|
|
Post by goingworldwide on Jul 27, 2022 3:11:20 GMT
Evening,
I have verbal commitment and am hopeful for an offer soon.
Now I have lots of questions, but the biggest one is I was wondering if Aramco has ever done layoffs? With the world likely heading towards a global recession, regardless of the geopolitical conditions and commodity prices, was just wondering if anyone has known or heard of layoffs and how they may work if they were to occur at Aramco?
Thanks!
|
|
jrs
Senior Member
Posts: 379
|
Post by jrs on Jul 27, 2022 4:25:06 GMT
Yes, Aramco has laid off in the past including expats. Most recent was at the beg of Covid in 2019/20 when oil fell to $50 or maybe lower - can’t remember how low it got. For obvious reasons, I believe the layoffs were worse than if you were in your home country. I heard it was pretty disorganized, unsympathetic to some expats and several were forced to sell things cheap and quick because they had to leave Aramco & KSA. I believe the company was realistic in giving expats enough time to pack and get things in order. I assume most received some type of severance.
All that being said, I don’t foresee any deep recession on the horizon that will drive down oil prices that would cause Aramco to consider layoffs in the near future; however, like any other company or job nothings guaranteed.
|
|
|
|
Post by goingworldwide on Jul 27, 2022 14:47:06 GMT
Greatly appreciated - do you know if they do and layoffs in a targeted manner? I.e. lower performance individuals, individuals close to or able to retire, admin/support functions before engineering/safety/tech?
|
|
jrs
Senior Member
Posts: 379
|
Post by jrs on Jul 27, 2022 15:10:49 GMT
Yes, I believe layoffs in the past were targeted to low performers and prob some close to retirement. I'm not at Aramco and haven't been since 2013 (left on my will - not laid-off) but I heard from one individual that survived the layoffs in 2020 that Aramco management really didn't want to layoff but was pressured to by the Saudi govt to do so. Since other oil majors were laying off due to low oil price, the Saudi govt felt they needed too to keep up Aramco's stk price for it's recent IPO. Not sure what the haircut was for expats but believe it was less that 25%.
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Jul 27, 2022 18:21:38 GMT
Yes happens and is getting worse from what i hear. Google Aramco layoffs, there is an entire forum dedicated to it…
|
|
|
|
Post by goingworldwide on Jul 27, 2022 19:48:31 GMT
Thanks again all for context - it did seem like they did do them in 2020 due to COVID impact but not really seeing anything bubble up recently.
|
|
|
|
Post by goingworldwide on Jul 27, 2022 21:15:52 GMT
Does anyone have any tips for how receptive Aramco has been to negotiating your base salary?
|
|
jrs
Senior Member
Posts: 379
|
Post by jrs on Jul 27, 2022 22:13:44 GMT
They also had a small cut in 2018 (precovid). I had couple expat friends impacted. Although one was a friend, I believe he got a bit lazy his latter years there and under performed. Plus he wined quite a bit.
|
|
|
|
Post by BlueStaff on Jul 28, 2022 3:09:49 GMT
They also had a small cut in 2018 (precovid). I had couple expat friends impacted. Although one was a friend, I believe he got a bit lazy his latter years there and under performed. Plus he wined quite a bit. I wouldn't call around 700 expats in 2018 "small". If either you or Aramco decide to part ways there is a 90day notice period which is needed to clear the processes and sell up etc. One former colleague hung on for the entire 90 days as it was cheaper for him to be here than to go immediately to the US. The package is generous either way, and improves year on year - way more generous than most Western countries will give. If its a dismissal case tho you could actually be gone instantly with zero compensation. |
|
jrs
Senior Member
Posts: 379
|
Post by jrs on Jul 28, 2022 4:50:47 GMT
You prob would know better than I would on the cuts. So which layoff was larger the one in 2018 or the more recent Covid layoff in 2020/21. I also heard several expats bailed on their own because of the extreme lockdowns there due to Covid.
|
|
