Could this be a consequence of the continuous cost cutting we've...

Could this be a consequence of the continuous cost cutting we've seen in the oil&gas industry since 2016?

A lot of experienced personnel have been either laid off or accompanied to retirement without really bothering in securing appropriate transfer of knowledge to a mid tier tech and management personnel.
Both issues we've experienced so far in this well are operational. A seal can fail if the part is not placed properly and then pressurised...

It'll be nice to have an explanation from our management on what is going on and, more so, what will be the measures put in place to mitigate the issues generation.