To control the cost of oil will be cut more than 80,000 people

After a reporter from Beijing to Yu Chun

Four staff reduction path: 1. Natural retirement reduction, 2. Control of new staff, 3. Contract expires fire, 4. Merge some posts

According to "China's oil" message, held in Yan'an in recent days in the China National Petroleum Corporation (hereinafter referred to in oil) in 2008 leading cadres meeting, said Jiang Jiemin, president of the corporation, against the current rapid growth in business volume and employment, wages Rapid increase the total cost of the actual, planned for the next three years cut 5 percent of the total staff. According to the official website of oil statistics, in 2007 the total number of employees in the oil for 1.673 million people, as the base, the total number of layoffs will be more than 80,000 people.

In the oil revealed that this year before the June pre-tax profits fell 39 percent, only 56.4 billion yuan. This is mainly the oil refining business losses and in particular the proceeds turned over to a substantial increase drag. Analysis of the market, the layoffs in the oil should be a major cost control initiatives. One of the oil inside an interview with this reporter, "said the staff cuts mainly on the basis of the principle of reducing unproductive expenditures, cut staff, mainly in organs and departments, particularly the number of non-productive sectors. As for the policy implementation date , How the implementation of specific, not yet clear, the Group headquarters has raised the overall goal, but the decomposition of various branches. CNPC subsidiary more than 100 two units, according to this requirement may be implemented. "

These people believe that the 5 percent staff reduction would not affect oil companies in-house staff to the stability. Because, including the reduction of several aspects, one is the retirement of the natural way to reduce the second is the new import control; Third, it is part of contract workers could be fired after the expiration of the fourth through the merger of a number of positions to reduce personnel.

In addition to reducing staff salaries and standardized distribution system to better control personnel costs, the oil will be compressed in the day-to-day non-productive expenditure. Have asked the companies not allowed to purchase new, lease or purchase of luxury cars in disguise, no new Loutangguansuo to reduce various kinds of large-scale celebrations and ceremonies, conferences, competitions and group tours abroad, effective Yajian Hospitality , Travel and maintenance in office, the provisions of these costs on the basis of last year to reduce the more than 10 percent. One analyst who declined to be named, the operating profit decline in oil has affected the normal cash flow, and the compression of the cash expenditure must be the cost, can ease tensions in the oil cash flow pressure.

PetroChina expects 2008 capital expenditure to 207.9 billion yuan, of which exploration and development capital expenditure of 132.3 billion yuan. Will be more funds for investment in oil and gas business, in the existing oil has 49 investment projects in the planning and make stops, Huanjian or transferred, by dealing with investment, investment funds reduced 20.72 billion yuan. At the same time, in oil also plans to issue 60 billion yuan of corporate bonds in order to meet production needs, reduce financing costs, additional liquidity.



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