BP TRINIDAD

[bluestarz9]

offering all employees VSEP and operating locally. how can this happen?

[sliderz1]

boom pow. you didnt see that coming?

[src1983]

BG had this meeting since last year, India labour

[Allergic2BunnyEars]

Who???

[mrtrini45]

5 years service and under 6 months salary vsep package

[Hyperion]

Typical Eurocentric colonial behaviour, rape the third world of resources and then spit them out like watermelon seeds.
What always irks me, is that in good times the people who benefit are the major shareholders in terms of handsome dividends, but in hard times the first thing they do is get rid of employees. I am sure these people can live on reduced profits. But then again it's not about humanity, it's about the almighty dollar.

[supercharged turbo]

Thats the first rule in business

[VexXx Dogg]

Typical Eurocentric colonial behaviour, rape the third world of resources and then spit them out like watermelon seeds.
What always irks me, is that in good times the people who benefit are the major shareholders in terms of handsome dividends, but in hard times the first thing they do is get rid of employees. I am sure these people can live on reduced profits. But then again it's not about humanity, it's about the almighty dollar.

This aint a gubment institution to get bailed out

[S_2NR]

Dam. Winter is coming yes

[V2NR 3.0]

Oil Service companies also in trouble

[rookie]

Hmmmm
Ok here goes this happening since last year just it doesn't make the news a lot of companies send home stAff already bp, bhp, bg, massy woodgroup hydrotech. I work in the industry so this is real time data, it sad but so far about 1000 local ppl gone home an more coming 9000@ schlumberger and that includes Trinidad location.

[Grudge]

Hope these are rumors.

[jcrew]

No it's not.

[Rainman]

heard on CNC3 they offering all of their 1000+ employees VSEP........... they milking the resources and dont even want local labor....... did i even hear right , i find this absolutely shocking

heard on CNC3 they offering all of their 1000+ employees VSEP........... they milking the resources and dont even want local labor....... did i even hear right , i find this absolutely shocking

No you heard it wrong. The company is going through a simplification exercise GLOBALLY in light of the drop in oil prices. No company can afford to operate at the same costs and size regardless of oil price.

BPTT has a total of around 800 badged employees which includes expats. The VSEPs are one way of reducing the scale of operations but it's not automatic, you have to apply to be considered for the VSEP package. The remaining folks will be subjected to a normal reorganization exercise with possible headcount reduction.

[Grudge]

Thanks Rainman

[88sins]

It's just another case of typical corporate streamlining & efficiency optimizing protocol
Nuttn new here.

I find the state should restructure these companies tax rates though. Int'l conglomerates making billions in net profits & paying scant 50-60 million in taxes.

But then again, I sure more than half them politicians have some form of investment in those organizations, so that restructuring would never happen

[desifemlove]

If true, den:

- BP is a global firm. many countries have crude, and they can go many places to extract

- Trini is small, and BP ent gonna care if Kamla, Rowley gonna kick up a fuss....

- Trini needs to placate the global energy firms, cos BP ent no country with 40 percent of GDP from fossil fuels, and needs de tax revenue to sustain itself............

- UNC/PNM would use dis as opportunity to diversify, but i doubt dey will...

[Garrett Inside]

Didn't BP fire like 300 workers some years ago, same time schlumberger was reduced to a skeleton staff, in trinidad. This was like 6 or so yrs ago. This seems like a normal cycle if profits are affected.
Correct me if I am wrong.

[tr1ad]

It's standard cycle
Not the first time big layoffs in the industry and not the last

[Casper23]

But why are ppl so shocked and amazed...it is the inevitable...im shocked its only 1000

[Allergic2BunnyEars]

I'm shocked that people are shocked that people are shocked.

[teems1]

Shrug, only a few days ago a judge ruled that the max fine they could receive for the Deepwater Horizon accident is $13.7b USD.

http://www.theguardian.com/business/2015/jan/16/bp-fine-oil-spill-gulf-mexico-cut-deepwater-horizon

They were going to have to cut costs worldwide... The low current price of oil may be forcing their hand also...

[88sins]

Not saying they didn't have to cut costs, but the question is really about how they cut costs.
14 billion in fines for that spill is nowhere near enough, but what yuh go do? judge hadda eat a food to inno.

& the low price of oil currently is a factor in their decision, but , that low price is temporary. When prices increase again,they will not be taking on staff because of the price increase. They will remain with the skeleton crew because it's less ppl to pay for the same amount of production.

[cutterz]

I'm shocked that people are shocked that people are shocked.

lawdddd

[TRDGUY]

This have been going on for quite some time now. Nothing new ......

[acesinghit]

Study BP.....what will happen to triple D's?

[RBphoto]

If you don't make hay while the sun shines, expect a lean winter. Many a crisp Legacy and SantaFe going to be popping up in the classifieds just now.

[TurboSingh12]

Sooner or later all those Temporary Petrotrin workers will be the same!

[RBphoto]

^^Mos likely later.

[crazybalhead]

Rainman, you could geha wokk for me in Bp?