I have heard from reliable sources that there is potentially another round of layoffs in February pending some BS COS exercise...has anyone else heard this? We are in some serious $hit if this is true. Keep the axe sharpened every six months until it is just the ELT and some finance folks doing bogus LRP exercises.
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Asset sales and employees terminated if the new company doesn't won't them. Packages are over.
Even after the Sept layoffs COP is still way over staffed for the current prices, production, and drilling. There will probably be several more rounds of layoffs.
Oil needs to go above 65
No business case for oil under $50. Either the price of oil must change or the business must change. The business created via the current management does not have the foundation to survive $50 oil.
The layoffs will continue until morale improves......
I am guessing April 2017
I haven't heard that, but it would not surprise me one bit. My initial guesstimate was another round of layoffs by July 2017, unless product prices improve. Listin to a replay of the Bartlesville townhall from last week. Pay close attention to what boss man RL says about the sub 50 $/bbl product price environment we are currently dealing with. My impression is this company is up s#*t creek without a paddle.