I tried to get the any new information about the layoffs from my supervisor and I got the standard "I know its stressful, just hang there" speech. But, the odd thing is, a few hours later, I got a request thru linked-in from him. Either, I'm gone or he's not sure if he will be around after the layoffs.
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The assertions of "facts" here are nonsense. SJBU to be "merged" with Concho? Oh please! SJBU would have to be purchased by, not merged with Concho. Concho has a $12B market cap; SJBU is worth about $14B. Also, Concho is a Midland based, Permian only, company. Why would they be interested in a New Mexico gas asset. For the COP folks who don't understand the size of SJBU there are over 10,000 operated wells and 1.3 million acres of HBP acreage. This accounts for 10% of total COP value/revenue and 30% of Lower 48. I really doubt the company would spin it off unless they loaded it up with debt and made it a standalone company which would be really cool. The big fear is that SJBU is relocated to Houston
Thank you for the information provided. I have not been with COP near as long as many of you that have posted and was not sure what expectations to have. I have enjoyed the time I have had and have been grateful for the provisions that my family has benefited from. I hope I am able to continue to work past this year.
This is the most sensible page I've read here. Follow the advice given. Concho Resources is a good company. Good luck to all.
Do they plan on announcing the concho and SJBU merger before the layoffs?
Sjbu has been mergered w another operator. (Concho resources).
Finance goes w admin..at least that's the way mgmt has it grouped.
Corporate treasury is looking at 60% decrease.
So Finance isn't being cut? Or you include that in adm support?
How can SJBU be done? Has that asset been sold?
First geoscience (25%), then administration sopport (50%), then procurement (35%), engineering (30%), last is management and IT (35%).
SJBU is done, RBU is done (except Bakken core), GCBU will take heavy hits. That's all I can speak to...
It will start as soon as the second week of Sept.?? Wha locations first?
Start applying...2nd week of sept it's gonna be brutal.
Start applying for jobs. Start networking with future employers. Check the refining companies for jobs - they are hiring. So are companies in the Middle East. The outplacement company is not too useful - but helps with socializing. Everyone who got jobs here in Canada was through personal connections - almost no one got it by applying to random companies. Good luck, and it will all work out.
Print goals, monthly reports, performance reviews and recommendations for future reference for interview and resume material. Print a copy of the the current paycheck advice. The moment you receive the call to the conference room you no longer have access to all ConocoPhillips resources. Print contacts and contact information. Eliminate all personal information stored on ConocoPhillips resources.
Another good thing to do is change email accounts to personal email on professional societies, airlines, hotels, newsletters, etc. if you use COP email address and have forgotten passwords, you can't reset because you can' get an email.
Update LinkedIn above all else to prepare for the job search. And accept the request!