And a free barrel of oil.
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New severance package includes a shotgun, $20, and a mule.
what is the new severance package?
If you are not already in Houston do not expect to ever get to Houston. The staff in Bartlesville will only last long enough to setup shop in Houston. Enough qualified candidates in Houston. The cost to move an employee exceeds the cost of the new severance packages.
Heard management seriously considering big changes to workforce in Bartlesville. Will consolidate with houston and big layoffs in bartlesville.
Be patient there will be plenty of layoffs to go around. Everyone will have their chance to get dismissed. Look at the market. We can't keep losing money and keep paying everyone for not working. Layoffs and dividend cuts are a sure thing in the next couple of weeks. We will not be able to wait this downturn out. Start looking for a job or just decide to retire.
None of the layoffs to date were performance based.
Calgary office staff are scheduled for tomorrow. All divestiture related, loose ends.
Bull. It was negative-cash-flow-due-to-oil-market-collapse related, just like everything else happening at COP. If WTI was still >$100, no one would be let go.
The divestiture of ConocoPhillips in parts to the highest bidder; aka, bankruptcy.
It's out there that this was supposedly divestiture related. I sure hope so.
I understand this to be true from friend in PRA. Glad they give us advance communication like they promised. Geez.