"Optimization for Sustainable Transformation". What a sad pathetic joke. So they study for 12 months, then they cut, then cut 12 months later in 2016, and now they're cutting again this year. Does this seem like a "sustainable transformation" to anyone? Who is accountable for this incompetence?
8 replies (most recent on top)
What are the chances this effort actually makes some significant changes and cleans house above the worker bee level?
It sure took gall to ask the shareholders for a raise.
@NsSyup6-txn, the ELT has not recognized the issue, they do know that the stockholders have hit the square on the nose with vote on compensation!
Time to fire the ELT with cause! Let the terminations start immediately!
When ELT was finally forced to confront the facts:
Quarterly dividend was cut from $0.75 to $0.25 (67 percent reduction)
CAPEX was cut from $15B to $5B (67 percent reduction)
Workforce in 2012 was 16,900. May be cut to 5,600 (67 percent reduction). Currently at 13,000. May be looking at 55-60 percent upcoming reduction. The big hammer is going to fall. It has got to fall. 2015 & 2016 layoffs were just love-taps. ELT is finally forced to confront the facts.
Get ready. The big hammer is about to come down. Last layoffs in 2015 CAPEX was cut from $15 B to $5B. Would think a 50-60 percent in workforce is coming ( going from 13,000 to 6,000. We all know that we are over- staffed for the activity. A lot of meetings, reports and make-work assignments. Be honest, is anyone actually productive more than 4-5 hours a day?everyday? Anyday? I do think the ELT has finally seen the light.
ConocoPhillips: It's not just what we do, it's how we do it (Lay people off).
Staff that were cut were apparently held accountable. The COST program signalled the beginning of the end for ConocoPhillips. It has been an embarrassing downward spiral ever since. A place I was once proud to say was my employer, I'll jump ship the moment anything comes up. In the meantime, it's all smiles and sunshine, just do my job. Trust is gone, loyalty is gone, the desire to 'go the extra mile' long ago evaporated.
ConocoPhillips: It's not just what we do, it's how we do it.