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

[Darkane]

Imperial aspen is on the Shelf. God dammit.

[ThePenIsMightier]

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

Imperial aspen is on the Shelf. God dammit.

I heard CNRL is going to sit on their thumbs and think for a good long while before going ahead with Detailed Eng on S.U.G.

[phreezee]

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

Imperial aspen is on the Shelf. God dammit.

https://calgaryherald.com/commoditie...-a5231b0f4ef2?

[phreezee]

Some positive news, BASF moved HQ from Ont to AB.

https://calgaryherald.com/business/l...ers-to-calgary

[ExtraSlow]

90 jobs bitches!

[killramos]

Big news

To counter, yesterday I heard that Nexen is letting another 300 go

No double meat subs this week.

[Xtrema]

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

Big news

To counter, yesterday I heard that Nexen is letting another 300 go

No double meat subs this week.

I'm surprised the Chinese doesn't just fire everyone on retaliation.

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

Some positive news, BASF moved HQ from Ont to AB.

https://calgaryherald.com/business/l...ers-to-calgary

Make VHS great again?

» Click image for larger version

[ThePenIsMightier]

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

I'm surprised the Chinese doesn't just fire everyone on retaliation.



Make VHS great again?

» Click image for larger version

LoL! I assume you know that BASF is a massive chemical company competing directly with the likes of Dow.
Those tapes were good times though.

[Xtrema]

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

LoL! I assume you know that BASF is a massive chemical company competing directly with the likes of Dow.
Those tapes were good times though.

I know. But as child of the 80s, that's what they will be forever known for, for me.

[killramos]

Hearing that around a dozen were let go at Long Run (apparently they still exist) in the last month. They have a management company who has to sign off month to month if their employees get paid or not, essentially like they are in bankruptcy.

[lasimmon]

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

Hearing that around a dozen were let go at Long Run (apparently they still exist) in the last month. They have a management company who has to sign off month to month if their employees get paid or not, essentially like they are in bankruptcy.

Effects of Redwater perhaps? Bank doesn't want to force bankruptcy and not get any money maybe?

[killramos]

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

Effects of Redwater perhaps? Bank doesn't want to force bankruptcy and not get any money maybe?

If it was any other company I would say yes, but nah their ownership structure is just fucked, whole thing is a Chinese money laundering scheme that went sideways, don’t think they have much formal debt at least not in Canada. The company just isn’t worth anywhere near what they paid for it.

[schurchill39]

I know their former superintendent pretty well and he said when the Chinese bought them it all kind of just went to shit. He stays ontop of the happenings over there and he's happy he left. Seems like the people left were just kind of coasting collecting a pay cheque because they couldn't do anything without the motherland giving them the thumbs up.

[infected]

Nexen announced cuts of 550 people over the next 18 months. Jobs are being centralized out of head office in China.

[sabad66]

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

Nexen announced cuts of 550 people over the next 18 months. Jobs are being centralized out of head office in China.

thanks Harper gov't for approving the sale to China! for once i actually wish we went donald trump style here and intervened to protect the canadian jobs.

it was only a matter of time

[nzwasp]

I wonder how long their lease in the Bow Tower is for.

[vengie]

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

thanks Harper gov't for approving the sale to China! for once i actually wish we went donald trump style here and intervened to protect the canadian jobs.

it was only a matter of time

I have to agree with this.

Very unfortunate.

[killramos]

The way I see it is Nexen is worth less today than they ever have been.

So I am glad to see the Canadian money get out of that sinking ship with the sale. It’s not like any Canadian companies saw enough value in Nexen to make a competitive bid.

The jobs side is pretty unfortunate but that likely was inevitable. And for context my dad worked there for nearly 30 years before the Chinese laid him off.

[R-Audi]

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

I wonder how long their lease in the Bow Tower is for.

I believe 3 years... with options to extend thereafter. All will come down to the legal battle/asbestos removal at Nexen building.

[Type_S1]

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

thanks Harper gov't for approving the sale to China! for once i actually wish we went donald trump style here and intervened to protect the canadian jobs.

it was only a matter of time

Canadians made A LOT of money of asian companies over the past decade as they have generally 1) bought at peaks, 2) overpaid hugely both on straight buyouts or via partnerships (see Encana), and 3) bought bankrupt or near bankrupt companies for prices Canadian money would never fund. A ton of Canadian wealth has been created from asian capital infusion that far outweighs some job losses to China that would have been complete layoffs if a company like Nexen continued to run itself into the ground like they were. If anything the Chinese buyout probably preserved jobs longer then if a buyout didn’t occur in my opinion.

Edit: this is not a personal attack, but opinions like you’ve posted are why Canada is such a disaster from top to bottom right now. People make blanket statements on things when they don’t understand the entire topic and uneducated opinions are then perpetuated nowadays compared to the past as someone can jump on a forum, twitter, or Facebook and speak nonsense as facts and convince their friends lacking knowledge on the subject to hold the same opinion. This lack of understanding also leads to political leaders like Notley being elected and then with a straight face people can say “Notley is doing good and fighting for O&G”. End rant.