Do we think RL will announce the timeline for layoffs at the VCIP town hall? I know that some of the ELT is doing "Company Strategy Updates" early next week after the town hall, so I'm assuming they will go into greater detail about the layoffs then.
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Lot of noise with department heads. The cuts are coming. Debt has to be paid and the stock is in a turndown. Investors aren’t happy. The big 4 are gathering tax. Do we face the chance to be swallowed. Water cooler talks say cuts are being discussed. Personnel cuts have to be made shortly.
A 40% reduction in staffing is warranted. CHV and XOM are not COP peers. They are vastly superior and are integrated across up down and mid stream components. We are a mediocre resource play producer without vision.
Interesting stats regarding oil company layoffs. Exxon did a significant staff reduction after the acquisition of Pioneer Energy. Despite staff reductions, productivity actually improved. Remaining staff worked harder and smarter.
VOL Sep’s will be phase one. The smart ones will sign up. Work-Life balance is never the same after restructuring. More consolidation will come. Larger fish are out there.
Cuts are coming. Chevron has set the stage. Smaller staff, higher efficiency.
Chevron announced up to 20% reduction in workforce by end of year today. As goes our 'peers', COP will follow suite as we benchmark against.
Q3 works for me.
He’ll ramble about balance sheets and how we’re well positioned and all the usual platitudes. Then make some oblique reference to constant improvement and how we need to be ready for the future. That will be all. Just like all the previous times.
Same script.
Same sh-t.
Don't be a re--rd.
What groups are going to be targeted?
He’ll say it without saying it. Something along the lines that the benchmarking work done to date shows COP has a lot of work to do, with expectations that the work (sacking) is targeted to be completed in late Q3.