General Thoughts?
11 replies (most recent on top)
20% is too much, won't happen.
BP just announced a 5% workforce reduction.
Expect somewhere between 5-10%
20% headcount reduction coming.
I expected layoffs as we neared the end of nxtgen project because one of the purposes of cloud applications is to reduce your headcount, especially in IT. The acquisition of Marathon temporarily derailed that but now it appears they are ready to revisit looking at staff reductions referring to it as Competitive Edge Project.
My interpretation of the email was not that a layoff would occur in Q1, but rather one would be announced. And the most recent email was cr-p. Just felt ominous with no real data.
Probably a smaller, 1st quarter layoff followed by The Big One in Q4.
2025 will be loads of fun!
What is the timing- 1st quarter as in the email or will the layoffs drag out through the year?
I am trying to optimize my PTO use.
At a minimum, the reductions will have to at least cover the cost of BCG, which is not cheap.
We need a 40% reduction to be competitive and to give our work real purpose. It won’t happen so we will continue our mediocre circling of the drain.
The trend is continuing to do 'More with Less' by using consultants to perform the actual work. In my naive brain, I always want these projects to evaluate the bureaucracy and red tape and streamline processes, but in the end we just lay people off and add more to the plate to those that are 'good' enough to stay and we take the opportunity to clean house.
We should be cleaning our house as part of our continuous process, but there is no backing to do such a thing.
Predict 15 percent across the board headcount reduction, hopefully packages are set at one month salary per year of service (probably capped at 12 months), prorated 2025 VCIP and immediate vesting of all prior RSU grants. Those not sacked will enjoy degradation of work environment and coordination of outsourced work contracted to less than stellar service providers. Sound about right?
The newly combined MRO and Concho LT will be working with BCG to build out the next steps in the process