For the last few years, the Alaska office has been immune to
layoffs and budget cuts the rest of us have suffered. No good reason
for this. What this company just spent in the anti-tax campaign up there
could have easily paid the salary for hundreds of qualified employees for
several years...
9 replies (most recent on top)
The corporate culture breeds lots of ignorance and hate towards whatever 'other' in the company you aren't a part of. Everyone thinks that THEY are the best, so when other groups earn better VCIP numbers you start to have (mostly blind) animosity towards them. The same is true for the BUs, for example within L48 when Eagle Ford gets more budget, the other groups start to feel lesser than when it's the actual assets, not the people mostly driving those decisions And then there's the animosity that the rating system causes. Once the hi-pots become established, it isn't hard for everyone to figure out who they are, and it is even harder for others to replace them as high performers. The corporate culture creates a system of winners and losers and all the posts here are evidence of what the result is.
Hilarious to see all the people who take their summer boondoggle trips up to Alaska office as an excuse to tour and fish in Alaska on the company's dime trying to defend its existence,
There is so much fat in the Alaska office, when compared to operators like Hilcorp.
Get the moving trucks ready Anchorage office.
This post show show much ignorance and hate exist. AKBU represents the largest oil reserve for COPC. It is the place where we are a real industry leader and we are able to run operations in such remote location that is nothing but admirable.
The money spent on the tax campaign represented an investment, with that Tax reform we would not be able to operate in some assets, assets that no one would have invested under the proposed tax changes.
I invite you to admire and respect more the people that runs what is probably the best BU in our company.
FYI, I don’t work there.
L48 will get hit pretty bad this time. Too many redundancy, and layers. Be ready!
Have you read the annual reports? Alaska brings 20-25% of revenue for the entire company, with exception of 2020 obviously. They are doing it with less than a thousand people in the BU including contractors. The Malloy Measure 1 spend was $6.5mm looking up for yourself. They reduced spending significantly by no renewing ANO building lease this year. Layoffs are minimal and will be mostly EOI’s and the target cost savings was 5-10%, so that covers EOI’s and building leases. L48 has how many people? They need the biggest reduction!
Alaska generates a lot of cash for the company, which is needed in North America to balance out our large unconventional position. capital spend here can’t just be reduced without large impacts to major capital projects that are needed to offset the decline rates of the unconventional portfolio. Pausing large projects lead to years of delays in production so not as easy as laying down some rigs. The company is continuing to invest upwards of 60% of capital in L48 to maintain production in 2021 so that’s not too shabby. Alaska took a large reduction last year for the LRP to level load the portfolio to maintain investment in other parts of the company. Can Alaska be leaner? Yes of course, but show me somewhere in COP that is truly run like a lean and independent organization.... plus do you know how much COP spent on the No on Ballot Measure 1 campaign? $10-20MM? Enough for maybe 20-40 petro-techs including their benefits? Was that worth it to the company? I would say so.
I see it from a different perspective. I've been in the AKBU for awhile now. We've had our fair share of layoffs since the spin off and through the recent downturns. Sadly though, with each downturn we fire good people and replace them arrogant managers and Hi-Pots so our headcount remains relatively flat. Most of the people we've brought in have excellent presenting skills, foreign accents, impeccable a– kissing abilities, very little actual experience, hate living in Alaska, and transfer out within 3-5 years with zero accountability. Very few of these imports actually contribute to the organization or work projects that add oil to the pipeline. Recently we've brought so many imports in that our experienced Alaska based folks have either been forced out or have decided to EOI. What is happening to the AKBU is sad to watch. So much waste due to poor upper management decisions.
I think the person's point is clear.
Corporate Socialism doesn't care about people.
And ConPhil is a mid-level player in it.
If it needs clarification.
And your point?