Our team has just been asked to look at how we might combine ourselves with some of the larger central functional teams. When I asked for clarification on why, the answer is that we may restructure the whole headquarters and business unit model. Is anyone else hearing this level of restructuring being discussed. This sounds very large.
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Why all this right now? We were told just last year we were right-sized for $45 oil. I can see some changes due to the 2017 dispositions, but this feels much different. Feels like we're cleaning house ahead of a major takeover. I, for one, would welcome it. I used to be a proud COP employee, now I'm demotivated and would jump ship if I could find an alternative.
Back to the OP, we also got asked to look at the org charts and come up with a way to reduce one of the three overlapping Finance footprints. We have a local finance team, another in our BU, and another in the headquarters. They all do basically the same job, with some really just consolidating what the other groups turn in. I can see where this is going.
Selling major assets should lead to major restructuring. ELT should consolidate L48 and Canada and eliminate redundant functions, positions, people. For starters, ELT will move smilin' COST enterprise-man MH to Houston to run consolidated business unit, and "retire" tired ol' DH and send him back to Canada. Lots of trickle-down changes to follow.
Show some class. No need to insult 2-year olds.
Conoco restructuring and centralizing should be no surprise! We have been hearing for over a year that Conoco was 1) going to sell it's current campus, 2) sell non-core assets in North American, 3) restructure and centralize Lower 48 as one BU in EC3, 4) discontinue Bartlesville operations, 5) restructure and centralize corporate fuctions in EC4.
ELT comparison to 2 year olds is spot on. Scumbags.
The corrupt ELT is like a group of two-year-olds. They only care about themselves and their own stuff. They are smart, but arrogant and self-centered to a dangerous level. They can't think or listen. This will not end well.
Almost seems like there is a hidden agenda. Shed assets and employees. Then a major comes in to buy up what is left...
Do think there will be significant centralization, following asset sales, subsidized by additional workforce reductions. Perhaps empirical, but there seems to be an inverse relation between CAPEX and centralization. During periods of relatively high CAPEX spend a company is likely to become more de-centralized. Conversely, a company is likely to centralize during prolong periods of limited CAPEX spend. The future of the Lwr 48 is essentially confined to a relatively small presence in 3 un-conventional shale plays: Eagle Ford, Bakken & Permian-Delaware. All are non-commercial to date as measured by cumulative cash flow. The Lwr 48 can be centralized in EC3. The 3 BU making up the Lwr 48 will be dissolved and restructured as the Lwr 48 BU allowing for significant downsizing throughout all functions. This is what will be happening.
I can assure you that Houston is not restructuring to move people to Bartlesville. Be prepared to absorb all the Bartlesville functions in Houston.
It sure feels like the elt doesn't really know which way to go and just keep changing tactics. Is there actually an overall plan for what they are doing? We just told the street a whole strategy with what we would do with our proceeds from asset sales. We talked about our growth, and how we offer value. Now another restructuring? This honestly looks more like a reaction to the asset sales becoming real now that they have the sale of canada and sj looming.
Another nail in the coffin of ELT competence. If the ELT had made the obvious cuts during the COST project we would not have been doing this again and again. Would someone please buy us, gut G&A, fire all management, and put this workforce out of its constant misery?
yes, it's the same direction I was given, but not sure what it means.