So layoffs for L48 or not?
10 replies (most recent on top)
In Rockies we don't have many people left. I don't see them in break room, bathroom or parking lot not sure who they would cut!
A lot of people are not working they are camped out in the handicap stall for hours. I got work to do please go back to your desk.
Having no knowledge of timing of layoffs, but I would guess announcement will take place before the end of the month! Conserving cash is paramount! The longer COP keeps employees on the payroll the greater the losses! My advice to the employees insure you have all of your personal items out of the office, copy all of your contacts now and don't make any major purchases where you have finance it! Word to the wise, cash is king on a down turn of the financial market!
Well then at least we have jobs til June!
... maybe he is staying to June to manage a sale of the company.
3 rigs and a hord of employees to support those rigs! Yes, there will be layoffs! Do you trust Lying Ryan? One of the last things he will do is lay off another 25% or more (my guess) as he slinks out the door.
Yes, it will be tough to hire back folks and make them productive quickly:
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No onboarding or training on how things are done in ConocoPhillips
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Nothing written down and poor internal audit results
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Weak internal standards
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Data silos, data hording
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Uncooperative coworkers
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Authoritarian fear lead management
Whi wants to share some onboarding stories?
For others it's a simple tradeoff between the cost to keep employees doing nothing and the cost to hire folks back and get them productive when things get better. However, cashflow is a higher priority for ConocoPhillips. Fortunately there is no onboarding process to hire folks back and make them productive quickly - it will be interesting to see which wins: business reality (cashflow), or business incompetence (no onboarding). Of course things are settup that way to ensure that veteran ConocoPhillips employees can keep their jobs and new hires perform poorly.
Oh...I dunno, 3 rigs and how many employees? I'm sure you need all of those people in the Lwr 48 to run the program.
Once Mr. Ryan is gone, there will be more layoffs. The board and institutional shareholders are most likely demanding them. The way the company is staffed with more personnel than work is a waste of capital. The cutting of the dividend was the last straw for the MAN.