Everyone knows these cuts will be deep. To folks who have been through this before: who usually gets hit hardest first - expensive departments like geology and engineering, recent hires (last in first out), supervisors with no real responsibilities, retirement age folks who move slower but have been around forever, etc?
12 replies (most recent on top)
Agree to Post ID: @FUCVE1l-4tdf
If Anadarko follows its peers:
Older employees will be laid off and "cash out." Expect to see employees do cartwheels in the hallway on their way out when they see their severance, assuming they are retirement ready.
Geology will be devastated, especially in older assets where most everything is known about the asset.
Drilling and Completions will be hit hard, and younger engineers will be moved into production and reservoir.
Also, land administration could be devastated and Anadarko could demote landmen into their roles.
"Last in First out" - New College Grads who management knows can go back to school? Maybe-if they want to keep experience???
Oh and transfers and pay cuts are always a possibility!!!
Just a few thoughts on possibilties
Every layoff, like every earthquake, is unique. If you are higher paid than your peers (hired on at a good time) you should worry. If you are long time buddies with a serious bigwig, you don't have to worry. If you are an amiable average performer who doesn't make much money, you don't have to worry. My guess is that there are so many very highly compensated old timers near retirement that younger folks don't need to fret much.
For geos, it won't matter which department or project you're a part of. If you're a high performing geo who happens to be in exploration or on a deep dive team then you should be kept over a lower performing geo in development.
the 50+ emplyees for sure, although there is never any age discrimination
Geology will be hit hard - there are dozens under every GM.
80+ middle managers in Denver - have to think nearly half could be gone.
Anyone in exploration, "deep-dive", etc type projects
Geo-steerers
Landmen will do their work plus the land admin work. You realize when people are let go, someone else has to do the work, right? They aren't going to have a lease analyst put together a farm out, but I'm pretty sure a landman can put a lease in the system.
Yes, they'll keep over paid Landmen to do Analyst work.
Probably land admin worse than any. Landmen will be forced to take on some of that work.
There is a rumor, and I stress rumor, that APC will cut about 45% of its US based staff in March. As a consultant in Colorado, I have been very fortunate to stay busy in the patch, but it has always been a "feast or famine" industry. I'm sure contractors will be the first to go, if not already released, then the "last in, first out" crowd, then probably anyone close to retirement.
IT low value? So I suppose electronic communication, security for data storage, availability of networks globally, application and hardware support, support to allow international offices and rigs to not only communicate but collaborate on drilling and production data, etc, etc.....that comment is not only arrogant but small thinking. Think about that everyday you logon and want your system and applications to work. We're not an IT company, but try doing your work without it.
IT Bro - Super expensive, low value add.