What happened today?
So many rumors.
What's true, what's false?
48 replies (most recent on top)
Really hard to feel bad when somebody from HR is laid off…
And more lay offs will come…
I don’t feel bad for the VPs being let go, some are loaded $$$, some didn’t deserve to be there; feel bad for Legacy people that got laid off.
Well said @v4+1jgz31r8e
JC and MM are a cancer and SR is an embolism. The rest of the ELT light are do nothing cowards cashing in while the employees will suffer.
I kind of feel bad for the 10 VP's that got the boot but with time they will see they were used and then dumped as a sacrifice in an effort to keep the gravy train running for the ELT and BOD. I hope they are not counting on their shares vesting out!
“JC has a vision yet is unable to deliver a viable strategy to deliver value.”
People who have visions that they can’t execute are called dreamers.
Unfortunately, though, JC’s dreams have turned into real-life nightmares for APA employees and their families.
Why are people fighting over CK when that team isn’t supposed to be making the company profitable? What an id--tic and morale-destroying conversation. She’s a nice lady and her team does some cool stuff. No company lives or dies on volunteer events and name recognition.
Stop bickering like teenage cliques over that when we all know there are a pair of chummy buddies at the top of the company su-king us (and the investors) dry. It’s literally the CEO and his pet hairless bulldog causing this ship to sink.
Agreed BJ is terrible and I was glad to see her go, though.
To @rc+1jgz31r8e,
Agreed the BOD has been 100% complicit in this farce. JC has a vision yet is unable to deliver a viable strategy to deliver value. From teams of teams to astroball to his ridiculous attempts to foster diversity (which just divided been more) he loves to talk a good game but cannot deliver. He also thinks he is some sort of superb leader when his results show the exact opposite. He has surrounded himself with friends and cronies that do his thinking for him and the BOD has allowed it all along. Now he has allowed his boyhood friend to once again destroy the fabric of a once great company without taking any responsibility for the disaster that he caused. This is the last gasped he will be out on his rich a-s while the workers struggle when their jobs evaporate.
Clarification - the crybaby comment was directed at BJ as it was a common occurrence for her unravel in her office like a toddler. The culture on the HR team has evolved into a toxic nightmare under her leadership over the last 5+ years. She refused to collaborate with her peers making the HR staff's jobs more challenging. The CCPA team's culture is NIGHT and DAY compared to the HR team's - hopefully CK can take out some trash to make some positive changes.
I acknowledge that CK does not have an HR background...but neither does the HRBP Director and the Payroll Director doesn't have a college degree....so it is clear that we really do not care about qualifications for Apache HR professionals.
The BOD knows what the problem is.
But they are in on the grift too, with their extremely cushy annual board fee payments and stock holding requirements (admittedly not worth much, but those quarterly dividend payments add up).
The real problem is that the company has no future. It is saddled with too much debt, too many liabilities, and not enough income generating assets.
The previous CEO took his eye off the ball and drifted away from the acquire and exploit model that worked, preferring instead to pretend to be some great deal maker who thought he could make the company into a supermajor.
Then JC came in—even after doubling down on the previous CEO’s drilling decision stupidity in the Permian—and in his haste to “do something,” made numerous bad decisions after another. Claiming that the company’s portfolio was “too complicated,” he sold off asset after asset without any plan on how to replace the loss of income from them. Nor did he listen to any of the (ex) employees about the disaster that AH would be, preferring to fire them and only hear what he wanted to be told by his sycophants. And his “transformational” deal with that French company has been anything but.
And so now the company has no real options. It has no future, except to stumble along until it goes bankrupt or some other company or activist investor puts it out of its misery.
(And to those who think Chevron would do a buyout—why? APA was worth far more to Chevron nearly a decade ago before JC went on his selling spree. Why would they want APA now?)
But make no mistake about it—the BOD has been complicit in the slow demise of the company for the past 15+ years. The whole lot of them have been a failure in every respect but one: their stunning success in keeping JC and his buddies employed.
It is all one big grift.
MM is the most incompetent of the whole batch but when you are the boyhood friend of the CEO you have a golden ticket. The BOD has not and will not do anything to stop this dumpster fire.
When is the BOD going to realize it is JC, SR, and MM making all the boneheaded decisions that have put this company where it is at right now? Out of all the VP’s that should be gone it should be MM. He is one big headed id--t. Blaming all the VP’s let go of the low stock price and Apache being in the lower percentile in his town hall. Dumpster Fire! Burn Baby Burn!
What’s the gist of the email?
Inky, binky, bonkey baby had a donkey..donkey died baby cried
Let’s get a Reddit page up with that “email” please for the love of jesus
Or here causes it annon
TC retired or is retiring. Most likely not his idea. Someone really should post the email.
I was surprised by GC departure, he seemed to know the markets and investors better than his bosses.
What happened to the Landmaster T.C.?
To the generational agitator:
You are apparently too blind to understand that your new methods (AI and the like) are going to fail you miserably and you should be humbling yourself and learning from the experienced staff.
Big ol STFU to the clown trying to make this a generational fight. Go back to Reddit
This just shows the current Status of Apache Sigh! I’d be more worried about JJ than CK. Just saying.
Take a seat, boomers. Your tenure at this company is likely due to narrow skills that have left you stuck, helpless, and incapable of adopting change. As a result, you come to this forum to whine about the organization instead of just leaving.
Or maybe its actually CK posting to defend herself instead of one of her minions. 😂
Facts:
Everyone has a budget and needs to make choices, especially at a failing company. But let's not fool ourselves… The community doesn't want to partner with us! If she were so great at the space and has so many O&G connections, a real deal O&G company would have snagged her up. She would also have the connections to pull this post, after hours, vs sending in her friends in as combat.
The fact remains that Apache employs third stringers in their top jobs. We should all be outraged. The post is accurate, even if hurtful.
The BE team gets to make pretty slides and check boxes to claim done/win but reality is quite the opposite & all the people are left to pick up the destruction they leave in their path. ELT buys what MM sells them on that group not knowing it’s a laughing stock.
This thread suggests that a true HR leader (Apache hasn't had one for ages) who knows the subject matter (not just a "person who could be good with people") has been warranted for a while. But, as the earlier poster aptly stated, Apache doesn't care about human resources.
And the issues at Apache are far more spread than HR!
Good to see some sense being knocked into whoever thought their criticisms of CK were anything but fantasy. She’s been an incredible leader for Apache for nearly twenty years and is beloved by so many people, both inside and outside of the company.
Do yourself a favor and take your childish, misogynistic insults elsewhere.
CK, go back to work! It's clear your feelings are hurt.
I can imagine there are two leaders in HR who are pretty nervous now that their protector is gone.
I don’t think people realize how inept BJ is. She’s an immature lunatic who cries and screams in her office in front of HR staff. I thought MM would keep her forever because she was his puppet!
MM will come out of this with more power despite managers in the company telling their direct reports he is the problem. Just crazy.
Of course MM had to use a consultant. First how is he going to figure out how to organize and oil and gas company it is better if we just pay a consultant, who employs junior staff that don't know the basics about the industry that the company they are attempting to reorg works. and uses all of the latest buzzwords. Second, how is he going to get tickets to PGA tournaments and such if he doesn't receive them from vendors.
MM so inept he needed to hire McKinsey to do it for him. Obviously he thought BJ was not capable either. And SR, AH happened under his nose, like $3 billion spent with negative rate of return. Then in charge of strategy decided to buy Callon, ramp up debt and sell Legacy with steady nice FCF that with a little investment would have paid for Suri.
Please for the love of God someone have the ba--s to post the internal email here.
No one wants Apache. Face it.
9 out of 11 Board members are 62+ years old. We are getting sold within 6 months :( !
We have 2 BoDs from Noble Energy who got bought by Chevron. After the failed Hess deal Chevron is probably in talks to buy us.
MM did what he does best. Get rid of any competition to his supreme SAP snake oil skills.
That “JJ deserves it” is sarcasm, I assume
Bring back SF and his lovely spouse. She ran the company better than what we have now.
Last ditch effort before the BOD gets rid of JC, SR, and MM. You know it is a dumpster fire of a company when you get rid of that many VP’s at once. The BOD should now see where the problem is and it is not the workers.
Some of you losers are pathetic. Why care so much if you don't work here?