As a former COP employee (among the last to get an EOI in 2018) I wouldnt take any steep mortgages anytime soon. Cop will need to resize based on current price level which means the inevitable layoff. The days of getting paid to leave may be over after looking at what other companies are doing. On another note, you folks in engineering in Houston, be careful, the a*^ your kicking today may be the a&^ you will be kissing tomorrow. Be careful how you treat people, you may need a reference some day. MG, SH, OV ( engineering) are among the worst people I have ever worked with in my 43 years in the oil industry, liars and crooks and overall lousy individuals, it's a wonder that you still have jobs or friends even. COP used to be a good company to work for before the Houston Mafia got ahold of it. Axe the projects group plus those the aforementioned losers, save the company! Easy
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COP has never gotten rid of the “belt and suspenders” approach to everything they do. You can’t dumb it down to the point where you take all decisions and have them on a decision tree. They have “planning to plan” meeting like the Office Space movie and entirely too many Bill Lumbergs over there and layers upon layers of management like that movie....heck if Initeck was an oil company, it would be COP. More worried about the stupid TPS reports being right than actual work getting done. And having teams of people to make sure this useless paper is in the exact right place is extremely costly and why they struggle. If things pan out like usual for them, then oil prices will crash and natural gas prices will skyrocket since they are focusing on oil.
It’s a shell of what we were.
ConocoPhillips is still a great company to work for but has has many more employees than any other pure exploration and production company of comparable size. Much needed headcount reduction is required and centralization or all corporate functions to facilitate the reduction. The question is why does Conoco still have so many employees after spinning off downstream and midstream?
COP Canada is still a great company to work for.