Any ideas when the next round of layoffs will hit? I weirdly feel as if the "1,000 jobs cut" was a bit low from the initial projected 1200-1500.. Always trying to mentally prepare for the worst
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Glad to get out now. Next cuts could be by takeover company and they won't be so sentimental with severance. And Anadarko can say "No more Layoffs" (by them anyway), haha, just like they did with Saltcreek asset. Only Houston positions will be protected, just like this time.
Executive's Logic
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Get rid of all onshore gas fields. (Natural Buttes is next?)
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Setup Company's portfolio to show we are heavy in oil.
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????? (Exxon/Chevron takeover??) Massive Layoffs??!!!
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Executive Profit Millions!
Not till something is sold, then blood flows.
Hence, just a meeting. APC has meetings all the time, what wonderful stuff has come from those.
Exxon is in Mozambique meeting with government. Been there for at least 2 weeks.
If ExxonMobil takes over. Not there yet.
Next group, if Exxon takeover, may get better packages, most non-oil-business managers and redundancies will go.
Mozambique has been the albatross around APCs neck on top of other liabilities the company has been subject to it may be the swan song in these low price commodities era of O&G business.
It will be firings insted of layoffs. They can't afford severance forever. People that are still making mistakes will eventually go.
I resent that you think digging the earth, pouring in chemicals burning what we find is not what God wants us to do.
I refuse to give up my power point, pretty log data charts, fancy confrence rooms. I drive several big cars, fly on planes...etc...so I can find oil, more gas and then buy more cars. Drill baby drill. More punch please
Has anyone seen a good review of Macro Econimics i.e, lower Demand, Global Warming, Renewables, Electric cars, carbon Taxes..,etc... I assume in lower price world, things become more efficent, someone is saying what happens if we go route of coal? Can't give it away. WHAT DO WE LOOK LIKE AT 15 TO 20 $, or at 60.....we will see both.
Solar has dropped fast, it's problem is they don't know how to store, if they figure it out it changes everything Are we in a sunset sector? WHAT stratergy if one has 30 years to work or five. It's changing. Look at Auto biz, it's going to change with car sharing, buy a ride not the metal. We are moving to big change and we don't see it.
Even smart labor is disjointed with supply and demand, we will produce more per skilled worker, need less until we need more Robots and a few Tech folks. I am preplexed?
They will keep happening the last month of every quarter so the executives can mention them in the earnings call.
OH yeah and Al said a few months ago in a town hall. " no layoffs at APC". Uh.....never say never If $30 oil stays around layoffs will come again for APC and everyone else in e/p.
The word we received is the number layed off yesterday is right around 1300, not the 1000 that the media released
"Anadarko will reduce 2016 budget by 50% and have layoffs" is from an article in Houston Energy insider from 09 FEB 2016 "It became clear that there was no other option but to implement a new program that would dramatically reduce overall costs in 2016. Part of the cost-reduction portion of this plan is going to be including layoffs throughout 2016."
'Part of the cost-reduction portion of this plan is going to be including layoffs throughout 2016.' - key word is "thoughout" in 2016 means more layoffs expected.
They cut more imbedded contractors than employees. So, actual jobs lost is well over 2,000. The current work force is based on an extended period of $30-$50 oil. The work force will naturally be reduced with the sale of non base assets and the many people nearing retirement age and being offered buyouts as needed. There will not be another big round of layoffs.