Good or bad.
7 replies (most recent on top)
I agree with the last few posts. I know my job is secure because my boss is a fat, lazy POS who doesn't want to do whatever work I actually do, and when I am underutilized needs someone to push around so that he can at least say he's managing someone. It is win-win.
APC is still run by incompetents. Just look at all the VPs who would not pass as a supervisor at a major.
Now that is what this site should be for.
News, personal experiences and rumors.
Not, a "nice place to vent".
But company is still posting multi billion losses even at 50/bbl. And if drilling goes through the roof, so does supply which means another ride on the roller coaster. At current expense levels, either prices or production would have to be much much higher to turn a profit. The good news is that even if the company laid off every single nonexecutive and every nonline worker, APC would still be losing money so layoffs are not a quick fix. But layoffs are like every other business decision in that they are done to impress Wall St and so boost executive comp. NOTHING else matters.
I don't expect broad layoffs unless crude prices drop again by a lot for a long time. More likely the portfolio gets jiggered, grunts are relocated, and anyone who doesn't want to move gets cut. But don't fool yourself, budgetary pressure is on and if are wiggling your mouse in lieu of real work, you better start cramming for the friend test.
This can't go on forever. But if it goes on long enough you will be working for Exxon. Or APC will mutate into some business that makes money.
No more layoffs. The industry is picking up and drilling is about to go through the roof. No need to worry!
Anadarko buying Noble. Overheard the baboons talking about it. Sounds like it's all but a done deal at this point. Expect announcement early next week.
Your post and question says it all. This site is 80% rumors, and the other 20% is for after the fact news. In all it is a place for people to vent. No one making decisions and still working for a company would post about things before the they happen. If you follow up all the rumors about APC being bought out you would see what I mean. Just a bunch of rumors and venting on this site. It is nice to have a place to vent, but don't believe most of the other stuff.