From what I've been hearing from multiple people is that another 5% of the global workforce (primarily Houston corporate) is on the table to be laid off prior to the end of the year. Whether it happens or not is mainly tied to stock price and how financial metrics would need to change (ie. reduction in G&A) as the earning and market cap go down. This is not guaranteed but from what I am hearing is that it has a greater than 50% chance of occurring. I really hope it doesn't, but felt that I needed to share the information to all.
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Just so you guys know, Apache has not one but two private jets in their hanger at IAH. I got to tour them, they were super nice. They had a ton of fine liquor as well. Christman makes like ~14k every day, 365 days a year. If Apache gets bought, he will know when, and he will own a ton of stock. Meanwhile we keep having good people getting laid off. Its not right.
Global workforce is right around 4,000 currently
Bloated salaries at the top need to go first.
Heads will roll!
If management believes that head count should be based on the company's stock price or market cap--instead of on actual workload and need--then they truly are incompetent.
What's Apache's current global workforce number? Hard to know what 5% of the global workforce is if you don't know the global workforce number.