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

[schurchill39]

Husky rumor I heard was 500-800 with most of them being from Calgary. This was told to me by a both a Husky Calgary buddy and a friend at the Upgrader. They had all the meeting rooms booked from 7am on with cabs waiting outside (I work not far from there building and there was definitely high cab traffic throughout the day).

[mr2mike]

Asking for a friend.
Are these open ended taxi chits that expire at 3am?
At least head out and get blitzed at Bo's Bar in Red Deer and head home later that night.

Sucks that Husky is cutting staff. They're not known to do big layoffs and have survived thus far. But I'm seeing 2020 turning into the worst O&G year yet.

[jwslam]

HSE waiting for a buyout from CNQ

[Xtrema]

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Oh shit forgot about that big pile of people. How many was that, 800?

Canadian Natural says as part of the agreements, it will welcome approximately 3,100 employees from Shell and Marathon Oil. About 2,760 of them work at the mines, 110 are at the Peace River in situ operations and 230 are based in Calgary.

I'm almost certain the 230s are mostly gone once the 2 year retention expires. How far they trim at the sites, I have no idea.

When they started to globally outsourced IT in 2007 or 8, a lot of IT staff found refuge at oil sands but ended up just prolonged the inevitable.

[trickyone]

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Asking for a friend.
Are these open ended taxi chits that expire at 3am?
At least head out and get blitzed at Bo's Bar in Red Deer and head home later that night.

Sucks that Husky is cutting staff. They're not known to do big layoffs and have survived thus far. But I'm seeing 2020 turning into the worst O&G year yet.

Those Taxi Chit never expired for me ... Give a good tip on it, taxi driver don't have to submit their chits until end of month or next month if they are lazy

[suntan]

I'll ask, I know someone very high up there.

[JRSC00LUDE]

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Just a hunch, but my guess is it's where
People
Come
Last.

Although piles of GC's have a bad rep.

A guy I know offered to recruit me to his team at PCL some time back. From what I gather if you buy into their system, are flexible on location (ie. willing to relocate as often as necessary), and willing to work it had fantastic potential. But you need to go all in. I am satisfied with my situation and moving isn't conducive to my plans right now but otherwise, seemed like a great sell. It's worked for him, he just took the promotion to VP of PCL Los Angeles over the summer.

[killramos]

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Asking for a friend.
Are these open ended taxi chits that expire at 3am?
At least head out and get blitzed at Bo's Bar in Red Deer and head home later that night.

Sucks that Husky is cutting staff. They're not known to do big layoffs and have survived thus far. But I'm seeing 2020 turning into the worst O&G year yet.

Sounds like fun and games and it might seem like a good idea to be hot headed after a lay-off and fuck the man but...

A couple companies ago we did some layoffs, and one guy did something really stupid and took a stack of taxi chits with no expiry on his way out. Then proceeded to use them over the following 3 months on outlandish trips around the city, and he was stupid enough to always take to or from home.

Needless to say company was pissed and sent the lawyers after him for every penny, and a factor here is depending on the terms of your exit package you can be putting your severance at risk for theft from the company...

I think even more detrimental was how sewered his reputation was after people inevitably found out what he did. Calgary is a small town.

[Brent.ff]

so... lesson learned. Take taxi to few blocks away then scooter home

[BavarianBeast]

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A guy I know offered to recruit me to his team at PCL some time back. From what I gather if you buy into their system, are flexible on location (ie. willing to relocate as often as necessary), and willing to work it had fantastic potential. But you need to go all in. I am satisfied with my situation and moving isn't conducive to my plans right now but otherwise, seemed like a great sell. It's worked for him, he just took the promotion to VP of PCL Los Angeles over the summer.

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.

[Maxt]

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Just a hunch, but my guess is it's where
People
Come
Last.

Although piles of GC's have a bad rep.

Pour now, chip later.

[phreezee]

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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.

That sounds like Kiewit.

[schurchill39]

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.

[killramos]

So while we all called it as unlikely I am hearing in pretty certain terms that CNQ did indeed let ~200 go.

And that the Husky cuts were far larger than thought ( 500+, 2-300 of which in Calgary ).

[Mitsu3000gt]

Did Husky sell a bunch of assets? Or were they just so bloated that they could lose ~500 staff and continue normal operations?

I've worked for companies before that had Team leads, managers, senior managers, VP's, executive VPs, etc. and the hierarchy bloat of high-salary employees just gets out of hand.

[suntan]

They sold Prince Rupert refinery. Also kiboshed a few capital projects.

[pheoxs]

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Did Husky sell a bunch of assets? Or were they just so bloated that they could lose ~500 staff and continue normal operations?

I've worked for companies before that had Team leads, managers, senior managers, VP's, executive VPs, etc. and the hierarchy bloat of high-salary employees just gets out of hand.

My favorite is when you have a management hierarchy tree and some don't branch out. Like it's one person managing another person managing another person that is managing a team.

[schurchill39]

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My favorite is when you have a management hierarchy tree and some don't branch out. Like it's one person managing another person managing another person that is managing a team.

I worked at a company with that exact structure for years. Fun times....

I hear the AER finally did some cuts.

[Mitsu3000gt]

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My favorite is when you have a management hierarchy tree and some don't branch out. Like it's one person managing another person managing another person that is managing a team.

Haha exactly.

I used to work for a company with around 100 employees. They had 3 HR reps, an HR manager, and a VP HR making $250K+ (executive salaries were in the financials). The most work I ever saw him do was plan office costume parties. It was unbelievable. A single HR rep could EASILY have serviced the needs of the entire company.

[Xtrema]

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I hear the AER finally did some cuts.

I heard 20% from AER and 5-8% from AESO.