I heard people talking about late May or early June. Do you think that we might be having another round of layoffs this soon?
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It won't be until later in the year is what we were told, most likely start of Q4.
No set start and stop for the layoffs. The layoffs will continue. The severance packages for senior staff are in the hundreds of thousands of dollars. ConocoPhillips must have the cash in the bank prior to the layoffs. Eliminating 2500-5000 employees is a 1 billion dollar expense. ConocoPhillips operated at a loss at the time of the split with $100 a barrel oil and financed operations via asset sales. Oil is $50 per barrel.
I'd say it's very unlikely.