all the business units have just had layoffs in Q1/Q2 this year, now from where will this new layoffs come? we in Canada had 200 people let go (plus approximately 150 people lets based on bad 2014 performance review_.... hard to understand who will be laid off further as all the business units have already trimmed un-required staff.... i guess things will become clear during Ryan's 30 July global townhall
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118970, 119172 got it right - EVERY SINGLE decison maker on the Surmont 2 Project was an American Expat. Guess it's time to cut ties with their own first. Truth hurts…..
Ryan and his band of incompetents will hit the company, but retain their salaries and a$$kissing minions. They illegally cut "experienced" staff based on pay, instead of dealing with the bloated corporate and capital projects staffs. Every member of the Projects TMT should be fired for gross incompetence!
Anonymous 118970,
The cost overrun in Surmont 2 was over $4 billion, mainly because of interference from Houston (the Canadian BU said build a plant between 30,000 and 50,000 barrels per day, Mulva said I want the biggest plant built in a single phase, he got $23 million every year for that decision).
If you look at the oil sands chart, COP has the most expensive plant, in Capital dollars per barrel. Pure incompetence from the top down. Home office costs were said to be $ 1 billion - this mainly involved US expats flying in an out of site.
Canada needs to be the next on the chopping block including the sale of their interest in the oil sands. With a ~$2B cost over-run on Surmont 2 and high production costs vs other plays in the world, our Canadian BU can't sustain the business growth model CP expects with $50/bbl oil. Time to cut our ties with our neighbors to the north...
The on campus recruits are not comfortable with the fact a good number of the "mentors" are involved in the layoffs. Retaining career employees will be more and more difficult.
COP is going to have more problems when the recovery does come. They are going to have far too many "early career" staff and management that have never known anything outside of COP to compete with the independents. Those of us that were the mid and senior staff that are or will be part of the RIF, will end up at those independents and happily outperform and outnegotiate them as they continue to schedule meetings to discuss the meetings that they just had and then schedule the next meeting to decide what to order for lunch.
To those individuals noting age discrimination associated with the layoffs, please file a case with the EEOC. The EEOC is reactive at best. The EEOC is also the only show in town for issues associated with age discrimination. Worst case the COP lawyers are busy responding to EEOC cases.
If you can't pay for all of the "required staff" then they quickly become "unrequired staff". Performance ratings didn't mean a thing in the first wave and will mean even less now. The Billion dollar reduction plan by Mike is kicking off soon.
To clarify, a poor rating is not necessarily an indication of a poor performer. The ratings are subjective at best. The ratings are not vetted by HR or upper management. Easy enough to document "poor performer" but more often than not the supervisors at COP simply note SPIRIT values as the justification for a poor rating. The rank and file strive to be a 3 at COP; no more, no less. Recognition via upper management more often than not results in a lower performance rating by the supervisor.
The plan is to close the close the canada office with excetion of the oil sands. They announced it in their quarterly reporting a while back. It's not a secret, I don't remember the time frame but it will happen sooner than later.
Let me make something perfectly clear. Older, higher pay-grade staff were let go TO SAVE MONEY! They DID NOT have poor performance ratings. That's not to say poor performers were not let go. They were let go for two reasons. One reason is obvious. COP should not retain ANY poor performers. The other reason was to use younger eliminated staff to offset elimination of older, targeted staff which is ILEGAL due to AGE DISCRIMINATION LAWS.
COP ETHICS FLEW OUT THE WINDOW WITH THE LAYOFFS!
They are to gut the Houston office its sounds like.