ConocoPhillips Layoffs

Topics regarding layoffs at ConocoPhillips

CFO Gone Baby, Gone

I first met our old (current) CFO at an introductory group meeting where he bragged about his spoiled ExPat life growing up, moving from privileged international school to school where he admitted to constantly skipping classes to surf all day. Daddy... —  read more 

COO Retirement

From the news today: Longtime ConocoPhillips CFO Wallette to retire May 20, 2020 8:29 AM ET|About: ConocoPhillips (COP)|By: Carl Surran, SA News Editor ConocoPhillips (NYSE:COP) says executive VP and CFO Don Wallette will retire effective... —  read more 

ConocoPhillips can’t have it both ways.

If ConocoPhillips is going to claim it started in 1875 (Continental Oil Company) then it can not claim Frank Phillips as it’s founder. Frank Phillips was two years old in 1875. Phillips founded Phillips Oil Company. Continental Oil Company merged... —  read more 

Layoffs

I heard there are gonna be small lay offs so it doesn’t hit the news

Hi-Pot List

What is the hi-pot list? What are the qualifications for joining? Is it audited independently?

What Went Wrong

A discussion with an LF member about what went wrong.... not surprising. Our leader was chosen in a BOD run-around because he’s a “good old boy” and a perfect example of the Peter Principle. Our next ELT member rode the coattails of getting on the... —  read more 

CoP & CVX

Its coming. Chevron and CoP consolidate. Few m&a brokers been approached.

Shut down Bartlesville and consolidate to Houston

It’s time to cut expenses and here is an easy one to eliminate. Operating and maintaining the Bartlesville campus and airport is more expensive than you think. Give our offices and share of airport and maintenance to Phillips.

Saying what is in my heart.

If you worked with me, You will know who this is. If not, then let this be a testament. I have worked as a contractor at CoP in IT for 20+ years @ CoP. Its easy to look at the current situation and decide that the ELT has no clue. Truth is, they... —  read more 

Negative Value

So how exactly are we supposed to make any money at all when oil futures are NEGATIVE FOR MAY???? What does COP do in this situation???

Bonus

2020 bonus are under consideration to be eliminated.

Salary Cuts!

They're cutting salaries - no negotiation, no offers - they're just going to cut salaries to 2019 levels, 2020 raises, which have been in paychecks for 6 weeks now, being rolled back.

Can we expect a complete shutdown of operations?

ow probable is it for COP to shut down all operations for a certain amount of time. We have witnessed shutdowns and fleet demobilizations at certain locations due to the Covid-19 threat. Let’s face it, if the virus continues to spread at this pace... —  read more 

COP interested in Whiting's assets

With Whiting filing for bankruptcy today, we are hoping to be able to scoop up some prime Bakken assets. We were already considering acquiring them, and now they have an even bigger target on their back. Fingers crossed!

Work

Is it just me or has everyone’s work suddenly disappeared? I’m supposed to be “working at home.” I know my boss is monitoring me and asking me questions and sending me emails, and I’m pretending to be busy, but honestly I’m doing zip.

What’s Up COP?

Kinda quiet here. What’s up on the commercial front and contracts? How bad is it?

Contractors, take my advice.

only 10% of the contractors around you at EC3 will be there in 6 months. If you think your part of that 10% no need to prepare.

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Post ID: @OP+145TXGyy

Confidence

This is a real question. Besides the ELT and the Leadership Forum, do any employees have real confidence in our leadership? If so, why? Are we going to be around for a while, and deliver the results we promise annually?

Seaton

Run for your lives. David Seaton is now on the board. He ruined Fluor and got the boot.

Coronavirus- ELT is in serious denial

Shell has closed their Houston offices - not COP. We’re told it’s “optional” to stay home during this health crisis because they don’t see the infection numbers being that high in Houston. If we had testing, we would have a better picture. So... —  read more 

Our Leader’s Panic

Here’s what will happen: (1) The Junior ELT will get rolled into the ELT. Positions will be eliminated so that special 3-year executive severance packages (about $75 million each) will be activated. (2) Consultants hired, much analysis and... —  read more 

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Post ID: @OP+13ZMMHSQ

This will be bad

I have a feeling this could be the start of one of the biggest crisis yet, which means that layoffs will most likely be brutal. I don't want to sound like an alarmist, but if you don't have a backup plan ready, you should be working on one right... —  read more 

Consolidation Coming

I like ChevExxCop (CEC). Market Cap $400-$500 million (a midsize company). With 1 shared ETC and 1 Shared PRC org. with 1 Sr Exec Org based in Houston. Strengthened Permian position, 1 consolidated North America and Deepwater org., 1 consolidated... —  read more 

Uh Oh

I’m guessing no one was preparing for $20 oil. Now what will happen? Good luck!

Liquidation?

https://seekingalpha.com/article/4326188-conocophillips-hits-liquidation-accelerator I honestly hope they do it as fast as possible.

TGIF

Another week gone. Is it just me or has this entire company gone toxic? I could list inconsistencies here but I’d run out of room. Is anyone thinking about value anymore?

We are in for a long steady decline

The company has been stagnant since the split, it is difficult to get excited about anything at COP. I do believe we are in for a long steady decline and very little opportunity for growth for the mid level employees. The Middle class (mid management... —  read more 

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Not surprisingly, the subject goes to ethics, and the thread is removed. It’s what we do.

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