Been hearing about layoffs all this week. Time to brush up the ol resume if you haven’t. certain regions are also on a travel ban to save money
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@1fr Oil companies are laying off workers despite high oil prices because newer technologies means they can get more work done with fewer people on crews, tariffs are increasing costs and volatility with Iran (and the Strait of Hormuz). The uncertainty surrounding Iran and the Strait of Hormuz make companies cautious. They like stability because revenues flow consistently.
Bottom line, companies focus on cutting costs to increase profits. Even when oil prices spike, companies worry about future price drops so they cut spending to stay safe, focus on investor profits and boost stock value. Reducing headcounts increases cash flow and stock prices, even during very profitable quarters.
Fun fact, we all just a number in a spreadsheet.
Hope they get my fat a-s boss with fake Santa clause laugh next .
Given the high oil price and stock, why do it this time?
@1av I think they mean the upcoming months like Halloween, Thanksgiving and Xmas.
It’s a tough job market right now y’all!
@1av do you actually think anyone of us that got laid off are going to find a new role the last 3 months of the year
@1as What holidays? Veterans Day?
Yeah they got me. Just in time for the holidays
Same old story. End of the year RIFs. Try to make the books look good for the investors. Goon execs all selling off their stocks. Do they think we don't know their tricks by now???
@af GOA region
@b4 GOA
@r9 I wish it was fake. My duties have doubled with the layoffs and we’ve lost some real talent and knowledge
@ay Did it just change banking info?
None in Sing, still seeing new faces each month.
Curiosity, why the down votes? Who ever is down voting must be thinking these posts were fake?
@ch
SG Thursday and friday
I was impacted today, I was in Landmark. After 15 years so long big red.
any news for Singapore office?
I told y’all about this in a thread last week that it was coming. First round has to be completed by Friday this week, then probably another round in September.
@b4 I know if at least a few at NorthBelt, but not sure how many in total or what other locations. I assume there were more. The ones I know personally were both 20+ year employees. Given the current stock and bubble we’re on I wonder what the driver was, but whatever…
happening at which location?
It’s real folks
Got me today and found out indirectly through Success Factors due to a change in banking information.
The cat got out of the bag ahead of HR for this 20year employee
@a4 where?
@a2 RIFs already happening. Heard of two this week already
Hiring freeze, restructuring, travel restrictions, project cuts… the story line is the same.. next would be RIFs..