Has your office/company laid people off? PART 2

[sputnik]

Originally posted by CompletelyNumb
I don't think contractors were ever reported in the "xxxxxx people laid off in Alberta" reports. Whoich means the numbers are worse than people know.

I've been out of work since Feb (consultant), no EI, don't qualify for any alberta works programs, and cant for the life of me find a decent job in Calgary due to being an oil patch guy. From my perspective this is a straight up depression.

I wouldn't be surprised if the unemployment rate in AB is somewhere around 12-15%.

[KrisYYC]

Originally posted by CompletelyNumb
and cant for the life of me find a decent job in Calgary due to being an oil patch guy.

I'm not in the oil industry so I don't know, but out of curiosity why wouldn't they hire an oil patch guy? Are they worried as soon as oil picks up you'll quit your job in Calgary?

[Sugarphreak]

...

[suntan]

Originally posted by KrisYYC


I'm not in the oil industry so I don't know, but out of curiosity why wouldn't they hire an oil patch guy? Are they worried as soon as oil picks up you'll quit your job in Calgary?

The layoff thread over at CP is hilarious. $75K is a good salary? Obviously none of the fuckers there even work in O&G.

[flipstah]

I found recruiters not in O&G field flinch when I mention my field of work for same reasons Phreak mentioned.

I have to sweet talk my way around that my work can be in any field.

[nicknolte]

Originally posted by suntan
The layoff thread over at CP is hilarious. $75K is a good salary? Obviously none of the fuckers there even work in O&G.

What's wrong with earning $75K? If you think that's bad, take a look at Vancouver salaries.

Originally posted by KrisYYC


I'm not in the oil industry so I don't know, but out of curiosity why wouldn't they hire an oil patch guy? Are they worried as soon as oil picks up you'll quit your job?

Purely anecdotal, but I interviewed with non-O&G company last week who focused on why I am looking to transition to a new industry, and asked some follow-up feeler questions about what I liked/disliked about my role/time with my former O&G employer. Hard to blame them though... I wouldn't take a chance on someone with mostly O&G experience either

[suntan]

Originally posted by nicknolte


What's wrong with earning $75K? If you think that's bad, take a look at Vancouver salaries.

They think $75K is top end. Yes sonny, the division manager makes $75K.

[Sugarphreak]

...

[CompletelyNumb]

I'd take 75k right now

[Feruk]

Originally posted by CompletelyNumb
I'd take 75k right now

Median family income in Calgary is $98K. If you're a single person living solo making $75k... $75K is your family income. Do you really wanna be below average?? Don't settle for that trash! Tell them you don't work for charity!

[msommers]

Originally posted by CompletelyNumb
I'd take 75k right now

Same

Originally posted by Feruk


Median family income in Calgary is $98K. If you're a single person living solo making $75k... $75K is your family income. Do you really wanna be below average?? Don't settle for that trash! Tell them you don't work for charity!

[FraserB]

Originally posted by suntan
They think $75K is top end. Yes sonny, the division manager makes $75K.

I'd go read that thread just for the lols, but I seriously can't stand 99% of people on that site.

And yes, O&G has basically created an entire group of people who now won't get out of bed for under $100k

[killramos]

Happy September 1

http://www.cbc.ca/news/canada/calgar...cuts-1.3210823

Penn West Petroleum Ltd. is cutting its workforce by 400 full-time employees and contractors — most of them working at company headquarters in Calgary.

Most of the job cuts are effective immediately and the rest will be complete by the end of this year, the company said Tuesday.

The jobs represent 35 per cent of the total workforce at Penn West, a prominent mid-sized oil and gas producer.

http://pennwest.mediaroom.com/index....85&item=135255

we will limit our capital expenditures to funds flow from operations by year-end 2015

we will suspend our dividend and reduce board compensation

we will significantly reduce our cost structure through a 35% workforce reduction

This isn't going to be a fun month for very many people...

So it begins, Again...

[ExtraSlow]

Yep, September and October are lining up to be very bad months for a lot of folks. Good time to defer large purchases.

If things get really brutal, January will be a nice time to buy some real estate . . .

[bjstare]

Originally posted by ExtraSlow
Yep, September and October are lining up to be very bad months for a lot of folks. Good time to defer large purchases.

If things get really brutal, January will be a nice time to buy some real estate . . .

That's the plan!

We'll be selling our place in the coming weeks, then living in my parents empty house while they're away for the winter. Gonna see how things play out.

If it starts going up again, i'll buy back in ASAP. If it starts to fall, I'll try and pick the bottom. haha

[blitz]

Originally posted by killramos
Happy September 1

http://www.cbc.ca/news/canada/calgar...cuts-1.3210823



http://pennwest.mediaroom.com/index....mp;item=135255



This isn't going to be a fun month for very many people...

So it begins, Again...

We rent a floor in the Pennwest building, I knew something was up with parking outside the building blocked off and security people patrolling everywhere.

[Sugarphreak]

...

[killramos]

And Pengrowth:

http://boereport.com/2015/09/01/peng...e-environment/

Pengrowth’s (TSX:PGF)(NYSE:PGH) Board of Directors has approved a change to the Company’s dividend policy, moving to a quarterly payment at a rate of $0.01 per share per quarter ($0.04 per share annually), as a result of the continued weakness in commodity prices. With the macro environment continuing to deteriorate and given the outlook for a prolonged weakness in commodity prices, the Company believes that it is prudent to preserve capital and accelerate its efforts to reduce overall indebtedness.

Pengrowth remains committed to taking actions to ensure the Company lives within its cash flow and looking at all options to reduce its overall indebtedness. Today’s dividend reduction is consistent with all of the measures the Company has taken in 2015 to counter the impact of falling prices and preserve its financial liquidity.

These measures include:

A 78 percent reduction in anticipated 2015 capital spending compared to 2014.
Targeted non-core asset sales of $600 million in 2015.
Continued focus on capital cost reductions, resulting in a 20 to 25 percent reduction for most types of services.
Ongoing staffing re-alignments with a seven percent reduction in head office full-time staff in the last nine months.
Commitment to ongoing hedging efforts to protect future cash flows and capital programs.

Not sure if this means any more layoffs today or just totalling this year's

[killramos]

And ConocoPhillips:

http://www.cbc.ca/news/canada/calgar...lips-1.3210823

ConocoPhillips Canada confirmed to CBC News it will reduce its workforce by about 15 per cent — 400 employees and 100 contractors.

"We informed people yesterday [Monday], but the vast majority of the actual reductions will occur by mid- October. The majority of the reductions in Canada will be in our Calgary office," said its communications director, Rob Evans.

500 total within the next 30 days.

No official release from Conoco yet.

[Feruk]

Wow, so many of my friends laid off today... Sad day.