Quote:
Originally Posted by Firebot
Imperial already outsourced many of their staff prior to this announcement. QP is a ghost town compared to what it used to be, with many of its operations managed by Exxon Mobil globally.
Likely, this is in preparation to fully dissolve Imperial Oil as as a separate entity from Exxon Mobil.
Frankly, it sucks. I'm sure it's easy to point fingers and put the blame wherever they can (WFH, UCP, Calgary, whatever narrative you want to chose), but this is the cold hard reality is that yet another significant employer has just decided to exit out of Calgary.
This is not purely a non-Canadian entity problem, but global companies have much easier avenues available to outsource from within the company.
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No. I have heard the inside scoop and knew this was coming. It’s not the bolded, and the hit is primarily going to be Calgary while they keep Edmonton / Fort McMurray as primary field offices. Calgary may have a handful of jobs left.
Traditionally Exxon-Mobil, which really is only majority owner of Imperial shares (so essentially calls the shots) has kinda left Imperial to run itself. And traditionally Imperial has done an excellent job of that. But I believe Exxon-Mobil is going through a bit of a worldwide “why do we have all these regional “head offices?” Conondrum where they feel they should only have 1 or 2. So goodbye Calgary and I’m sure key people will have the opportunity to stay aboard if they want to move to Edmonton, Houston or Fort McMurray. But I don’t think all the above means rebranding to Exxon-Mobil as that’d be expensive and no real good reason. Imperial still has a good brand and they make a ton of dough off the oilsands so it’s not like they’re leaving, just the jobs. A normal government, like the international ones, force US companies to hire XX number of people though…………
Feel for those that I’m friends with and good people getting this hammer. Between Petronas, ConocoPhillips 25% cuts coming in November, and others- multiple companies facing bankruptcy and gas being negative all last week… oil isn’t exactly screaming… tough times for the oil patch. For this quarter. It’ll be back eventually. Always does.