Ever think that COP will either reduce or eliminate the VCIP this year just to piss people off enough to leave so they don't have to give them a severance package?!?
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We are still getting vcip payout at 75% ....still getting any amount of vcip is good news not bad!
VCIP replaced by Pinkslip! Get a clue!
Glad I got let go last year. Found work in petrochemical. If your out of work, look there. Some are still hiring. If your still there, you should be looking. Going to be way harder to find employment as the year goes by.
Perhaps its time to designate a section of the parking structure as a used car/truck lot so that VCIP-starved COP staff can sell their shiny rides to the VCIP-rich P66 staff.
P66 has announced their VCIP town hall will be Feb 12th and merit raises will go into effect March 1 (they delayed them from march until August last year.) Pretty sure that with the refining margins last year they get paid pretty well above target.
3 years ago COP couldn't wait to ditch those "losers", now they're the ones getting paid and a shiney new campus as opposed to our dump.
Who's laughing now?
So glad as a part of layoff I am garunteed mine.
What struck to me was how many bad decisions were made and no effort to contain cost was done much earlier. Only cost cut that was thought was to layoff employees. For example the contractors were being paid high rates by industry. The higher rates that were there during transition to p66 were never reduced !! How come no one thought of that.. When the times were bad other avenues to cut cost were not explored .. How can an experienced Oil industry veterans can be so dumb.. is beyond imagination.
Mine mine mine mine
COP stock price down 10% today. The end is near, profit sharing or not.
I need that bonus, I want my BONUS. I am the only one being honest here. I don't care about any of you I just care about me. Layoff the whole damn company but give me MINE!!!!
BINGO! That will come soon enough. Tons of articles on the internet about how energy companies are reducing salaries. After we lay off everyone we can and limp along with a skeleton crew they will want to cut salaries for those who remain.
Just out of curiosity, if it's a genuine profit sharing plan, and profit is negative (losses), shouldn't we have to pay back some of our salary?
No brainer - look at the stock and oil prices!
Stock is at $34 today, enough said. No raise no VICP. More layoffs to come sooner than later.
Would you rather have a job or get a VICP. Or maybe your one of those who would rather see their coworkers loose their job so you can have a bonus. Hmmmm. Or maybe your one of those that think they deserve one no matter what because your you. To be responsible to share holders they shouldn't give anything to us. Stocks are going down and the investors don't have any confidence in COP.
No way the profit sharing could not be zero. The company is loosing billions a quarter and the analyst have stated as such. The source is the analysts noting losses in the billions per quarter.
Better to sell assets and/or tap into credit facilities to fund VCIP.
What
Source? You are just creating stress and fear.