Thread regarding ConocoPhillips layoffs

Whoever posted the original comment is a mid-management dumb--s and exactly the reason this company is so screwed up who selectively looked at right time frame to tell the story they want. Typical. It is like doing your own post audit. Dude you should be next ceo

1ctb, will give you a some of metrics that show limited big picture and long term plans that the ELT failed on! Why have 3 going on 4 major layoffs? Right size the first time! If COP had cut too deep, hire the quality individuals back! Paying $400 million for a deep water rig that was not needed! Not counting the consulting personnel that were overseeing the construction of the rig! Want more, have plent of short sight oversight by the ELT! Even some decisions which may be borderline fraud based on laws enacted after the Enron fiasco!

2xxx Remind us how much money COP is losing monthly!

Management (ELT) are perceived as being lost on what to do and called in consultants to tell them that COP is over staffed! ELT want the consultants to be the bad guys for saying that they need to reduce staff by 35 - 50%. If the ELT would done their job properly there should not have been a third or fourth layoff. Should have right size the company the first time!

@uok "COP cannot compete as an independent" based on what data, metric ?

COP could not compete as a major before the breakup. This is why it was broken up into COP + P66. Unfortunately, COP can not compete as an independent. The sad thing though is that if it was not broken up in 2012, it would be in a position of strength right now. With the billions in profit from refining, it could have purchased great positions in the Permian in 2015 and 2016.

It's the middle pecker lol !

That's a very encouraging perspective, thanks for sharing. Is that like being a lesser "middle of the pack" saint, o

more like bad, but not as bad as Stalin or Mao, just an average evil leader.

@wyb after recent asset disposition to maintain same BOE per employee 30% staff need to be reduced. I would bet 40% reduction in staff is needed after all assets on list are disposed just to be more conservative.

A lot of people complain and whine that cop is bad and management is bad. I just don't think so none of the matrices clearly show that it's worst or best. I think we are in middle of the pack.

I'm sure BCG will conclude that because of how much we are outperforming our peers leadership should give raises to all employees, promote nearly everyone, and also hire new staff to keep up with the workload. We won't need layoffs if we're as good as the original post indicates.

@vbq based on what metric ?

I believe in this company "COP" so much, I just sold the last of my stock - 34 shares and paid ML $75.00 to sell it and close out my account! It is NOT a well run company and it is over staffed! The ELT & BOD are clueless as how to run an independent oil company! They all need to released for other opportunities without a severance package for cause!

Hahaha this is too good !

@wcx I guess it's okay to shake hands with long time enemy but cruel to mishandle emails. It's also okay to ban people of certain faith but not specific countries with ties to terroism due to business interest. It's also okay to be in bed with insurance companies and top 1% but not okay to help poor and sick people (so much for love thy neighbor). Double standard much?

@rcf hint 1. They are all energy companies 2. We split from PSX so comparing the two halfs 3. We still consider all these as peer group the last time I checked.

LOL - Why didn't you include Kodak, Sears and Washington Mutual in your comparison? You are not very good at picking companies that match our profile. PSX? XOM?

Please try again when you learn what COP does.

It's the future that matters. Your numbers means nothing to the commodity market.

@uli did you see the numbers? That's what this analysis tell that COP is well operated as compared to other independents.

Great analysis dude! I loved the sarcasm as well, the voters for the president don't believe/understand numbers😝.

Fake news. I still vote for RL. Where is the source of information and is it authentic?

COP is still one of the best companies to work with. I am so happy to be an employee in this great company. It has one of the best benefits and training programs for fresh graduates in comparison to other majors.

The integrateds are tricky, you have to be sure to remove employees associated with downstream and midstream.