin and his cronies are smart, and there is no way their assets are tied in ruples and in russian commodities.

Its the poor grandmothers who are paying 15 bucks a head of cabbage to make a pot of borsh

more layoffs at my company also

[nickyh]

Round 3 was yesterday at my company.

Mostly engineering & BD folks, all discretionary spending is being looked at closer now as well - company phones and other perks are going to be taken away soon.

[lasimmon]

Lightstream letting go a bunch of people this week apparently.

[benyl]

Originally posted by nickyh
company phones and other perks are going to be taken away soon.

I thought that ROBELLUS wouldn't be affected by the price of oil...

[2Legit2Quit]

They laid off several long term employees yesterday in my office, several with 10+ years at the company and a couple with 20+ years :\

[ExtraSlow]

A co-worker just had his company truck taken away, which sucks, because he actually does drive for work pretty regularly. Oh well, I guess he'll go to expensing mileage, which can be a pretty good deal.

[killramos]

My phone when No-Sim for 2 hours on the weekend. I thought that might have been a sign. Came back though but gave me a touch of a scare.

[mr2mike]

Legacy lay offs.