I’m really interested in what effects all these layoffs will have.
I’ll manage, but I’m interested in how this company will continue without almost 1,000 of its best people and all of those who will increasingly start leaving on their own after this.
I can already assume that the cuts will turn out to be a move that did not slow down the sinking of this ship at all.
The concept of integrated Asset Teams will be promoted. There will be mid level disputes over which functions control which parts of the budget. The development Teams will hold their power over capital. The highest level managers will buy into the concept that we cannot staff appropriately in Midland. D&I will be invoked. The Development Teams will be located in Houston and their connection with the reality of Operations and the business will become warped and diminished. All decisions of consequence will be made in Houston. All career opportunities of consequence will be located in Houston where individuals get exposure. Eventually, only the Operations staff will be left in Midland which suits them just fine with no one looking over their shoulders and getting into their business. What little competitive advantages we had in the basin will be lost and then we will look for another company to devastate. Ten year cycle.
Based on COP moving people to Midland........look at their history. They moved people to Midland after the BROG acquisition to show good face, then commenced on making most of them so miserable they left, oh but wait - then what was left, you guessed it, closed the office and only move the "valued" few to Houston. Good luck @1wjf+19LB4d38 with your COP endeavor - your future COP experience definitely won't be what you had in mind.
50 employees, not managers
@1wjf+19LB4d38 If what the other poster said about 50 managers headed your way, I feel badly for you. They will come in with the extreme processes and procedures that they have created to make sure they have plenty of work and reports, but they don't really add much value. Unfortunately you will see people more upset about a minor deviation from a workflow process that added value to a project, vs a large capital expenditure that was a complete waste of time and money and adds no value as long as the process was followed. They are kind of like robots, but they get to make decisions...well kind of, they typically just talk about decisions until the project is no longer worth doing.
Get ready for an immediate drop in production.
Yes, about 50 are moving to Midland.
Are heritage COP employees moving to Midland? I’m heritage Concho and I haven’t heard anything other than a few managers.
"It’s like drilling holes in the bottom of a sinking lifeboat"
I believe Moe, Larry, and Curley invented that one...
Same story for the previous 9000 let go. Eventually, everyone will experience the same fate.
Enjoy the West Texas dust!
1000 of its best people were not let go. 1000 people who did not know anyone were let go. lots of losers moving to midland
It’s like drilling holes in the bottom of a sinking lifeboat to let the water out faster. But then, the intention is to package the company for sale, not to survive in the long run.