And there was much rejoicing in the land.... Gas Prices

[Ruffdaddy]

That goes on in this industry? Fuck a bunch of that, that sucks.

If there's another surge in activity that won't matter a bit. They will change the policy to hire anyone they can if that actually is a policy. Service companies can't make money without providing the service...and nothing matters more than having the people you need when you need them.

Unsure about O&G at large. I only know how our company works.
I know that we closed an offshore O&G packaging facility in Singapore last year and the guys I knew there who took the package won't be back.

That's weird. I mean I think it goes without saying that no one will be back anytime soon...but that's because of staffing needs.

Did they expect them to get laid off and reject a package?

[Denny]

Ya, sometimes it is stipulated in the separation agreement. It is on a case-by-case basis, mostly.

[Strychnine]

That's weird. I mean I think it goes without saying that no one will be back anytime soon...but that's because of staffing needs.

Did they expect them to get laid off and reject a package?

These guys could have been relocated though. They chose the package and to job hunt in Singapore rather than relocate... So I guess that had the largest part to play in it.

[zachary]

anyone keeping up with the total number of layoffs now?

[Ruffdaddy]

These guys could have been relocated though. They chose the package and to job hunt in Singapore rather than relocate... So I guess that had the largest part to play in it.

Ahh yeah that's different than layoff. I haven't seen anyone truly unhireable after a proper layoff.

Now I do know that the first round of layoffs are to clean up people that are not the best of performers. So maybe they won't be re hired. Then the second round is just trimming fat and excess spending. Somewhere in the later rounds is where you see the people getting cut that the company would rather keep if they had work. Sounds like traxx was a much later round so he was obviously good at what he did.

[Strychnine]

anyone keeping up with the total number of layoffs now?

It's not pretty. According to Challenger, Gray & Christmas there were 21,322 layoffs in January at "oil related enterprises" compared with 14,262 total cuts in 2014.

This comprehensive list of cuts came out yesterday. Keep in mind that around 600,000 people are employed by the O&G industry in the US.

[Ruffdaddy]

It's not pretty. According to Challenger, Gray & Christmas there were 21,322 layoffs in January at "oil related enterprises" compared with 14,262 total cuts in 2014.

This comprehensive list of cuts came out yesterday. Keep in mind that around 600,000 people are employed by the O&G industry in the US.


...

To make matters worse...There are a good bit more than that just judging by the names of some companies missing from that list that I know have been hit.

[GrayStangGT]

And that list doesn't even include the smaller guys. I know a local producer who laid off their entire drilling department that isn't on that list.

[Strychnine]

Forbes just put out an e-book titled [ame="http://www.amazon.com/Booms-Busts-Billionaires-Decade-Stories-ebook/dp/B00TGSAGTM/"]Booms, Busts And Billionaires[/ame]. I'll let you know how it is.

[KBScobravert]

Untold are the number of folks hanging on by a thread sitting in the yard. Not unemployed, and not making enough to keep them showing up everyday until work picks up.

[Ruffdaddy]

Or the office folks who took 10-20% paycuts

[Denny]

I'm making more on worker's comp than unemployment OR sitting in the yard.

[Ruffdaddy]

And commissions/bonuses that are now almost nothing.

[Denny]

Shit! Another -3% already this morning!

[TRAXX]

Sounds like traxx was a much later round so he was obviously good at what he did.

I would like to think so

Its was a perfect storm.

1. My project was about to finish. (I had basically lined out all that was needed to finish)
2. I was a mechanical engineer in a software group...ie a luxury but couldn't fill the roll of a developer if needed like the other PMs that were software engineers.
3. The projects that were coming up were more general business related and less field engineering related (where my background is of more benefit)
4. Business related software is boring, so I started looking(last August) to get back to the mechanical departments...and my boss knew I was a short timer.