Currently about 2300 Employees hearing that reduction will be about 35% (780 people). Out of those people cut supposedly 80-85% will be Houston personnel. Reorganization starts on Tuesday! Found this info in an old thread, thought it belonged on top... read more
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Topics regarding layoffs at Hess Corp.
It's been reported that Elliott Management is getting geared up for another proxy fight with Hess with the intent of ousting the CEO. Elliott also wants a cut in dividend, increase share buyback, sell Malaysia assets, and possible sale of the... read more
Can people at Hess realize that a company is run by more than simply engineers and geologists? It's astounding how little respect you get here if you are in other departments. Do people really think that accounting and finance don't contribute to the... read more
I was treated awfully at Hess. There is no sense of loyalty or value as an employee there. People were promoted due to politics instead of expertise. Positions that could easily be filled in-house were done outside of the company devaluing its team... read more
A company can't last that has people in lead positions that don't even understand how things work or know what their people even do! You also can't go from having parts you need to keep things running to being weeks out to get these parts to keep... read more
Whoever said Hess Corp. was in a death spiral it appears they were right. It looks like we are headed below 13 billion market cap and maybe 10 by the end the year. I bet we have layoffs just to satisfy the stock holders that something is being done... read more
Something has got to happen soon to stop our death spiral. I am afraid we are about to have another big layoff soon. Has anybody heard if management has a rabbit to pull out of the hat soon?
We aren't making it and Hess will either be bought or we will have to sell assets and layoff s bunch of people to cut overhead!
Why are we still investing in capital intensive projects like deep water oil (Stampede)? Doesn't our management know that our industry has been changed forever by technology? Short term, low capital, projects in our own stable environment will be... read more
11.3% have been severed - 238 of 2101 All employees severed today were given a print out by title and age of employees retained vs. employees severed, as a means to divulge that there was no discrimination by age taking place. Lay offs by title are... read more
Tublar Bells is a catastrophic failure. Let's hope Stampeed is better.
Those given layoff dates in 2017 not given the full paperwork. No date in writing all verbal notification. Can't get good information out of the HR group regarding why the information is not available. Not cutting the top dogs but middle management... read more
I heard rumours Hess will close Perth office. Is it true?
11.3% are being severed - 238 of 2101. All employees severed today were given a print out by title and age of employees retained vs. employees severed, as a means to divulge that there was no discrimination by age taking place. Lay offs by title are... read more
Here we go! We borrowed money and sold stock but we did not stop the precipitous fall! We need a change in strategy to survive!
Prices are predicted to stay low for a very long time! Is management sleeping? Someone help me here, has anyone seen the changes in strategy required for us to survive? Maybe they are just planning on selling out!
While we are still focussed on deep water expecting Oil prices to recover soon no one seems to be looking ahead. The technology that has increased oil supplies and dropped it's price has not yet been applied to many tight formations in the Middle... read more
How long can we hang on? We are still planning and working on deep water projects which we know will not be profitable for years if ever! When is our management going to wake up and start shutting down high cost high risk projects and start focussing... read more
Management still talking about this development in the land of Oz, fiction ?
Horizontal Drilling and ZIpper Fracs has opened up so many onshore low risk opportunities that the need to drill in deep water with associated risks and high cost is gone. This technology is just beginning to be applied to tight low perm formations... read more
We announced that we were not going to keep current production level or grown but ride the decline curve of our assets. This means no drilling no completion and a need for way less people
Six companies that lost the most buying back their own shares - at loss... The companies with the biggest paper losses - Hess made the list: IBM: - $9.8 billion Qualcomm: -$7.4 billion American Express: -$4.1 billion Exxon Mobil: -$3.9 billion Hess:... read more
We are in real trouble, get ready for the next step!
Why is Hess stock currently down $3.56 today???
WHY is Hess stock is currently down $3.56??
Ok, i was trying to be amusing
To fellow hess employees you guys are here by mistake go back to your country
Just throwing the warning out there. Get your junk together.
Heard that Bome Camp, the gem of all Oil Industry Facilities has been sold to the National Oil Company. Is this true? Are we really reducing staff in what was once the Cash Cow of the Corp?
I see a ton of cuts at SLB, Baker and HAL - how is Hess doing and did the price drop impact Hess as much as other companies
That's what I have been hearing - all three locations might be affected. We will see how things pan out but if the prices do not bounce back we can expect cuts to preserve profitability. Our stock lost 40% of the value from the peak, so the... read more
Any news today? Come on guys...
Hess is a name that many of us know well, at least if the stations are in the local area, but you may not know the depths of the company, and how many people they actually employ outside of their service stations. Oh wait, we’re not talking about... read more
Fallout from today's announcement that Hess will permanently close its Woodbridge petroleum refinery by the end of next month was swift: Gas prices rose to their highest levels since October and Hess said it will lay off 170 of 217 employees, exit... read more