Will we start seeing people leave soon or will it be after the Canadian asset sale is completed closed? Do we have a couple of months or a couple of weeks? When the next asset sells I guess we start all over again.
6 replies (most recent on top)
With the announcement of San Juan selling today the layoffs will start very soon! I would imagine that you will see people starting to leave Bartlesville offices in about two months and a continuous exodus until this time next year when it is closed.
Canada didn't get their notices yesterday. Anyone without an offer to go to Cenovus is in the dark right now. Either they have a job with COP going forward or they will get a package. Even if they have a job it might only be for a transition period.
This is horrible! Why can't they just get it over with? Why let us know so far in advance and then just let us sit and worry about it? Canada got their notices yesterday!
So let's look at it this way if Cernovus requires four months transition and there are additional assets being disposed of, most likely nothing will happen in Bartlesville until September or October. Expect some sort of announcement in February or March next year about corporate restructuring/reorganization that will impact Bartlesville. All part of ConocoPhillips transformation to a competitive independent exploration and production company in a new energy environment.
We can't tell you. It maximizes the demoralizing effect if we just let you wonder. But we can tell you there will be another and another round of layoffs!
I believe Cenovus requires a 4 month transition period