Thread regarding ConocoPhillips layoffs

Layoffs do start at the top. The top decides who will be laid off.

Um, can you tell me who these great people are?

And what value exploration provides right now when we lose money producing?

No doubt we have some talent, but why add to our debt right now?

Start at Bartlesville! Offer the few good employees jobs in Houston and tell the rest they should be ashamed! They have been sliding and giving the rest of us hard time for a long time!

There are more employees in offices than boots on the ground. A zillion emails that most just delete, useless emails from people trying to show they are worth something. Vacation days being traded to work for others vacations since they have no coverage.

OP states it correctly. The biggest problem is they care more about how they are perceived -their selves- than with creating value for the company. It's the exact same problem in government: politicians care more about the next election cycle than with making the best decisions for the people. Power begets corruption.

1000 BOPD/employee because the rest of you don't count only Bartlesville. After restructuring ELT is moving to Bartlesville and everyone will be answering to us!

Barrels not banks/person lol

So if it's 123 banks/person, that's $2.24 million per person per year with $50 oil. If you pay an average of 1/2 million per year for each (salary and benefits), Throw in a whole lot of bad decisions and poor well performance and it's explained pretty easily why you guys can't compete. You can burn through money and still make it at 400/bbl/person head count.

Now now -1mru. Last earnings report stated that during 2nd quarter 2017, average daily production was 1.425 MMBOEPD. Employees as of June 30 were 12,200 which would suggest 117 BOEPD per employee. The report also stated production for 3rd quarter is forecasted to be 1.17 MMBOEPD to 1.21 MMBOEPD. At 117 BOEPD per employee, the 3rd quarter production of 1.2MMBOPD would suggest a workforce reduction to 10,250 employees.

At 150 BOEPD per employee, the 3rd quarter estimated production of 1.2MMBOEPD would suggest a workforce of 8,000 employees. This is where we are heading.

On the bottom of press releases, the facts are reported. In the last earnings report, COP stated 1.5 million BOEPD and 12,200 employees. So at end of 2Q, the performance metric was 123 BOEPD per person.

Last poster is an idiot! COP averages almost 1000 BOPD per emeployee!

Ahh Grasshopper, if we had real management, there would have been a maximum of two staff reductions during thing time of low oil prices! In addition COP would have been run like an Independent Oil Company and would be at the 400bbls/day per employee. So yes, the ELT are clueless and have no gonads to make the hard decisions! The whole ELT needs to be released with cause!

Why is everyone so worried and distracted by the ELT? They are not the boots which carry out the projects. They are not the ones who after a thousand wells drilled are still carrying out research projects because they don't understand what they are doing. They are not the one who refuse to stop living like we are an IOC and complaining how much better life was "back then".

Get a life, do your job and maybe we the employees can turn the company around. Why are you sitting on the toilet waiting for the ELT to wipe the your butt?

Keep in mind that We as a company are 1 person per 100 boed produced, whereas other E&Ps are 1 person per 400 boed.

We just have the wrong accent so we can't understand how great the leaders in 'Big' E are or their great accomplishments. 😶Oh yeah, there are no great accomplishments, who are we kidding.

We have industry leading explorationists? So good that we totally can skip bringing our exploration targets into development. Successful exploration 40 years ago doesn't count.

There is leadership in exploration? You could have fooled me. It is either 2-3 year experience millenial know it alls or old guys waiting for their pension to kick in. And you wonder why they are a failure, Angola, Poland, GOM, Offshore Canada, L48 unconventionals that we didnt get from BR, Jasmine, Templewood, Peru, Kazahstan, Colombia, Chile and the list of wasted money goes on.