I am thinking about Voluntary layoff but one can't wait it happens.. Will they agree to leave early if one can ?
It is kind of double edge sword. They will know who wants to leave and one does not get it how can one continue to work ?
Conoco has great benefits but keeping paying dividends in this environment really beyond logic. Good luck for everyone ..
I don't understand about the voluntary layoff comment and question. The company came out with a program to sign up and volunteer for severance last week, and it closes this Friday, Sept 11. I suspect it will be oversubscribed. The company still has to retain talent, but with such an about turn on strategy, a lot of employees are going to cash out and find someplace else to work. Jobs for talented RE and geoscience staff are still out there. Those disciplines are most likely to be jumping ship, cashing out on early retirement - heritage Conoco programs allow for early retirement at 50 yrs old - taking the lump sum, and going to work for a competitior. Others like myself are volunteering for severance because we are within a year or two of planned retirement, and being paid 60 weeks salary to leave is looking really good. Make room for the younger ones to stay on. Don't know who is going to mentor them.
if you compare COP share prices with that its peers they have all dropped more or less the same except for XOM which does a little better. They are all trying everything they can not to cut dividends because they know the moment the cut or suspend dividends investors would dump the stocks. It is also true that management generally holds lots of shares and they would try to protect that somehow
that argument make little sense.. stock price is reflection of good mgt decisions.. if that money could have been saved for a rainy day with good cash position it helps in cyclic industry. .. no wonder buffet dumped the shares..
@Anonymous 14827, the share price has dropped almost 50% even with increase dividend payout.
if COP cut dividend its share prices will drop 50%, now do you want that to happen if you own COP stocks. Shareholders own the company, not employees