Oil Pay cuts.

[tut]

Weatherford have just cut salaries by 10%, except for Canada where Ian gets a 20% cut.

tut

[gedi]

40% cut this year so far.
general consensus is that we're the lucky ones who still have a job.

[Danny T30TUS]

25% for me. But happy to be still be working.

Sent from my HTC One M9 using Tapatalk

[campbell]

Are these cuts to PAYE salaries or service/contact rates?

[scott_e]

I had no idea it was that bad lads , sorry to hear this.

[C7Steve]

Forecast not looking good either;

http://www.scottishenergynews.com/aberd ... s-by-2020/


Steve.

[tut]

Ian's is to his salary, unlike the UK he gets no per diems for going away or offshore. Looks as if he will have to sell his house.

tut

[111Robin]

I'd have accepted a 50% cut rather than being out of work for the past ten months. It seems a degree in mechanical engineering and 26 years experience count for nothing these days, not even royal mail bothered to get back to me after an interview for a postie job, very disheartening.

[captain]

I've had my rate cut about 40% too...but still getting 5 days a week and still getting invoices paid so can't complain.

For what it's worth, there are still subsea tie back projects going through the feasibility phases, even one or two big greenfield things kicking about. One that I'm looking at just now is viable at $40 - and its big!

And, of course, Decom projects will privide work for many years to come.

[Mikie711]

40% so far and looks like more to come.

[j2 lot]

Scottish unemployment is increasing while English figures are reducing. Obviously the oil industry counts for a lot of that but I also think the uncertainty created by the referendum and the refusal to uphold the promise it was 'once in a lifetime' means there is still a lack of investment. There is also an ongoing reduction in local authority jobs which seems to be ignored by Hollyrood. The were 250/300 steel jobs lost in Motherwell and there was a fund set up to deal with the consequences. At the same time 3000 jobs go from Glasgow and Lanarskshire Councils and it's largely ignored. Worrying times.

[campbell]

It's rough going and I'm sorry to hear of the effect on people here (and beyond - I imagine many Aberdeen NON-oil jobs will be impacted too).

I'm relieved we are not currently trying to build an independent nation right now.

[captain]

Indeed, it's having a big impact on bars, restaurants and hotels. And taxis. And financial advisors. And car salesmen. Strippers and Hookers too I bet. I'm being facetious obviously but my point is that the local economy which bypassed the recession is now going down the toilet. And the SNP are saying fcuk all. Imagine if Scotland had just become independent! A very lucky escape there.

[j2 lot]

This Thursday was the designated Independence day if Wee daft Alex & Jimmy Krankie had won

[mxvx]

Indeed, it's having a big impact on bars, restaurants and hotels. And taxis. And financial advisors. And car salesmen. Strippers and Hookers too I bet. I'm being facetious obviously but my point is that the local economy which bypassed the recession is now going down the toilet. And the SNP are saying fcuk all. Imagine if Scotland had just become independent! A very lucky escape there.

Indeed. More worryingly, they were using the 'we have the oil' argument when it was clear the future was not looking so rosey...