AM I NEXT? NO LOVE AT BOOMERANG TUBE

Chesterfield, Missouri-based Boomerang Tube, a producer of pipe and tubing producs for the oil and gas industry, has announced that it will be laying off 185 employees, including 50 salaried employees and 135 hourly workers, at its Liberty, Texas production facility.

The 500,000 square foot Liberty, Texas facility houses heat treat capability of 300,000 tons per year and two Electric Resistance Welding mills with 480,000 tons of annual capacity for ERW pipe. We offer full in-house finishing with two PMC and CNC thread lines along with a dedicated Semi-Premium thread line, and our high-speed hydrostatic testers keep up with mill speeds and assure quality. The Liberty facility also boasts two full length, full body phased array ultrasonic inspection units and advanced threading capabilities.

The company was majorly affected by the global downturn in oil and gas production and the pandemic-induced reduction in the use of petroleum products.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SABLE PERMIAN RESOURCES

Houston, Texas-based Sable Permian Resources, an independent Permian-based oil and natural gas company, has announced that it will lay off all 180 employees, including executives, as a consequence of its billion-dollar bankruptcy filing. Layoffs will commence in early February, 2021.

“Due to their quickly declining financial liquidity positions and upcoming debt payments, the debtors (Sable and its subsidiaries) were left with no viable option other than to commence these Chapter 11 cases.

It appears that a Court-approved restructuring plan would transfer ownership of the company to its creditors in exchange for debt forgiveness and the new owners have decided they will maintain and exploit the company's assets through a new operator.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SHELL (03/14/24)

MARCH 14, 2024 — 20% REDUCTION IN DEALS TEAM

The company has announced another cost-cutting initiative that will see a 20% reduction in force in its mergers and acquisition teams which numbers in the hundreds.

According to a company spokesperson, "Shell aims to create more value with fewer emissions by focusing on performance, discipline, and simplification across the business. Achieving those reductions will require portfolio high grading, new efficiencies, and a leaner overall organization."

JULY 1. 2021 — BIG CHANGES COMING TO SHELL

The company has announced its intent to leave Aera, its Bakersfield, California-based oil and gas producing joint venture with Exxon Mobil Corp.

This follows the company’s continuing divestiture of carbon-intensive operations to meet the challenges of stricter climate goals in the future, including the potential sale of producing assets located in the Texas Permian Basin.

The company has already sold its refinery in Washington state to Holly Frontier Corp and its stake in a Houston-area refining joint venture to Petroleos Mexicanos.

The company is also considering a sale of its assets in the Permian Basin of Texas, Reuters previously reported.

DECEMBER 29, 2020 — 698 SHELL LAYOFFS WITH COMPLETE CLOSURE OF CONVENT REFINERY.

Houston, Texas-based Royal Dutch Shell has announced that they are continuing to close their currently shuttered Convent, Louisiana, refinery beginning on the last day of February 2021.

Approximately 698 employees (including 340 union members) will be laid off with a small crew employed for maintenance and clean-up until third-quarter 2021 in preparation for an extended shutdown and possible sale.

The operation became unprofitable due to the global downturn in the gas and oil industry and the impact of Covid-19 restrictions on travel and destination sites. The company also indicated that the "1,100-employee (700 employees, 400 contractors) complex that produced jet fuel, gasoline, and diesel didn’t fit into its plans for a low-carbon future."

The company’s other refinery in Norco, Louisiana and its chemical plant in Geismar, Louisiana are unaffected at this time, but the company is still offering a voluntary severance program for some workers at its Norco refinery.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?