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2008...Again...Um...Alert...I guess?...

Dangphool
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Re: 2008...Again...Um...Alert...I guess?...

Postby Dangphool » Fri Jul 08, 2016 5:50 am

Ironically, we had another 10 people (approx.) laid off this week, which is 10% of the remaining workforce. All admin and support minions but surprisingly none of the 6 VP's or dozen managers have yet gone out the door. So odd isn't it?!?
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peppercorn
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Location: Alberta
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Re: 2008...Again...Um...Alert...I guess?...

Postby peppercorn » Fri Jul 08, 2016 4:59 pm

There will still be "trimming" here and there. Lots of empty commercial space now, it helps take pressure off non oil related companies. I was amazed to see the residential building going on, on 17st, whole subdivision under construction with, nearby fields already staked out for more yet.
When you think of it, the magnitude of the boom was roughly from 2002 to 2014,mid 2014. I don't really count 2008/9 as a slowdown, more of a hiccup. A entire generation grew up seeing nothing but jobs everywhere....trade schools just kept turning out welders and pipe fitters like jelly beans, but it takes constant plant and pipeline building to keep such numbers employied.
And you can bet none of them want to work for less pay...going to be some very unhappy people.
But as always the cure for low oil prices is low oil prices, and we will all get a chance to climb back on the saddle and ride the bull again, though the wait could be some time.
Its a game of musical chairs, some will sit around waiting for the music to play again, others will decide to learn a instrument while waiting. (just not the bagpipes please)
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