There was a townhall yesterday. Any news on the Midcon reorg?
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Well we are drilling and Permian is the main focus. Marcellus has been abandoned for at least 2 years. The bad news is we have 6 rigs and 14 NOJV rigs. I think we can all agree Pioneer can do this at 1/3 the cost. The writing is on the wall. We have the staff to have 21 rigs. But we can only handle 5 or 6 because of the Chevron Way.
Everything we hear in midcon is how good we are and how the rest of the company needs us
Bruce will save us from this downward path
The previous poster said, "MidCon cuts are expected to be around 35%", which is approximately 1 out of 3 employees. So if you work in MidCon and take a look at the persons to your right and left, and neither one is to be laid off, then watch out... it's YOU.
Word at the townhall was that MidCon and GOM were going to take the majority of the layoffs as AMBU and Canada went through this in 2015. Layoffs at DWEP and SJBU were described as "limited."
MidCon cuts are expected to be around 35%, which (I think) equates to around 800 employees.
MidCon has far too many people. Way too much overhead. Slow expensive drillers, always bottom quartile drilling performance. Even slower administration. Could cut 50% and not lose much production or project work, might actually help things run faster.
@1iqe No, I'm the old "what do we know" GAL! Heck, aren't we all? Thought that was the point of this site. Just saying...
Midcon will see the least amount of cuts. I thought 35% by February. That was floated by management but now it makes sense. We still have a robust drill plan and budget. You realize how bad it is when u are glad to see a 20% reduction in a few weeks and a total of 35% in less than 2 years.
20% gone by the end of February. additional 15% (total 35%) gone by end of 2018.
Are you the old "what do we know" guy?
35% total by end of 2018.
MidCon will soon be AllGon. Get the picture?
35 additional? For a total of 55%? Or just 15 percent more?
20% gone by end of 2016. 35% gone by 2018.
New org charts went out today. That's all I know. Haven't seen yet, they were only sent to those in MCBU