It is well-known in the industry that staff movements are frequent (each 3 months) and lateral moves are common at Noble Group Ltd. The company is characterized by its high HR turnover.
noblegroupresearch.wordpress.com has learnt that at least 20% of the Houston Office trade floor were sacked on Monday March 14.
Noble Americas, an affiliate of Noble Group Ltd. is one of 100 trading shop in the small Houston Energy Trading community. Base salary is “decent” but 20-25 pct less than others. What matters the most is the performance bonus.
Just after the results for year 2015 were released, a performance review was conducted on Noble Employees.
It is the litmus test for the benefits.
This assessment turned out to be a total Blame Game and we know the exact details.
One employee got “poor performance” as reasoning apparently.
He, like others was told to take 20 minutes, to pack his things and clear the space.
This is not yet where the things get nasty…
The Houston office is mainly the OIL LIQUIDS segment, one of the two units in the black subsidizing Noble Group Ltd’s other trading losses and moribund investments.
Figure-1, Result FY2015
The financial statements reveal a P/L of $US 645 Million by the Oil Liquids Segment.
Meanwhile 20% of trade floor got moralised. Noble has determined-WITHOUT ANY DOUBT that they couldn’t get any benefits.