Ryan Lance told employees this morning during his annual VCIP town hall that reduction of ConocoPhillips' direct workforce by 10% will begin soon and will be finished by April. He said that there would be no early retirement packages offered and that he "trusts his managers to know who the good performers are". He said that the cuts would be fair and transparent and that the severance package that is on the books would apply.
6 replies (most recent on top)
I don't think COP would require a WARN Notice. Below is the law on it.
What does WARN require?
WARN requires that employers with 100 or more full-time workers give employees 60 days notice in advance of plant closings and mass layoffs if they:
Close a facility of 50 or more workers
Discontinue an operating unit of 50 or more workers
Lay off 50 to 499 workers, and these layoffs constitute 33% of the total work force at a single employment site
Lay off 500 or more workers at a single employment site
69782: The WARN Law is the "Worker Adjustment and Retraining Notification Act", which basically requires employers that do massive lay-offs (50 or more employees, at a single location, in any 30-day period) to provide written notice to "affected employees" at least 60-days prior to the lay-off occurring. The must also provide notice to the state and local government officials in the affected area.
I don't know what a WARN law reference is. But COP informed us around January 29, 2015 re RIF. Check Fuel Fix. March 2nd I assume is in reference to when VCIP is in our accounts. Demoralizing and grim.
I'm not sure if COP needs to comply with the Department of Labor WARN law. If it is required to comply with this law, then written notifications must be provided 60-days prior to the terminations actually taking place. Subtracting 60-days off of the "end of April" you get the first few days in March. This supports 69352's March 2nd date.
As such, I expect a lot of closed door meetings to take place this upcoming week (the last week of February). My group has already had such meetings to discuss and rank our agency "short term" workforce. I suspect these meetings will be going on this upcoming week for the direct hire personnel (or they have already happened).
Yes it is. That means it will begin March 2nd. Management does not like upheaval. Although the posting says "by April," what that means is it will be done within the first couple of weeks of March so as not to distress the remaining employees. Sad.
Wow, that's massive