March 1999

Special Report: Instrumentation and Control

Knowledge capital

As oil industry companies continue to merge, consolidate and downsize, a natural outcome is a decline in the number of workers. This trend that started in the late '80s has resulted in what Joseph Sta..

Nakamura, D. N., Hydrocarbon Processing Staff

As oil industry companies continue to merge, consolidate and downsize, a natural outcome is a decline in the number of workers. This trend that started in the late '80s has resulted in what Joseph Stanislaw of Cambridge Energy Research Associates (CERA) terms a "loss of knowledge capital." In other words, as workers are laid off or are induced to leave with hefty severance packages (often middle- or upper-management types), they take with them many years of experience and wisdom – "knowledge capital." Industry trends. This trend, as well as others, was discussed at a recent press conference held by CERA and Arthur Andersen in conjunction with the release of their study entitled

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