Has your office / company laid people off or are you expecting layoffs? PART 8

[schurchill39]

This quote is hidden because you are ignoring this member. Show Quote

That's what a lot of people in the military do. Earn their 25 year pension, leave, and go back as a contractor the next day, literally doubling their paycheque overnight.

The drawback is having to be in the military for 25 years.

There was a large service company who shut down a base in Medicine Hat a few years ago going into Q2, laid everyone off with decent packages. In September they decided to open the base back up and everyone got hired back on with their seniority. Most of the guys there were 8+ year hands so it ended up being a nice paycheck and a summer off. Now that is the dream.

[ExtraSlow]

I never managed to live that dream. Only severance I ever got was 3 weeks pay and 4 weeks benefits . . . .

[killramos]

This quote is hidden because you are ignoring this member. Show Quote

Confirmed as well - few old colleagues were let go

Glad it wasn’t just me perpetuating a fake rumour.

[ExtraSlow]

@Euro_Trash is trustworthy.

[killramos]

To be clear in case my post wasn’t, I am glad to have confirmation of what I heard.

I wasn’t implying it was a fake rumour. That was @ExtraSlow lol.

[ExtraSlow]

ExtraSlow throwing mad shade yo.

But yeah, I will never cheer someone losing thier job.

[trickyone]

This quote is hidden because you are ignoring this member. Show Quote

International frac company with a small presence in Canada are shutting down their Red Deer shop and only operating out of GP. If thats the case I wonder how that will effect the Calgary staff.

Red Deer base wasn't in operation since July anyways, all the jobs were getting dispatched from GP... They let go close to 15 people from Calgary staff and I wouldn't be surprised if they close their door permanently in Canada by end of the year or file bankruptcy.

[Buster]

Did we get confirmation on final Husky cuts? I heard it was more like 850.

[01RedDX]

.

[The BMW Guy]

Friend that works there also said Peabody told everyone it was 300.

[Xtrema]

This quote is hidden because you are ignoring this member. Show Quote

It's probably hard to get real numbers from management because the Chinese govt is known for being secretive.

CK Hutchison Holdings (HK) is probably more reliable than random Chinese firms. But they will not volunteer any info that's not required by any regulators, just like any other business.

Chevron laid off 6-7K globally in 2016 and I don't think we ever got a number for Calgary.

[schurchill39]

This quote is hidden because you are ignoring this member. Show Quote

Did we get confirmation on final Husky cuts? I heard it was more like 850.

Dont they need to report numbers to the government?

[JRSC00LUDE]

This quote is hidden because you are ignoring this member. Show Quote

Aaron's good shit.

That was true in the past. While I was there, the shares paid up to a 70% dividend some years. Banks were willing to lend to employees to buy shares at 2%, that's how good the investment was. Over my 5 years there though, the share price never increased, and the dividends began to dwindle to the 25% return mark. Don't get me wrong, that's still incredible, but nowhere near the performance they were at before. Shares could also only be purchased based on your position, so it took a good 5 years before you could get around $60-70k invested. They call the 5 year mark the golden handcuffs, and that's where I left. From what I gather now, they're struggling to pay dividends over 20% and the share prices are actually falling. Still not bad, but a tough draw when they pay 30-40% less than their competitors in Salary and expect you to make your money by buying into the share program.

Late reply..... Yeah he's such a solid guy for sure, one of the best.

That's interesting info. about the compensation and shares (holy shit on the 70% days, wow). I never really looked into it as I like where I am. I completely see how the company can chew people up pretty easily but honestly, that risk runs true everywhere. You're either going to climb or you're not. Majority of the time that's on you, even in a shitty company. If this were 10 years ago I'd have been interested in buying into their system but now I am settled in my location and would be unwillingly to do what it takes.

[suntan]

Tad over 200 @ Husky.

[R-Audi]

This quote is hidden because you are ignoring this member. Show Quote

Did we get confirmation on final Husky cuts? I heard it was more like 850.

Friend in IT there said that day 212 users were terminated from the system.

[schurchill39]

This quote is hidden because you are ignoring this member. Show Quote

Friend in IT there said that day 212 users were terminated from the system.

Thats a far cry from the 500-850 being reported. Is that Calgary only? I know guys at some of their plants that claim a pretty high number of guys got let go which doesn't make sense if you consider them part of that 212 number.

[R-Audi]

That number was Calgary head office, as it was based on local IT users.

[flipstah]

It was inevitable when Denver HQ came into the equation years ago,

https://business.financialpost.com/c...-changing-name

[r3ccOs]

Total is closer to 700 as a large number of contractors (not "services") were also impacted

[legendboy]

This quote is hidden because you are ignoring this member. Show Quote

I dunno. Laid off and immediately getting a contract is kindof the dream? Eat that glorious package and you still have a job.

No I did it once before (second tenure) and they are just ryingt to cheap out.
I worked for 10 years for this co, left over personalities and was called back by the owner 7 years later when things got out of control due to a bad hire. (phone call Sunday night 9pm wanting me to come start the next day, which I did)

Went back for 2 years and then terminated without cause, cost savings. Fuck them. They can pay an engineering firm to supply 3D models.
A guy has to draw a line of self respect somewhere.

This is the second time they have done this to me.