Swings in Hiring/Firing 7

[controlnovice]

About three years ago, I read in the industry papers that a few of the larger PetroChemical companies (Shell, Exxon, etc) were looking to hire in N.A. In particular, inviting engineers who had previously worked for them to interview.

Sure enough, 6 months later, I get an invite to interview.

In the '90s, they laid off so many people, that they now realized they had no-one with the 20-35 years experience.

Now, I just heard that they laid off 5000 and are looking for another 2000. (although I think that is worldwide, not just N.A.)

I know Engineering firms can go through big swings, depending on project load, but it seemed like the PetroChems learned their mistake in the '90s layoffs, but are doing it all over again.

Is this a typical process?

______________________________________________________________________________
This is normally the space where people post something insightful.

 

[KENAT]

It's called the Stock Market.

Posting guidelines faq731-376

http://eng-tips.com/market.cfm?

(probably not aimed specifically at you)
What is Engineering anyway: faq1088-1484​

 

[RoyTyrell]

a little birdie just told me that BP is already negotiating the sale of ALL of its assets in the US...

heard it hear first... but don't quote me...

 

[rbalex]

In the mid 80s to mid '90s, the petrochems and many of their associated engineering partners became almost solely sales/marketing companies - they just happened to sell/market petrochem products and engineering services.

Most of the research/development and other technical talent became concentrated in a few individuals with the concept that most scientists/engineers may otherwise be routinely treated as commodities. Virtually nothing has been spent on developing technical professionals in the intervening years, so much of the in-depth talent has been lost.

Short term profitability and quick returns are still the current fundamental national business model, so sales/marketing still trumps technical competence as long as it can be gotten away with.