#divestiture

Upstream: Cold Lake, Kearl, Syncrude
Downstream: Strathcona, Sarnia, Nanticoke, Terminals, Pipelines
Chemical: Sarnia

Or does it make more sense DW finally recommends to the EM board to buy the minority interest of IOL (30%)?

I'm sure a lot of you have seen others posts around retail but I got some solid numbers. 180 stores were impacted today which they are still required to work today which is very sh---y. 179 stores will divest and one will close. It is 30 stores per market. After everything we will go down to two markets. All of the teams will be either consolidated or impacted. This also means that territories and districts will be redrawn and that will cause impacts to local retail ops.

Now they’ve sold Telefe, do you think they’ll cut the P+ teams in Argentina?

“Aggressively sunset or exit legacy businesses”
Timestamp: 0:19:06 to 0:20:17

“While we narrow our focus to invest in key growth areas, we will also aggressively sunset or exit legacy businesses where we don't see a clear path to profitable market leadership. We have a large opportunity to unleash meaningful margin improvement by doing so, and we will talk about this in more detail in January.”

“Divest and exit legacy businesses”
Timestamp: 0:28:31 to 0:29:35

“We’re going to do a hard look at portfolio rationalization and divest and exit legacy businesses where we don’t see a clear path to profitability.”

“Simpler, leaner, scrappier business” and “aggressively reducing our entire cost base”
Timestamp: 0:17:56 to 0:19:06

“We will be a simpler, leaner, and scrappier business. This work is overdue and will be multi-year and an ongoing way of life for us… We will fund these investments by aggressively reducing our entire cost base.”

“Portfolio optimization”
Timestamp: 0:43:32 to 0:44:19

“We have parts of our business that are costing us billions of dollars of margin, and I think we can think much more clearly about how do we invest in growth areas and divest or exit those that are not that for us. We'll spend more time on that in January…”

“Everything is on the table for us”
Tony Skiadas CFO – Timestamp: 0:46:32 to 0:47:12

“We're looking at everything, and everything is on the table for us. It also entails being very efficient with our capital spend.”

Source:
https://finance.yahoo.com/quote/VZ/earnings/VZ-Q3-2025-earnings_call-364743.html

So CIBC analyst asked around the pace:
"How should we kind of think about the cadence of divestitures over the next several quarters here as you look to divest 15%-20% of the overall revenue? Yeah, that's a great question. We've been grappling with that and talking to Steve about the right way to do it. Clearly, there are multiple business units here that are non-core. I think what you'll see is we'll establish a pace of doing one per quarter because it does take a lot of effort."...." I think you will see us generally be done within the next year. "

So sounds like 4-5 major sell offs of units...trying to read the tea leaves, who are the top 4-5 targets? Guessing anything non "Content" is fair game but could be individual products under Business Network ITOM, Cyber (Ent), Cyber (SMB/Consumer), ADM and Analytics. Who has the best guess here?

ConocoPhillips quarterly report was just published. From the highlights a couple things stand out to me... Very high exposure to US shale in L48 and $5 billion more in planned divestitures for 2026 are on track.

What's getting sold next that can generate $5 billion? Underperforming US assets? Someone else speculated Montney?

ConocoPhillips announces third-quarter 2025 results; increases quarterly ordinary dividend by 8% and announces preliminary 2026 guidance
November 6, 2025
https://www.conocophillips.com/news-media/story/conocophillips-announces-third-quarter-2025-results-increases-quarterly-ordinary-dividend-by-8-and-announces-preliminary-2026-guidance

• Delivered total company and Lower 48 production of 2,399 thousand barrels of oil equivalent per day (MBOED) and 1,528 MBOED, respectively.
• Exceeded $3 billion in dispositions in 2025 and on track to meet $5 billion disposition target by year-end 2026.

Are we really going to keep the woodlands office after divesting the anadarko?

Exit North Sea ASAP…who in the he-l will buy 3 Billion dollars worth of liability that is now producing less than 12,000 bopd…

Return the assets to BP for abandonment. Bankrupt the company in 2026 and keep the good pieces…. Just like Fieldwood did to Apache…

It would seem this is a poorly kept secret that Verizon Connect likely will be sold. Recent activity by leadership looks like they are best positioning the company's cash position and unexpected re-alignment internally. The stars are aligning.

If you have any questions about GP/TSYS feel free to ask here.
Every town hall we’ve had this year they’ve given strict direction to NOT speak to anyone from FIS regarding the Global Payments/TSYS Issuing divestiture.
We also went through a massive McKinsey overhaul all year and what a disaster it has been. RIFs around every corner and most of us have had the same anxiety about “when will it be my turn” all year. The guy who was leading that effort from McKinsey is now the CTO of GP real interesting how that worked out…
We are not hiring stateside anymore, it’s either India which also seems rare these days, or Phillipines.

Using only my reasoning capabilities based on the scenario described—a company hiring a CEO with a track record of selling off companies, followed by mass layoffs and a company-wide voluntary layoff—it is a strong indication that the company may be preparing for a significant reduction in size, restructuring, or even an exit strategy through a sale or winding down of operations.

Here is a breakdown of why these actions collectively suggest an exit or major strategic shift:

## 1. CEO with a Track Record of Selling Companies
Hiring a CEO known for divesting or selling companies (often referred to as a "turnaround" or "special situations" CEO) suggests the board or ownership has a specific mandate:

• Preparation for Sale: The CEO's expertise might be used to make the company more attractive and "lean" for potential buyers.
• Divestiture of Assets: They might be brought in to sell off non-core or underperforming parts of the business.
• Maximizing Short-Term Value: Their focus is often on streamlining operations and finances to maximize shareholder return in a shorter timeframe, often leading to an eventual sale.

## 2. Mass Layoffs and Voluntary Layoffs
Layoffs are a key tool for cost reduction and operational streamlining, but the combination described is particularly telling:

• Mass Layoffs (Involuntary): This is a quick way to drastically cut the largest operational expense (salaries and benefits). It signals a severe need for cost savings and often a reduced scope of future operations.
• Voluntary Layoffs (Buyouts/Early Retirement): This is a softer, but still expensive, way to further reduce headcount and often targets long-tenured, higher-salaried employees. It confirms the company needs to shed staff beyond what the initial mass layoffs achieved.

## Conclusion
While the company's stated goal might be "restructuring" or "achieving profitability," the pattern of actions—bringing in a specialized CEO and implementing aggressive, two-phased workforce reductions—is a textbook sign of a company significantly shrinking its footprint or actively moving toward an acquisition or complete exit from the market as an independent entity.

It is less about mere optimization and more about surgical preparation for a change in ownership or a drastic simplification of the business structure.

Predict and manifest Conoco’s reality for 2026 and beyond!
Will the company continue record production rates?
Will increases in incidents occur due to less people and more responsibilities?
What assets will be divested?
Will CEO buy better tailored suits?

What’s the delay in divestment of the NaKika and Mad Dog assets?
Any update on the layoffs anticipated for November?

Several orgs impacted. Small numbers but shedding in preparation of a big divesture in the making.

With the low oil price environment which doesn’t seems like it will improve soon, any news on the street if there will not be layoffs in Oxy? Any thoughts if the OxyChem sales will lead to headcount reductions in the upstream side of the business?

The new CEO, that's not change. It is the continuation of a plan. If l have seen this and lived it.

Meatball did the job that Blackrock commanded. He hollowed out the company, and outsourced much of it. The only thing not yet completed it the conversion of direct store to the Big 6 indirects. But that is coming.

The Checkmark has lost a lot of ground, and that was intentional. Next will be a massacre of senior managers and higher. Also.maybe a sell off of prepaid.

And then they will sell the cold, dead empty husk of the company to the highest bidders for scrap. We will be the AOL of telecommunications and we will be left to ponder "the good old days" as if we ever had them.

What an odd bunch of businesses….. lots of M&A activity in the feed industry; Cargill is completely absent; not surprising given performance in the past few years.

BioIndustrials continues “coasting”……..

Salt? Well; if we get a good winter is a good year
Any insights on who will be the first to be sold from that “portfolio “???

His plan is revealed...

https://seekingalpha.com/news/4501768-3m-evaluating-selling-billions-of-assets-in-industrials-business---report

https://www.reuters.com/business/energy/chevron-puts-2-billion-colorado-pipeline-assets-sale-sources-say-2025-10-03/

Open Text (NASDAQ:OTEX) announced on Thursday that it has reached a definitive agreement to divest an on-premise solution (eDOCS), a part of its Analytics portfolio, to NetDocuments, for US$163 million in cash.
The business to be divested is part of OpenText's Analytics product group and contributed approximately $30 million in annual revenue in OpenText's fiscal year ended June 30, 2025.

I know someone out there will be able to answer this. If we get rid of OxyChem and use the proceeds to pay down debt how does that affect the stock price and market cap. Right now our market cap is appx 44 billion. If we are losing such a large asset does that affect our actual overall worth? I know if the cost per share goes down the market cap does as well, but since we sold such a large asset would it not bring our true value down. Add in the debt and we should have an enterprise value of around 60 billion after debt is paid down.

LOL:

One user in a thread on thelayoff.com predicted how the company’s assets would be shifted around. His first prediction was that Calgary Quarry Park HQ would be sold to Brookfield.

• https://www.junonews.com/p/imperial-oil-to-cut-20-of-workforce

Something big is going down in Spec Chem. Either a sell off or something disruptive. NDAs are being issued and signed. Rumor is Borger is going to be sold off.

Imperial just spent a ton of money on relocations, moving planners, operations leads, managers, etc to Calgary. They even moved the mine dispatch and control room to Calgary.

It has long been suspected that they have been trying to reduce headcount enough to sell Kearl (only two possible companies).

Do you think they are going to spend money to relocate a big chunk of people twice?

Plus they built QP nit all that long ago but now they are building another building at Strathcona?

I would bet money that once initial headcount reductions are done they are in a position to close on a pending sale of Kearl. Everyone there will be grateful their new employer isn’t moving them to Edmonton. They carry on with the plan and the company is even smaller.

Another domino is falling here. Logically something is missing or this is one of the worst played downsizing events in history.

As much as the decline was evident in the past 10 years I never thought the once great Company would disappear altogether.

"Not on my watch" you know who you are.

Innovex completes sale of 6401 North Eldridge Pkwy facility in Houston, significantly reshaping operating footprint.

"We view this outcome as a powerful combination of financial strength and operational improvement, fully aligned with our strategy of maintaining a lean, flexible cost structure and a conservative balance sheet to capture opportunities across industry cycles.” Adam Anderson

Very connected senior employee halfway around the world told me today Imperial was to be sold. Stopped by here to see total panic so am thinking it must be real.

Occidental Petroleum in talks to sell OxyChem chemical unit for at least $10 billion

Occidental Petroleum has announced that it is in advanced talks to sell its chemical division, OxyChem, for at least $10 billion. The announcement sent Occidental's stock rising over 1% in premarket trading. The potential sale is expected to accelerate the company’s efforts to reduce debt and improve shareholder returns, according to Barclays. An announcement could come in the next few weeks, marking a strategic shift for Occidental as it focuses more on financial strengthening and streamlining operations.

OxyChem is a major global producer of chlor-alkali, PVC and caustic potash, with strong cash flow and links to Occidental’s Direct Air Capture initiatives. Despite its operational value—evident in Barclays’ projected EBITDA growth from $1.24 billion in 2025 to $1.46 billion in 2027—Occidental appears willing to divest the unit to boost balance sheet health. The $10 billion price tag reflects a roughly 7x EBITDA multiple for 2026–2027, higher than the company’s current valuation multiples. Even after taxes, the deal is expected to be slightly accretive, further reinforcing positive investor sentiment.

https://www.hydrocarbonprocessing.com/news/2025/09/occidental-petroleum-in-talks-to-sell-oxychem-chemical-unit-for-at-least-10-billion/?oly_enc_id=7798E9325367A8R

https://www.reuters.com/business/energy/occidental-talks-sell-oxychem-unit-least-10-billion-ft-reports-2025-09-28/

Workforce reductions and acquisition exits come as IT demand softens; TCS also cut staff amid industry-wide caution earlier.

"The business optimization program has two parts. One related to rapid talent rotation that Julie mentioned, which reflects severance associated with headcount reductions that we are making in a compressed timeline, and second, related to the divestiture of two acquisitions that are no longer aligned with our strategic priorities," CFO Angie Park added.

https://www.moneycontrol.com/news/business/information-technology/layoffs-acquisition-pullbacks-slower-growth-accenture-hints-at-grim-picture-for-fy26-13580710.html

Acquisition Pullbacks:

Messaging: "didn't align with our strategic priorities"

"Accenture also announced plans to exit certain non-core businesses and divest assets worth $865 million as part of its ongoing portfolio optimization strategy. The move is aimed at reallocating resources toward higher-growth areas, particularly AI, digital services, and cloud-driven initiatives, enabling the company to streamline operations while strengthening its focus on emerging technologies."

No longer with APA but hear they sent out an employee survey. Won’t be surprised if minions just lie and APA named a top 2025 workplace. Be honest or don’t fill it out at all, but please don’t lie. Also, why does this cr-ppy company need a CEO and a President? Fire the CEO and save $10m easy. Sitting back on the side and watching this company crash, I feel bad for all the employees that have been there for years. Worthless board, hasn’t done it job and now it’s too late and won’t make a difference. Only hope these fools at the top have is to try and sell the company.

Selling off and laying off in Europe and Americas.

Why did Aramco invest in this? At the end of the day its all the same Saudi bank account but not a good look.

Another poorly named internal Xerox project.
The time is near. One last attempt to maintain relevance and it’ll come at the expense of what’s left of the sales team.
Customers will shift to inside sales (remember the Texas facility that just opened) , or be sold off to resellers. IT will be packaged and sold off.
If you’ve been hanging on, your time is almost up. Get out now.

What’s with the rumours of upcoming announcements on either Sept 29 or Oct 1? The amount of layoffs, sell off, rumours is nuts.

Exxon Mobil on Tuesday is selling more of its assets in the North Dakota Williston Basin to oil and gas producer Chord Energy for $550 million, as the major continues to high-grade its unconventional asset portfolio.

https://www.energyintel.com/00000199-53be-d51a-a79d-5bfe58b30000

Looking to summarize the rumors over multiple threads surrounding potential Sept 30 announcements. Note that some rumors are of course contradictory.

• sale/closure of Fife
• sale/closure of Fawley
• sale/closure of Chem plants on European Continent
• upstream layoffs in Germany
• sale of Imperial Oil
• XOM buyout of remaining IOL shares with removal of redundancies
• sale of Kearl
• merger of Upstream Operations with EMPS
• sale of Quarry Park with employees moved downtown Calgary
• sale of Quarry Park with employees moved to Edmonton
• sale of Quarry Park with Employees moved to Edmonton/Sarnia (US/DS)

Paid 15 billion in 2015. Inflation alone should be worth 25 billion now worth under 7 billion. What happened with alterra? All value getting wrecked

When is quarry park to be sold?

curious to know everyone's thoughts on the future of corporate trust