Bristow North Sea
Latest version is that about a dozen Aberdeen based pilots have been put 'on-notice' for possible redundency in the very short term. There may also be a few pilots from Norwich and a number of engineers but I'm not too sure of their situation.
The notice came entirely out of the blue and the named pilots have been put on leave until a decision is made allowing time for anyone to take voluntary redundency / early retirement / go across to Bond etc .....
Can somebody please remind me what we pay our dues to Balpa for ??
The notice came entirely out of the blue and the named pilots have been put on leave until a decision is made allowing time for anyone to take voluntary redundency / early retirement / go across to Bond etc .....
Can somebody please remind me what we pay our dues to Balpa for ??
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Taken from 'North Tonight'...............what a difference a week makes! OK, so it wasn't 100 jobs (yet) but still the CEO and bean counters sure can work quick to make a decision when they want to.
22/10/2003 17:01
An Aberdeen based helicopter firm has denied reports that a hundred jobs could go following a downturn in North Sea operations.
Bristows Helicopters say its carrying out an ongoing review of resources but no decision has been taken.
---------------------------------------------
ALSO From 'North Tonight'
22/10/2003 17:07
Helicopter operations at Aberdeen have declined dramatically and last month saw figures down by almost twelve percent on the previous year.
It's thought unless there's a major turnaround in fortunes jobs across the helicopter sector will go.
Reports quoting an unnamed Amicus union spokesman have claimed that a hundred jobs could go at Bristows if they fail to keep their contract with Shell.
The firm say they are conducting a review of operations which is ongoing and no decision has yet been taken on jobs. Bristows say the contract is not up for renewal until two thousand and five and have branded the claims as scaremongering.
Amicus say they are mystified as to who the so called spokesman is. They say there have been assurances by the firm that there are no immediate plans to downsize.
It's believed the firm have seventeen aircraft lying idle, eight of them in Aberdeen. Industry commentators say the situation is the worse its been in thirty years.
Scotia helicopters are also reviewing their European operations to see if they can cut down on duplication to reduce costs.
Bond Offshore Helicopters are due to begin operating out of Dyce in the summer after winning a contract for all of BPs offshore flights from Aberdeen. But there are fears there is simply not enough work for three firms.
Bristows say the prospect of another competitor is "not helpful" in the diminishing market.
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Another sad day for the industry, let down by the management and the 'earners' are first to take the bullet. So much for 'Leading from the Front' more like 'Lead in the back'
22/10/2003 17:01
An Aberdeen based helicopter firm has denied reports that a hundred jobs could go following a downturn in North Sea operations.
Bristows Helicopters say its carrying out an ongoing review of resources but no decision has been taken.
---------------------------------------------
ALSO From 'North Tonight'
22/10/2003 17:07
Helicopter operations at Aberdeen have declined dramatically and last month saw figures down by almost twelve percent on the previous year.
It's thought unless there's a major turnaround in fortunes jobs across the helicopter sector will go.
Reports quoting an unnamed Amicus union spokesman have claimed that a hundred jobs could go at Bristows if they fail to keep their contract with Shell.
The firm say they are conducting a review of operations which is ongoing and no decision has yet been taken on jobs. Bristows say the contract is not up for renewal until two thousand and five and have branded the claims as scaremongering.
Amicus say they are mystified as to who the so called spokesman is. They say there have been assurances by the firm that there are no immediate plans to downsize.
It's believed the firm have seventeen aircraft lying idle, eight of them in Aberdeen. Industry commentators say the situation is the worse its been in thirty years.
Scotia helicopters are also reviewing their European operations to see if they can cut down on duplication to reduce costs.
Bond Offshore Helicopters are due to begin operating out of Dyce in the summer after winning a contract for all of BPs offshore flights from Aberdeen. But there are fears there is simply not enough work for three firms.
Bristows say the prospect of another competitor is "not helpful" in the diminishing market.
-------------------------------------------------------------------
Another sad day for the industry, let down by the management and the 'earners' are first to take the bullet. So much for 'Leading from the Front' more like 'Lead in the back'
Excerpted from this link.
Offshore Logistics Announces Restructuring of United Kingdom Operations
LAFAYETTE, La.--(BUSINESS WIRE)--Oct. 30, 2003--Offshore Logistics, Inc. (NYSE: OLG) (the "Company") announced today that it has begun a restructuring of its United Kingdom based operations designed to reduce costs and promote operational and managerial efficiencies. Management believes these measures are necessary in order to remain competitive in the North Sea offshore helicopter market, given the current weakness in oil and gas industry activities in that market.
As a part of the restructuring program, the Company will reduce staffing levels by approximately 75 positions, or 11%, of its United Kingdom workforce over a six- month period. The Company will incur approximately $5.2 million in severance and other restructuring costs. However, the reductions will generate approximately $1.0 million in savings during the remainder of fiscal 2004, increasing in fiscal 2005, to approximately $4.6 million on an annualized basis, primarily from decreased salary costs. In addition, the Company is considering changes to its defined benefit pension plan to limit future service accruals through the use of a defined contribution arrangement and is currently consulting with employees regarding this matter. These changes will result in a reduction of benefit costs related to future service provided by employees, the effect of which has not been considered in the savings quantified above. Finally, in order to better align core competencies and management resources and increase the chances of success on future contract opportunities, the Company is exploring the possible transfer of its search and rescue and technical services operations into one of its existing joint ventures.
George Small, Chief Executive Officer and President of Offshore Logistics, Inc. said, "We regret the impact these changes will have on our U.K. workforce. However, management has carefully evaluated the Company's operations and has concluded that in order to remain competitive in the North Sea, we must take action now to reduce operating costs and streamline these businesses."
Offshore Logistics Announces Restructuring of United Kingdom Operations
LAFAYETTE, La.--(BUSINESS WIRE)--Oct. 30, 2003--Offshore Logistics, Inc. (NYSE: OLG) (the "Company") announced today that it has begun a restructuring of its United Kingdom based operations designed to reduce costs and promote operational and managerial efficiencies. Management believes these measures are necessary in order to remain competitive in the North Sea offshore helicopter market, given the current weakness in oil and gas industry activities in that market.
As a part of the restructuring program, the Company will reduce staffing levels by approximately 75 positions, or 11%, of its United Kingdom workforce over a six- month period. The Company will incur approximately $5.2 million in severance and other restructuring costs. However, the reductions will generate approximately $1.0 million in savings during the remainder of fiscal 2004, increasing in fiscal 2005, to approximately $4.6 million on an annualized basis, primarily from decreased salary costs. In addition, the Company is considering changes to its defined benefit pension plan to limit future service accruals through the use of a defined contribution arrangement and is currently consulting with employees regarding this matter. These changes will result in a reduction of benefit costs related to future service provided by employees, the effect of which has not been considered in the savings quantified above. Finally, in order to better align core competencies and management resources and increase the chances of success on future contract opportunities, the Company is exploring the possible transfer of its search and rescue and technical services operations into one of its existing joint ventures.
George Small, Chief Executive Officer and President of Offshore Logistics, Inc. said, "We regret the impact these changes will have on our U.K. workforce. However, management has carefully evaluated the Company's operations and has concluded that in order to remain competitive in the North Sea, we must take action now to reduce operating costs and streamline these businesses."
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Special 25
Was this really out of the blue (even ignoring the formation of BOH):
Flight International (30 Sep - 6 Oct 2003) in news from Helitech reported:
"Bristow Helicopters, OLOG's UK partner, is to continue with its aggressive cost-saving project as competition intensifies in the shrinking North Sea market.
Bristow is targeting offshore markets in Africa, Asia and the Americas to replace European operations.
... Bristow expect a 15% decline in market volume in the North Sea over the last 5 years. This fall gives an indication of the targeted cost savings...."
Edited addition - Today's Scotsman: http://www.thescotsman.co.uk/business.cfm?id=1199322003 Select extracts:
"BRISTOW Helicopters, one of the North Sea’s major operators, yesterday announced plans to cut 50 jobs at its Aberdeen and Norwich bases because of a 20 per cent downturn in offshore work.
A similar number of jobs could be shed at the company’s headquarters at Redhill in Surrey as part of a major restructuring of the company’s operations, aimed at ensuring its future competitiveness.
Union leaders expressed fears earlier this month that up to 100 jobs at Bristow’s Aberdeen base could be lost because of the slump in oil industry helicopter flights."
Q: Any more details on the "SAR and technical services joint venture(s)"?
Was this really out of the blue (even ignoring the formation of BOH):
Flight International (30 Sep - 6 Oct 2003) in news from Helitech reported:
"Bristow Helicopters, OLOG's UK partner, is to continue with its aggressive cost-saving project as competition intensifies in the shrinking North Sea market.
Bristow is targeting offshore markets in Africa, Asia and the Americas to replace European operations.
... Bristow expect a 15% decline in market volume in the North Sea over the last 5 years. This fall gives an indication of the targeted cost savings...."
Edited addition - Today's Scotsman: http://www.thescotsman.co.uk/business.cfm?id=1199322003 Select extracts:
"BRISTOW Helicopters, one of the North Sea’s major operators, yesterday announced plans to cut 50 jobs at its Aberdeen and Norwich bases because of a 20 per cent downturn in offshore work.
A similar number of jobs could be shed at the company’s headquarters at Redhill in Surrey as part of a major restructuring of the company’s operations, aimed at ensuring its future competitiveness.
Union leaders expressed fears earlier this month that up to 100 jobs at Bristow’s Aberdeen base could be lost because of the slump in oil industry helicopter flights."
Q: Any more details on the "SAR and technical services joint venture(s)"?
Last edited by zalt; 31st Oct 2003 at 15:11.
Zalt,
You are right of course. It could have been predicted and I'm not sure how blind we have been, but historically (and I've been through this a few times now !!) we've always had a good idea that it was coming. Even walking into this meeting, none of us expected to be saying goodbye to our collegues there and then.
There was an announcement from the Unions last week, deliberately put out to press, but that just spoke about our obvious requirement to reduce numbers if we lost a major contract in a couple of years - No particular surprise there. With the imminent retirement bulge just about to kick-in, it looked as if natural erosion of pilot numbers would suffice. I guess we were wrong, but I think its the fact that no rumours had gotten through to us before hand that has put us into shock.
The pensions side of things was more predictable, and we've been through every possible option there. Just a few years left to hang on .................
You are right of course. It could have been predicted and I'm not sure how blind we have been, but historically (and I've been through this a few times now !!) we've always had a good idea that it was coming. Even walking into this meeting, none of us expected to be saying goodbye to our collegues there and then.
There was an announcement from the Unions last week, deliberately put out to press, but that just spoke about our obvious requirement to reduce numbers if we lost a major contract in a couple of years - No particular surprise there. With the imminent retirement bulge just about to kick-in, it looked as if natural erosion of pilot numbers would suffice. I guess we were wrong, but I think its the fact that no rumours had gotten through to us before hand that has put us into shock.
The pensions side of things was more predictable, and we've been through every possible option there. Just a few years left to hang on .................
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Not sure about the surprise of pilots getting the chop yesterday, as the rumour of redundancies among the pilot force has been around for a few months now, as has the rumour that the company were going to make an announcement, which they kept putting back. The union evidently tried several times to get an answer from Redhill as to their future plans and were told absolutely nothing. The first they evidently officially knew of anything was on Wedenesday morning when they were invited to be at Redhill for a briefing yesterday morning.
What gets me is that the majority of the pilots given notice are junior captains promoted within the last 2-5 years, and have been in the company 5-13 years. None one of the co-pilots has been given notice.
Now I can understand cutting both captains and co's to reduce crewing, but just captains does not seem fair. This is the second redundancy that Bristow has done where only captains have been hit (of course they cost more, salary wise, which will be the stock reply), but what message does it send to co-pilots wanting promotion? Get promoted and then be in the line of fire to lose your job. Perhaps it is better to remain a permanent co-pilot?
I only hope that the redundancy package offered by the company is good enough to persuade some of those nearing retirement to volunteer to go early so that the junior captains get their positions back. They are all good experienced pilots who have been given notice to go. It leaves some very senior pilots who will go within the next few years due to retirement and some very young inexperienced co-pilots. All the middle ground has been effectively removed!
No doubt it is the plan to bring in more contract pilots rather than permanent staff when the work picks up a bit.
I don't believe in hacking those who have been in the company a long time or on age (as happened the last time), but I think it is very unfair to those who have served 5+ LOYAL years in the company to be given notice of redundancy yet younger and more inexperienced pilots remain who have only been in the company 1-3 years.
I hate to hear of any redundancies, but if there must be some, then it should be LIFO and rank should NOT come in to it, only time served.
What gets me is that the majority of the pilots given notice are junior captains promoted within the last 2-5 years, and have been in the company 5-13 years. None one of the co-pilots has been given notice.
Now I can understand cutting both captains and co's to reduce crewing, but just captains does not seem fair. This is the second redundancy that Bristow has done where only captains have been hit (of course they cost more, salary wise, which will be the stock reply), but what message does it send to co-pilots wanting promotion? Get promoted and then be in the line of fire to lose your job. Perhaps it is better to remain a permanent co-pilot?
I only hope that the redundancy package offered by the company is good enough to persuade some of those nearing retirement to volunteer to go early so that the junior captains get their positions back. They are all good experienced pilots who have been given notice to go. It leaves some very senior pilots who will go within the next few years due to retirement and some very young inexperienced co-pilots. All the middle ground has been effectively removed!
No doubt it is the plan to bring in more contract pilots rather than permanent staff when the work picks up a bit.
I don't believe in hacking those who have been in the company a long time or on age (as happened the last time), but I think it is very unfair to those who have served 5+ LOYAL years in the company to be given notice of redundancy yet younger and more inexperienced pilots remain who have only been in the company 1-3 years.
I hate to hear of any redundancies, but if there must be some, then it should be LIFO and rank should NOT come in to it, only time served.
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BHPS
While I understand the sentiments of LIFO its side effect is a log jam in promotions that affect the survivors for years.
Meanwhile extracts from Evening Express Story: BRISTOW WIELDS JOB AXE 31/10/03
"About 50 jobs face the axe between the company's bases in Aberdeen and Norwich. At present, 443 people are employed at the Granite City base and 49 in Norwich. The company's corporate HQ in Redhill, Surrey, which currently has 74 employees, is also in line for significant cutbacks."
"Posts will go across the board, from management down. The firm is also to look at the possibility of relocating people with other job opportunities where possible."
"Fiona Farmer, regional officer with the Amicus union, said: "We are in negotiations with the company. Hopefully, we can avoid compulsory redundancies." She added that there was no definite timescale to the progress of negotiations, and said: "We want to minimise any compulsory redundancies and that may take longer than any predicted timescale the company may want to impose on us." Ms Farmer added the announcement of job losses had not come as any great surprise to staff. She said: "There is an ongoing downturn in activity in the North Sea. You don't have to be a genius to see it's going to impact on companies that provide helicopter services." Bristow's flying hours in the North Sea have decreased by about 20 [%] within the last two years."
While I understand the sentiments of LIFO its side effect is a log jam in promotions that affect the survivors for years.
Meanwhile extracts from Evening Express Story: BRISTOW WIELDS JOB AXE 31/10/03
"About 50 jobs face the axe between the company's bases in Aberdeen and Norwich. At present, 443 people are employed at the Granite City base and 49 in Norwich. The company's corporate HQ in Redhill, Surrey, which currently has 74 employees, is also in line for significant cutbacks."
"Posts will go across the board, from management down. The firm is also to look at the possibility of relocating people with other job opportunities where possible."
"Fiona Farmer, regional officer with the Amicus union, said: "We are in negotiations with the company. Hopefully, we can avoid compulsory redundancies." She added that there was no definite timescale to the progress of negotiations, and said: "We want to minimise any compulsory redundancies and that may take longer than any predicted timescale the company may want to impose on us." Ms Farmer added the announcement of job losses had not come as any great surprise to staff. She said: "There is an ongoing downturn in activity in the North Sea. You don't have to be a genius to see it's going to impact on companies that provide helicopter services." Bristow's flying hours in the North Sea have decreased by about 20 [%] within the last two years."
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zalt
"While I understand the sentiments of LIFO its side effect is a log jam in promotions that affect the survivors for years."
Sounds like a management answer that one!
What's the point of promoting people just to make them redundant a few years later? There is no loyalty returned by the management to those that have been loyal to the comapny for a number of years and have proven themselves. That's not to say that the less experienced co-pilots aren't loyal, but they haven't gained the experience that the guys in the middle have. There is still a log jam because there cannot be any more promotions for several months or probably for a few years because of the redundancies or until the older guys retire. To me it just seems a great waste of valuable experience.
I only hope that those who don't get their job back are taken up by Bond Offshore (assuming they still want to work on the North Sea).
BHPS
"While I understand the sentiments of LIFO its side effect is a log jam in promotions that affect the survivors for years."
Sounds like a management answer that one!
What's the point of promoting people just to make them redundant a few years later? There is no loyalty returned by the management to those that have been loyal to the comapny for a number of years and have proven themselves. That's not to say that the less experienced co-pilots aren't loyal, but they haven't gained the experience that the guys in the middle have. There is still a log jam because there cannot be any more promotions for several months or probably for a few years because of the redundancies or until the older guys retire. To me it just seems a great waste of valuable experience.
I only hope that those who don't get their job back are taken up by Bond Offshore (assuming they still want to work on the North Sea).
BHPS
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When are BHL going to learn the true value of loyalty??? It is sad to see a once proud and caring company slowly (quickly) going down the tubes.
Really sorry to hear the bad news guys.
Really sorry to hear the bad news guys.
Neil Osborne has jumped ship to Tex-Air in the USA...Air Log in the Gulf of Mexico (GOM) has put an end to 14/14 rosters due to problems getting pilots to workover in the middle of their 14 days off. Little progress reported on the Air Log Collective Bargaining Agreement (CBA) for the pilots. This latest move will certainly work to improve the morale of the 75-100 pilots working the 14/14 rosters and who now get to return to the 7/7 roster. Sounds like Happy Days are here again....but OLOG stock is up right?
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Bristow loose pilots, Scotia loose major contract.
Have the North Sea pilots shot themselves in the foot by demanding huge pay rises???
The oil companies must be rubbing their hands - North Sea prices will be coming down.
Have the North Sea pilots shot themselves in the foot by demanding huge pay rises???
The oil companies must be rubbing their hands - North Sea prices will be coming down.
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BHPS
Fair call on those targeted, perhaps even a reversion in rank back to SFO/FO to fill those places held by the present ‘newbies’. At least it would have given those short listed a slightly more just reward for time served & loyalty. ‘LIFO’ would have been satisfied (albeit unfortunate for those on that list) The company would then have retained highly qualified & experienced staff and been better placed to expand to market forces should things change?
Perhaps it’s a simplistic view? A colleague inside believes, the real issue is that these redundancies are the smoke screen for the OLOG/Bristow management to bin the Final salary scheme once and for all (the big picture) Losing 15 or so Captains on that scheme will help no end as well. Top brass KC & AB will get their bonuses in OLOG shares for doing so, the books will look great.
Just a pity that the respective unions were not used to better effect in a joint effort to ‘restructure’. Effective Communication Policy is just that, not a couple of words strung together, what a waste of those MBA’s.
The full OLOG release:
Offshore Logistics make 75 redundancies in UK restructure
Source: Offshore Logistics
31 October 2003
LAFAYETTE, La. Oct. 30, 2003--Offshore Logistics, Inc. (NYSE: OLG) (the "Company") announced today that it has begun a restructuring of its United Kingdom based operations designed to reduce costs and promote operational and managerial efficiencies. Management believes these measures are necessary in order to remain competitive in the North Sea offshore helicopter market, given the current weakness in oil and gas industry activities in that market.
As a part of the restructuring program, the Company will reduce staffing levels by approximately 75 positions, or 11%, of its United Kingdom workforce over a six- month period. The Company will incur approximately $5.2 million in severance and other restructuring costs. However, the reductions will generate approximately $1.0 million in savings during the remainder of fiscal 2004, increasing in fiscal 2005, to approximately $4.6 million on an annualized basis, primarily from decreased salary costs. In addition, the Company is considering changes to its defined benefit pension plan to limit future service accruals through the use of a defined contribution arrangement and is currently consulting with employees regarding this matter. These changes will result in a reduction of benefit costs related to future service provided by employees, the effect of which has not been considered in the savings quantified above. Finally, in order to better align core competencies and management resources and increase the chances of success on future contract opportunities, the Company is exploring the possible transfer of its search and rescue and technical services operations into one of its existing joint ventures.
George Small, Chief Executive Officer and President of Offshore Logistics, Inc. said, "We regret the impact these changes will have on our U.K. workforce. However, management has carefully evaluated the Company's operations and has concluded that in order to remain competitive in the North Sea, we must take action now to reduce operating costs and streamline these businesses."
Offshore Logistics, Inc. is a major provider of helicopter transportation services to the oil and gas industry worldwide. Through its subsidiaries, affiliates and joint ventures, the Company provides transportation services in most oil and gas producing regions including the United States Gulf of Mexico and Alaska, the North Sea, Africa, Mexico, South America, Australia, Egypt and the Far East. The Company's Common Stock is traded on the New York Stock Exchange under the symbol OLG.
Statements contained in this press release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements contained in this press release include the possibility that the Company is unable to achieve the cost savings and the operational and managerial efficiencies anticipated, that the cost of the restructuring program exceeds managements estimates, that the Company is unable to effect changes to the defined benefit pension plan which would reduce its future benefit costs and finally, that the possible transfer of search and rescue and technical services into a joint venture does not occur or even if it does, that the Company is unable to achieve a more aligned management structure and the joint venture does not experience an increase in the success rate on winning new contracts. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's report on Form 10-K for the year ended March 31, 2003 and the Company's report on Form 10-Q for the quarter ended June 30, 2003. Copies of these may be obtained by contacting the Company or the SEC
From the Bristow website......
EMPLOYMENT OPPORTUNITIES
When you choose to pursue a career with Bristow Helicopters or any of its affiliates, you will have the opportunity to work with some of the most highly regarded helicopter service industry people in the world today. As part of the Offshore Logistics Group, Bristow Helicopters strives to conduct its business in an atmosphere that emphasises trust, integrity and respect with results. The Company works together with a firm commitment to safety, reliability and value for its customers. When evaluating prospective employees it seeks those with experience, intelligence, energy and motivation. If you wish to work as part of a team that places customer service and excellence of performance as the cornerstones of its business, we invite you to contact our Human Resource Department.
Varieties of opportunities occur in clerical and professional posts and experienced pilots and engineers are frequently required in locations around the world. During times when no vacancies exist you may still send a resume to our office for retention on file and consideration for future opportunities.
For more information about specific job openings.....................blah,blah
Fair call on those targeted, perhaps even a reversion in rank back to SFO/FO to fill those places held by the present ‘newbies’. At least it would have given those short listed a slightly more just reward for time served & loyalty. ‘LIFO’ would have been satisfied (albeit unfortunate for those on that list) The company would then have retained highly qualified & experienced staff and been better placed to expand to market forces should things change?
Perhaps it’s a simplistic view? A colleague inside believes, the real issue is that these redundancies are the smoke screen for the OLOG/Bristow management to bin the Final salary scheme once and for all (the big picture) Losing 15 or so Captains on that scheme will help no end as well. Top brass KC & AB will get their bonuses in OLOG shares for doing so, the books will look great.
Just a pity that the respective unions were not used to better effect in a joint effort to ‘restructure’. Effective Communication Policy is just that, not a couple of words strung together, what a waste of those MBA’s.
The full OLOG release:
Offshore Logistics make 75 redundancies in UK restructure
Source: Offshore Logistics
31 October 2003
LAFAYETTE, La. Oct. 30, 2003--Offshore Logistics, Inc. (NYSE: OLG) (the "Company") announced today that it has begun a restructuring of its United Kingdom based operations designed to reduce costs and promote operational and managerial efficiencies. Management believes these measures are necessary in order to remain competitive in the North Sea offshore helicopter market, given the current weakness in oil and gas industry activities in that market.
As a part of the restructuring program, the Company will reduce staffing levels by approximately 75 positions, or 11%, of its United Kingdom workforce over a six- month period. The Company will incur approximately $5.2 million in severance and other restructuring costs. However, the reductions will generate approximately $1.0 million in savings during the remainder of fiscal 2004, increasing in fiscal 2005, to approximately $4.6 million on an annualized basis, primarily from decreased salary costs. In addition, the Company is considering changes to its defined benefit pension plan to limit future service accruals through the use of a defined contribution arrangement and is currently consulting with employees regarding this matter. These changes will result in a reduction of benefit costs related to future service provided by employees, the effect of which has not been considered in the savings quantified above. Finally, in order to better align core competencies and management resources and increase the chances of success on future contract opportunities, the Company is exploring the possible transfer of its search and rescue and technical services operations into one of its existing joint ventures.
George Small, Chief Executive Officer and President of Offshore Logistics, Inc. said, "We regret the impact these changes will have on our U.K. workforce. However, management has carefully evaluated the Company's operations and has concluded that in order to remain competitive in the North Sea, we must take action now to reduce operating costs and streamline these businesses."
Offshore Logistics, Inc. is a major provider of helicopter transportation services to the oil and gas industry worldwide. Through its subsidiaries, affiliates and joint ventures, the Company provides transportation services in most oil and gas producing regions including the United States Gulf of Mexico and Alaska, the North Sea, Africa, Mexico, South America, Australia, Egypt and the Far East. The Company's Common Stock is traded on the New York Stock Exchange under the symbol OLG.
Statements contained in this press release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements contained in this press release include the possibility that the Company is unable to achieve the cost savings and the operational and managerial efficiencies anticipated, that the cost of the restructuring program exceeds managements estimates, that the Company is unable to effect changes to the defined benefit pension plan which would reduce its future benefit costs and finally, that the possible transfer of search and rescue and technical services into a joint venture does not occur or even if it does, that the Company is unable to achieve a more aligned management structure and the joint venture does not experience an increase in the success rate on winning new contracts. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's SEC filings, including but not limited to the Company's report on Form 10-K for the year ended March 31, 2003 and the Company's report on Form 10-Q for the quarter ended June 30, 2003. Copies of these may be obtained by contacting the Company or the SEC
From the Bristow website......
EMPLOYMENT OPPORTUNITIES
When you choose to pursue a career with Bristow Helicopters or any of its affiliates, you will have the opportunity to work with some of the most highly regarded helicopter service industry people in the world today. As part of the Offshore Logistics Group, Bristow Helicopters strives to conduct its business in an atmosphere that emphasises trust, integrity and respect with results. The Company works together with a firm commitment to safety, reliability and value for its customers. When evaluating prospective employees it seeks those with experience, intelligence, energy and motivation. If you wish to work as part of a team that places customer service and excellence of performance as the cornerstones of its business, we invite you to contact our Human Resource Department.
Varieties of opportunities occur in clerical and professional posts and experienced pilots and engineers are frequently required in locations around the world. During times when no vacancies exist you may still send a resume to our office for retention on file and consideration for future opportunities.
For more information about specific job openings.....................blah,blah
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Crabette
Yes, I agree that even reversion to SFO/FO would be a better option than no job at all. However, your colleague's belief really appears to be the motive here. Wonder where that atmosphere of "trust, integrity and respect" from the management was? The staff show it every day, shame that some of the senior management cannot return it!
Droopystop
Sorry, but you've got it wrong. The pilots only wanted to get themselves back to a level which they enjoyed many years ago (ie equality with their fixed-wing brethren) but had been denied due to the cost-cutting tactics used by the oil industry so that they themsleves maximise their own profits!!
The loss of contracts and jobs is all due to the oil compnaies, or rather one in particular, who want to bring in a new operator on the North Sea when there isn't room for one. That particular oil company since ordering the aircraft it thought it would need for the third operator, has reduced its own commitment in the North Sea so that it doesn't even need all of them now! Yet again the oil companies themselves are to blame here, not the contractors.
Yes, I agree that even reversion to SFO/FO would be a better option than no job at all. However, your colleague's belief really appears to be the motive here. Wonder where that atmosphere of "trust, integrity and respect" from the management was? The staff show it every day, shame that some of the senior management cannot return it!
Droopystop
Sorry, but you've got it wrong. The pilots only wanted to get themselves back to a level which they enjoyed many years ago (ie equality with their fixed-wing brethren) but had been denied due to the cost-cutting tactics used by the oil industry so that they themsleves maximise their own profits!!
The loss of contracts and jobs is all due to the oil compnaies, or rather one in particular, who want to bring in a new operator on the North Sea when there isn't room for one. That particular oil company since ordering the aircraft it thought it would need for the third operator, has reduced its own commitment in the North Sea so that it doesn't even need all of them now! Yet again the oil companies themselves are to blame here, not the contractors.
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Hi
Nothing seems new about this latest development with BHL. Management is trying to maintain profit margins at any cost to the employees and their families.
However, all of us flying the North Sea need to keep in mind that this kind of uncertainty will exist from day one till we retire.
Remarks that salary increases have led to this seems based on lack of know-how about the business. The oil companies have downsised drilling activities in both the UK and Norway. I believe no one in his right mind would claim that this is related to the less than 1 % of field operating cost of helicopter transportation/shuttle/SAR.
It is imperative that both we as employees, management and owners alike stay cool till the tide turns. Remember: "Tough times never last, tough people do."
As far as LIFO, this seems the only fair way to deal with redundancies. The long term loyalty of the employee should be rewarded by increased job security as time goes by and you move up the seniority list. Even if I am a younger pilot, I fully support the seniority system, and hope to be supported by it one day, if push comes to shove.
Best of luck to North Sea colleagues in BHL!
Nothing seems new about this latest development with BHL. Management is trying to maintain profit margins at any cost to the employees and their families.
However, all of us flying the North Sea need to keep in mind that this kind of uncertainty will exist from day one till we retire.
Remarks that salary increases have led to this seems based on lack of know-how about the business. The oil companies have downsised drilling activities in both the UK and Norway. I believe no one in his right mind would claim that this is related to the less than 1 % of field operating cost of helicopter transportation/shuttle/SAR.
It is imperative that both we as employees, management and owners alike stay cool till the tide turns. Remember: "Tough times never last, tough people do."
As far as LIFO, this seems the only fair way to deal with redundancies. The long term loyalty of the employee should be rewarded by increased job security as time goes by and you move up the seniority list. Even if I am a younger pilot, I fully support the seniority system, and hope to be supported by it one day, if push comes to shove.
Best of luck to North Sea colleagues in BHL!
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Hi PF
You should research carefully before deciding to accept any offers from "new" Bond. Lots of rumors fly, about terms and conditions not being very attractive for pilots desperate for a job.
Pilots with Command experience on the AS332L-series would probably fare well, while the rest might easily be slumming it.
Keep in mind the last time around, Bond was not a pilot's best friend, especially if you elected to use your right as a free citizen to join BALPA.
Best of luck to you!
You should research carefully before deciding to accept any offers from "new" Bond. Lots of rumors fly, about terms and conditions not being very attractive for pilots desperate for a job.
Pilots with Command experience on the AS332L-series would probably fare well, while the rest might easily be slumming it.
Keep in mind the last time around, Bond was not a pilot's best friend, especially if you elected to use your right as a free citizen to join BALPA.
Best of luck to you!
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Mr P.fate.
just my opinion but I think you are completely wasting your time even visiting scotland without a UK or JAR licence and even if you have that you should get a IR added to it (at your own expense)over here to to get nearer the front of the queue. which would obviously be an expensive high risk strategy.
even if they were recruiting (which they arent, the opposite in fact), I dont think would be interested at all in you with an FAA licence and would not be interested in the conversion as they have plenty of people with UK/JAR licences on their books.
yeah one of the operators arranged for a UK validation for 2 canadians once, but that lasted less than 1 year, and that was 2 years ago.
a bit depressing I know, any one working for CHC or BHL care to disagree ?
just my opinion but I think you are completely wasting your time even visiting scotland without a UK or JAR licence and even if you have that you should get a IR added to it (at your own expense)over here to to get nearer the front of the queue. which would obviously be an expensive high risk strategy.
even if they were recruiting (which they arent, the opposite in fact), I dont think would be interested at all in you with an FAA licence and would not be interested in the conversion as they have plenty of people with UK/JAR licences on their books.
yeah one of the operators arranged for a UK validation for 2 canadians once, but that lasted less than 1 year, and that was 2 years ago.
a bit depressing I know, any one working for CHC or BHL care to disagree ?
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Professor Fate
As you may have ssen on another thread, Bristow have just announced redundancies, and CHC-Scotia are likely to release pilots as well as the time gets nearer to them losing the BP work they have. Most, if not all of those pilots will very likely be looking to Bond to get work, and they will all be well qualified with plenty of North Sea experience. Prospects for new pilots trying to get in to the industry aren't looking too promising at the moment.
However, this industry turns around very quickly and who knows what next year may bring. Just be warned that a career on the North Sea is certainly NOT a job for life.
There are rumours around that Bond will not be employing anyone known to be in BALPA. Anyone care to comment?
As you may have ssen on another thread, Bristow have just announced redundancies, and CHC-Scotia are likely to release pilots as well as the time gets nearer to them losing the BP work they have. Most, if not all of those pilots will very likely be looking to Bond to get work, and they will all be well qualified with plenty of North Sea experience. Prospects for new pilots trying to get in to the industry aren't looking too promising at the moment.
However, this industry turns around very quickly and who knows what next year may bring. Just be warned that a career on the North Sea is certainly NOT a job for life.
There are rumours around that Bond will not be employing anyone known to be in BALPA. Anyone care to comment?
