Thread regarding Concho Resources Inc. layoffs

Buckle up, redundancy is expected

The media mostly writes about the consequences that a possible acquisition would have for ConocoPhillips, but there is no mention of what that acquisition would bring us. I'm afraid there will be a lot of redundancy, but the question is how deep will the cuts go?
Good luck to all!

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Post ID: @OP+17r5QFG2

7 replies (most recent on top)

Looking at these comments, Concho sounds a little like COP...I worked there for many years and took a package a couple years ago. COP will protect managers at all costs. They will be either be moved into staff positions or a position will be created for them before they will ever let any go (I never understood why as many were pretty useless). And they will be moved into the Concho organization to introduce the COP way which is large, slow and costly. So just be ready. They value a great PowerPoint a lot more than great work. I had come from and independent where getting the work done was valued and was told that was why I was hired. I was wrong and it was miserable for me because I don't play games and I don't kiss the booty. So sharpen up those presentation skills if you want to keep working for them. If not, enjoy that time you get where you are protected from them touching you and get your resume tidied up and get that retention bonus. I'd say assuming you get these things, but COP is a horrible at negotiations and you all will probably make out like bandits (Burlington acquisition was very lucrative to the Burlington folks). Best of luck to you all.

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Post ID: @4kay+17r5QFG2

COP will use a lot of contractors. Especially when it comes to lease operators. That way they won’t have to pay out on benefits.

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Post ID: @4ash+17r5QFG2

Might not be a bad time to have a full plate at Concho. Praying for the best for everyone.

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Post ID: @4pge+17r5QFG2

@1iac+17r5QFG2

TL is old. Recent change-of-control payouts for top execs gives them golden parachutes. You can tell management has given up by them basically giving away the company to COP.

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Post ID: @4eld+17r5QFG2

Why would Concho sell right now? You sell at the top not the bottom. They have nothing to gain from a sale at this point.

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Post ID: @1iac+17r5QFG2

Technical positions as well. Oh wait. They don’t have those at concho.

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Post ID: @1wvn+17r5QFG2

I would imagine biggest cuts would be in departments like HR and accounting. And probably middle management. People directly involved with field activities are probably the safest. Just my opinion. Who knows....

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Post ID: @wdr+17r5QFG2

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