Has your office/company laid people off? PART 5

[Cos]

.

[austic]

Originally posted by Robnaldo
No layoffs, none coming.
We had a strong 2015. 2016 will be weaker but will likely still see mild growth. (I don't work in O&G)

Pretty much same here but I work in an O&G related industry

[birdman86]

Rumors going around that Sanjel sold their frac assets in Canada and the US

[finboy]

Originally posted by birdman86
Rumors going around that Sanjel sold their frac assets in Canada and the US

Interesting, any more details?

[90_Shelby]

Originally posted by birdman86
Rumors going around that Sanjel sold their frac assets in Canada and the US

I was going to post this in the Recession Casualties thread.

Sounds like one of the smaller service companies just got bigger. (Canadian Coil and Frac Assets)

[birdman86]

Confirmed:

http://www.newswire.ca/news-releases...574540221.html

and

http://www.prnewswire.com/news-relea...574541411.html

[finboy]

Originally posted by birdman86
Confirmed:

http://www.newswire.ca/news-releases...574540221.html

and

http://www.prnewswire.com/news-relea...574541411.html

Wow, bankruptcy finally got them, will have to reach out to my old coworkers there

[ExtraSlow]

It was just a matter of time, but I'm surprised Sanjel went under before trican. Still, decent chance Trican will be gone within a month or two.

[finboy]

Originally posted by ExtraSlow
It was just a matter of time, but I'm surprised Sanjel went under before trican. Still, decent chance Trican will be gone within a month or two.

They were beat up really bad when I was there, but could hide it as they weren't public. Some of the moves I saw there were shear desperation, bidding on work they had no chance of performng successfully on.

[90_Shelby]

Originally posted by ExtraSlow
It was just a matter of time, but I'm surprised Sanjel went under before trican. Still, decent chance Trican will be gone within a month or two.

I'm curious why you think Trican will be gone in a month or two.

[dirtsniffer]

15% staff cut at my shop tomorrow. Second round. Had a 15% reduction this time last year as well

[HiTempguy1]

Originally posted by dirtsniffer
15% staff cut at my shop tomorrow. Second round. Had a 15% reduction this time last year as well

30% pay cut in one year? I don't know how much the guys at your shop made, but if they were earning anything less than $100k per year... I don't even know how I'd do that (theoretical $100k per year to $70k per year). That would be $80k to $56k

And a huge savings on the companies payroll budget.

[dirtsniffer]

Reduction was in headcount. Probably a greater effect as it is generally mid senior level people getting let go.

Note to self. Make sure I'm specialized enough that young people can't prove to be more valuable based on them being cheaper.

[ExtraSlow]

Originally posted by 90_Shelby


I'm curious why you think Trican will be gone in a month or two.

heard it on beyond.ca, which is my main source or news and accurate rumours.

[colinxx235]

Originally posted by HiTempguy1


30% pay cut in one year? I don't know how much the guys at your shop made, but if they were earning anything less than $100k per year... I don't even know how I'd do that (theoretical $100k per year to $70k per year). That would be $80k to $56k

And a huge savings on the companies payroll budget.

27.75% pay cut!

Brutal either way. In the end just be happy it wasn't a pink slip...

[R154]

I heard something interesting yesterday. A vendor (manufacturing) I work with used to have >60% of their yearly (total) sales with Trican. Since 9 months ago they have had sales of ~$2600 to Trican. The vendor is likely filing for bankrupt shortly.

Just rumors.

Surprisingly sized vendor at that.

[CompletelyNumb]

Originally posted by HiTempguy1


30% pay cut in one year? I don't know how much the guys at your shop made, but if they were earning anything less than $100k per year... I don't even know how I'd do that (theoretical $100k per year to $70k per year). That would be $80k to $56k

And a huge savings on the companies payroll budget.

I'm not sure what you do for work, but cuts like that are the norm in most O&G companies, especially service companies... many field workers got cuts over 50%.

[pheoxs]

Originally posted by CompletelyNumb



I'm not sure what you do for work, but cuts like that are the norm in most O&G companies, especially service companies... many field workers got cuts over 50%.

I know a bunch of people that get every friday off unpaid now. Basically 20% pay cut and compress their work into a 4 day work week. Better than just a straight pay cut I guess, but still a huge hit to the budget

[Perfect Dark]

Originally posted by pheoxs


I know a bunch of people that get every friday off unpaid now. Basically 20% pay cut and compress their work into a 4 day work week. Better than just a straight pay cut I guess, but still a huge hit to the budget

We were just told to start taking one unpaid day per pay period off. It sucks but could definitely be worse...for me it just means I get to make every other weekend a long one!

[speedog]

TELUS did this unpaid day off thing some 20 years ago, called it a work leave day or something like that. Sucks but was better than being laid off and worst of all, once you adjusted and got used to the long weekend every other end, it was difficult to go back to regular hours.