yes. yes. yes. if you don't kiss ass you are gone
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Yeah, managers definitely need to step up to the chopping block. Way too much middle management at APC anyway. You could probably axe 20 managers as apposed to 40 regular workers.
What do you call 1000 middle managers chained at the bottom of the ocean?
A good start ;)
I'm ready for a lay off to start, I hope they start with majority of the incompetent managers that don't do shit all day but baby sit their staff. Give their ass a good scare,.which is what we need. These managers think they're God and walking around like their shit don't stink.
It really was not actually that figure as far as cash goes. The write-down on reserves was 1.9 billion of that, and that is going on with most all oil companies. It might affect the value of the APC reserves, but it did not come from bad investments or dry holes. So the number sounds huge, but the actual cash loss was no where near 2.25 billion. That is why the stock was not hammered.
"Strong balance sheet and great assets?" I don't think the $2.25 billion loss is indicative of a strong balance sheet. And the assets are only as good as the market rate, which plummets by the day as other companies flood the market with their assets and would-be demand dwindles.
Today the company reported revenues 25% below expectations or 600 million dollars and they lost 2.25 billion dollars in 3 months.
And energy prices are dropping more this quarter
If the CEO and his executive team wants to keep their job there will beclarge cuts and soon. Investors will make sure of that
APC = fat bloated complacent cow of a company.
APC has a strong balance sheet and great assets. To this point they have held on to people, so I think they will give it until the end of the year before really putting any large scale layoff in place. I personally think if they had a Voluntary Separation Plan for people nearing retirement age that many would take it. The experience will be lost, but there will be people around that can keep things going. As in all layoffs I would hope the low performers and malcontent would be taken care of first in a layoff process. There seems to be a lot of people that want to go, so maybe a little push out the door would help.
yes, did you think APC was immune to the current market situation and was already running a lean, mean ship ?