Thread regarding ConocoPhillips layoffs

I ended up leaving COP because I couldn't stand the culture anymore and a great opportunity came around that I couldn't pass up. I will say COP's culture is pretty much a MAFIA! It doesn't matter if you are a good performer, all that matters is that you have a director or manager to champion you (cover your ass. Its sad cause I've seen first hand very qualified/ hardworking people get let go while kiss ass not worth anything employees stay.

COP has some pretty bad debt and yes the price of oil is coming up but that is due to the cut in production from the US and Europe. OPEC is still producing away and demand hasn't grown that much around the world. It sucks but the true.

Life is too short to work in a culture like COPs, I would start prioritizing what you want in life. Good pay/benefits, etc... is one thing but overall life is much more important. TIME is the one commodity you can very buy back so don't waste it in a bad place!

I'm the original poster of this thread. And thanks to @HIzynd3-4xih for verifying that COP is in debt trouble.

If layoffs are still a possibility, best review how it would affect you personally. We all know that there were a lot of employees laid off with 30-40 years service. A lot of them were of the opinion that as long as they could work, they would work. But they had no real fear of being laid off if their house was paid for and they were just punching the clock to some arbitrary retirement date. They made out like bandits with the severance package, and (probably) look back at what a blessing it is to be gone.

But if you only have a few years with the company, still have debt and loan payments, maybe have an education that is not in demand right now or are on the other side of the hill age-wise, you best have a contingency plan on how to survive a layoff. I'm 3 of the 4 items mentioned, and it was rough when I got laid off. And it is going to take years to gain back what I lost during that time.

All of this might come across as preachy, but you definitely need to play the "what if" game.

Luck finding a job? Get hungry ...It's funny how fast you can find work

Hey dumbfuck @HIzynd3-4zrb........ COP is 30 billion in debt and yes 74% debt to equity ratio which is very bad. It needs to be at 30%-40% that means we are on the wrong side. You f---ing idiot.

Massively in debt? Debit to equity ratio is something on the order of 0.74. That's about $10 billion in cash after debit is paid. Have you even looked at the quarterly report or do you just enjoy talking out of your ass

Research what the analyst say about COP. It's obvious to see why you were let go, attention to detail is null.

Some who haven't found a job aren't willing to work for peanuts like I am. Something is better than nothing.

However, I have friends there who are still sick to know that good employees were cut while several who constantly falsify their time are kept. Those who falsify time and are non-exempt should be let go without a severance.

With some managers in Houston, they just aren't aware of the slackers in Bville and have to rely on some not-so-ethical directors and supervisors who cover things up for fear they too might be cut.....and probably should be cut.

I pray the truly good employees make it!

Morale is lower than ever in Alaska. They haven't announced more layoffs yet. It is hard to understand how they can continue to run the company with so many employees and contractors while losing money. There is still plenty of room for cuts that won't impact production at all.

Happy that you were eventually able to find work. I'm still at COP, but I know others that were laid off in October and have still had no luck in finding a new job. Attitudes and morale have gotten a bit better than they were in 2015. Everyone still sees the writing on the wall that more layoffs are possible, but we've received no news of anything to this points.

Rumors circulating that more layoffs will take place later this year. And the layoff process is certainly humane at COP. They give an incredibly generous severance and anyone laid off should feel very happy to have that. Other companies in other industries give you nothing and show you the door.