Hess Corp. Layoffs

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Topics regarding layoffs at Hess Corp.

Hess layoffs January 15 - 19 week

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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1806 views | 9 replies (last )

Another Proxy Fight?

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
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932 views | 4 replies (last )

Lack of respect

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
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1038 views | 4 replies (last )

Employees are your backbone

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
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718 views | 3 replies (last )

Hess can't last like this!

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
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1229 views | 1 reply ()

Spiral is right!

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
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1519 views | 3 replies (last )

Get ready for another round of layoffs!

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?
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1576 views | 5 replies (last )

Will Stampede pay out?

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
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1308 views | 1 reply ()

Last Round of Layoffs

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
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1804 views | 3 replies (last )

The 2 GOM assets.

Tublar Bells is a catastrophic failure. Let's hope Stampeed is better.
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947 views | no replies

Layoffs

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
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2808 views | 3 replies (last )

Perth office

I heard rumours Hess will close Perth office. Is it true?
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1706 views | 3 replies (last )

238 employees severed

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
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3118 views | 2 replies (last )

Stock value still dropping!

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!
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1247 views | 3 replies (last )

Wake up! It's not working!

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!
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1055 views | 2 replies (last )

Equus Development

Management still talking about this development in the land of Oz, fiction ?
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1095 views | no replies

Deep Water Exploration and Drilling are Dead!

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
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1541 views | 2 replies (last )

Good stewardship at Hess

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
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1317 views | 1 reply ()

Hess idiots

To fellow hess employees you guys are here by mistake go back to your country
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1245 views | no replies

Equatorial Guinea - what's the outlook!

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?
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1174 views | 1 reply ()

2015 Layoffs at Hess

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
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1450 views | 2 replies (last )

New York City, Woodbridge and Houston Layoffs

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
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1203 views | 3 replies (last )

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