The Future of BP's American Employees
The Future of BP's American Employees
The Future of BP's American EmployeesAs many in the UK demand President Obama cease his promises of "kicking ass" in regards to BP and its catastrophic environmental disaster and threaten to end, as one reporter calls, "the British love-in with Barack Obama", there are around 23,000 Americans who are employed by the British oil giant and are wondering how much longer they will have a job. Because the White House announced this week the possibility of suspending or withholding its next dividend payment next month, concerns are growing that BP's shares will take a major nosedive, even as stocks rose in mid-June.
This news comes on the same day that environmental experts say the true number of gallons of oil spewing could be as much as two million. Up until this news, BP was confident it had the financial backing to pay out claims while also covering the expenses associated with cleaning the oil from coastlines and the Gulf of Mexico. That appears to be in jeopardy, says A. Harrison Barnes, employment coach and founder of Hound.com. The company continues to insist is has the financial means, even as the numbers continue to grow. It's clear to financial experts, however, BP does not have a bottomless pocket.
Now it appears the Justice Department is involved and is the agency responsible for determining whether or not the dividends will be withheld. Worries are growing that the oil giant may face the potential for a takeover. The Hound.com founder says many are suggesting China may be interested. This is certainly cause for concern, and if you're one of the 23,000 BP employees located in the United States, it's going to lend to considerable uncertainty. A. Harrison Barnes says such a move could affect the company's ability to pay into pension funds, both overseas and within the U.S.
So what does this mean for BP's American employees? Like the oil spill itself, the country as a whole is in unprecedented territory. No one is able to answer many questions; still, there are suggestions some current BP employees are already beginning to polish their resumes and ensure their own interests are protected. It's not unreasonable to believe there possibly could be a sharp rise in the number of engineering jobs, upper management and even jobs for scientists in the near future. The Hound.com founder is quick to reiterate the importance of not allowing panic and fear rule the day. "There are still many variables in this tragedy and in many ways, the world as a whole is in unchartered territory".
For now, the effects of this spill have far reaching global implications and unfortunately, it appears many on both sides of the world are beginning to take sides. This, in no way, can lead to anything good and will certainly not do anything to expedite the still-flowing mixture of oil and fuel in the Gulf of Mexico. The longer this continues, the worse it will become on every imaginable level.
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