Rescinded offers not accepted. The on campus recruits receiving offers are in shock ConocoPhillips is offering jobs to new hires the same day ConocoPhillips is announcing layoffs in excess of 10% of the workforce.
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I know for a fact that several outstanding job offers to graduating students were rescinded today (9/1).
New hires are usually the lowest paid not enough cost savings laying them off.
You have to keep in mind most of these new hires haven't even had a performance review (or a chance to prove themselves). Cost code AT026 is for new hires and means the BU they work for isn't even getting charged for them until they become promoted to 'associate'.
What's cost code AT026 and how does it affect people?
I saw one of the new hires shot-gunning a beer with their manager at lunch. Parking level 3. They then pretended they were cars and jogged towards the exit while making engine sounds. Sounded more like a motor boat than a car.
The new hires are being kept to clean offices. They may also be asked to empty garbages, shine Trophies, and the shoes of those with them.
Half of the recruits should have never been hired. Managers treating ConocoPhillips like a country club and people spending more time down on plus 15 drinking coffee than adding value.
Laying off people who have worked about 3-4 months isn't exactly going to look good for recruiting in the future if things pick up. Some New hires are in cost code AT026 until promoted out of graduate, so it kind of depends.