Thread regarding Apache Corp. layoffs

More on the way, I’m afraid

A few readers here are probably aware the company intends to offload some Permian properties pretty soon. The list is already quite long and will likely grow. Unfortunately this means quite a few individuals will be shown the door.

Again, Apache pulling the unimaginative, MBA-type move of cutting expenses (and a ton of REVENUE, btw) without considering (or maybe considering and not caring) further erosive effects this move will have on the company’s ability to service debt, maintain dividend, or stymie the rapid loss of employee morale.

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Post ID: @OP+18Teh63B

10 replies (most recent on top)

Why so many admins for the 14 floor?

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Post ID: @3amy+18Teh63B

Apache was rated junk for a reason. That reason is largely Cmann.

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Post ID: @3hqo+18Teh63B

Those who are lying, digging ditches for others, keeping their friends hired, anything unjust - eventually you will pay the price. The Boss is awake - listening and watching!

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Post ID: @2grd+18Teh63B

Who's left that could be let go? If they decide to sell some Permian assets there's barely anyone working them anymore, they'll just move them to other projects.

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Post ID: @1etf+18Teh63B

You are LITERALLY being graded by your manager against your co-workers as you read this. It's a nifty new grading scale HR recently implemented. Ask your manager directly. Like cattle at the stockyard.

You are nothing but a number to Apache.

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Post ID: @1iwx+18Teh63B

They're not going to let anyone go, all that stuff happened last year.

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Post ID: @1jrk+18Teh63B

Remember, if you do not plan and wait long enough, it becomes a crisis and emergency. Then any decision is a good decision, because a decision was made. No time to go back and study or think about, could it have been different, what if.... That is for arm chair BOD. Damn the torpedos and full speed ahead. Time for pre-meeting, meeting to work on next emergency.

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Post ID: @hac+18Teh63B

Apache’s executives have never been imaginative.

They have always been distracted by shiny objects and trying to follow what some other company is doing without any understanding of whether the same works with Apache’s assets or skill-sets. They have no vision and no understanding of how to successfully run a company for the long-term.

The past decade has been a complete failure for Apache. From sinking billions into LNG to sinking millions into several horrible acquisitions (Cordillera, for starters, but there have certainly been others) to sinking billions into Alpine High, the company has lurched from one bad decision to another.

That the executives continually fail and make bad decision after bad decision is amazing, but it is even more amazing to see that almost none of them have suffered any consequences for their failures.

It is well beyond time for the entire executive suite to get sacked and replaced with true leadership that offers sound vision, imagination, and understanding.

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Post ID: @qtf+18Teh63B

There's nothing left. Late 21 is going to be bleak.

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Post ID: @nqa+18Teh63B

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