Source in HR that was correct with everything last year told me the details of the upcoming layoffs. Lists from supervisors with all team members ranked are due at the July. EOI will again be made available in August. Announcement of layoff will be made mid September. The target is 10% global layoff with US BU's laying off as much as 20-30%.
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How about laying off 90% of the HSE staff? Come on ELT, just own up to it. HSE performance no longer matters. Come to think of it, when you no longer produce oil for all practical purposes, then how can anyone get “hurt”? I really got tired of hearing mid-managers say, “We hurt X people last year”. Right. Taking ownership you morons.
This lines up with the HR EOI document that was mistakenly released this week (whoops!!!).
Correct there are a lot of wells in San Juan but that doesn't mean they are producing oil. San Juan is mainly a gas play and at the current NGL and Nat Gas prices this doesn't say much for the asset..Rumor is once Niobrara goes for sale buy end of 2016 San Juan will be considered for divestment. I know it s---s to hear but its the way the numbers are going. COP future is Delaware Basin, Bakken, Eagleford, and Powder River Basin. Wish everyone the best.
San Juan Asset operates two thirds of all the wells owned by the company. San Juan is and always has been a cash cow for the company. With that said operations staff will not be cut but support staff and engineering will be on the line again. Good Luck to all and may you get your wishes!
I believe what you are saying could definitely be true. Just s---s to have to go through this all over again. Hoping that the San Juan area won't be affected much!!