How many employees does COP have - 10,300.
How many employees does EOG have - 2,800.
Now you see why we are having layoffs. I don’t even think that 10,800 is counting all the Concho employees we recently acquired.
When will we stop having layoffs? Obviously not for a long time at the rate we are going.
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Anyone heard of Price's Law? It's not quite the 80/20 rule (Pareto principle)...
Price's Square Root Law suggests that 50% of the output from a group is generated by the square root of the total number of members.
So if COP has 10,800 employee then 50% of the productive output comes from 104 individuals. In your smaller team of (for example) 25 people, 5 will generate 50% of the output.
Competence is linear, incompetence is exponential.
You have that out of context!
Old rule, 20% of our wells produce 80% of our production! 👍😁
20% do 80% of the work. It’s been that way a long time.
Hire and fire. Hire and fire. We’ll never be done with layoffs.
For each worker a minimum of 5 direct and indirect managers must be obtained. 4 to claim the work and one manager to assign the work. The assignment manager will serve as a bufffer should cop Mgmt look at firing supervisors or managers. But it is more likely that we re-shuffle the entire organization and put people in roles they are not capable of. Then do anything as drastic as flatten the structure. It is my estimation that we literally set the whole organization on fire and scrambled everything around just for a D&I PowerPoint slide. The good news is we have external postings, so we should be ready for the next layoff.
If we keep selling off assets and not exploring like the big players, we need even fewer. Welcome to the new world of annual headcount reductions.