Every one wants to know how much vcip will be and every one wants to know when lay-offs will be so I thin they will announce both? Any other thoughts?
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Those town hall meetings are real bs. Nothing worth anything is discussed. Wonder if mulva
sold his stock.
?
I heard they were combining severance payoffs and vcip payments into one lump sum of $1.98 for every employee still left.
Cannot wait for L48 to move into the new building.
L48 will announce further capital cuts after the fourth quarter earnings release. A small group of people are running the numbers now within Lower 48 and hoping it doesn't leak out before the call. They'll be cutting back to 4 rigs in 2016. Doesn't sound good. I've heard 40-90 % payout of VCIP.
COP is planning to pass around the collection plate at the next town hall and at the VCIP announcement. Donations are tax write-off, but the company can't afford to match.
For the sake of all the COP employees, I wish no further layoffs. Unfortunately, COP is no longer an integrated O&G like Chevron and ExxonMobil. In times of cheap oil, it's the refining business that helps the sinking production end afloat to a good degree. COP is now a Expliration & Production company since it spun-off its refining unit. Now the climate in the energy sector will hurt COP more than the other majors. Good luck to all.
Let's hope not!! We need to keep everyone in the oil field working, to produce more oil, to add to the oversupply, to drive oil down even farther!! $.89 regular unleaded, here we come!! Yippee!!
I have a family member who works for Conoco and I am very curious to know the answer to your question. He hasn't received any emails about more layoffs but I assume it is coming soon..... How often our town hall meetings?