Thread regarding BP PLC layoffs

The stated basis of an office move was a cost cutting measure. Not sure comparison of the actions during an acquisition at a time when remote work and video calls weren’t even a consideration, makes it a more likely scenario. This is not the 90’s…

Also, not sure if that high turnover statement is accurate. Maybe proximity bias? Have worked other majors and private companies, BPX turnover seems normal for current environment.

Seems to be a lot of dated ideologies in this thread. Understanding that this forum is full of disgruntled employees, the fact remains that bpx has exceeded production targets, cleaned up a hefty deal of the mess we acquired (albeit still not perfect), and pursued the ambition set forth for us by BL. Nothing about moving the office back to Houston equals immediate cost savings, if you actually pencil the math and assess the cost to benefit. It’s quite literally, more expensive.

Having a long existing lease matters little in these decisions. Amoco had renewed a long term lease not too long before BP bought them (merger cough cough) and proceeded to close the Denver office soon after. At least then it made sense to have a Denver office based upon the assets at the time.

KK has no say at the end of the day. The CEO is a CFO who looks at cost cutting different.

Besides, I've seen our leaders look us straight in the face and lie. What makes you think your frat daddy pal KK won't lie just like the rest?

All the good people saw the writing on the wall and left this place. Especially, when he got moved into DL's old job. This place has a very high turnover rate because people are fed up.

When we get moved back to Houston all these entitled little brats will probably go into other industries and stay in Denver.

They'll just hire up al the Houston job seekers and save money.

Common sense.

The first Denver lease is from 2017 and they moved in 9/2018. A 10 year lease would be up 2027. Not an impossible assumption, but they just moved into a second building this month with another (at min for commercial) 10y lease with a multi million dollar build out.

Also KK just confirmed this rumor is bs so …

The Denver lease is up soon. Very timely.

You’re all wrong bpX will be sold off when bp gets gobbled up in a merger

Relocating 500 people from Denver, breaking a commercial lease of that size, abandoning ongoing construction, & lost cost of retention would cost millions. It’s still a cost to provide offices of that size. The “real estate” cost argument is invalid, as it is a net negative. Counterintuitive of cost savings.

The benefit of moving bpX HQ to Houston is saving costs on real estate. bp does not care if being in Denver makes employees feel good. Employees’ feelings is clearly not part of the company’s strategy, but cutting costs is.

That doesn’t equate to a benefit? The Houston office still flies to Permian and sometimes to LA & 2.5-3 hour drive to South tx. The LA team already sits in HOU. Pretty hefty travel no matter where you start from? The benefit of staying, is the benefit of choice for employees on where they start. Majority of hq employees seem to prefer the benefits of being in Denver and the cost to travel to field is negligible, so genuinely not understanding the benefit of spending millions upon millions to change that for negligible gains.

What’s the benefit? Maybe literally every one of bpx’s assets being TX or LA? There is no reason to be in Denver

What is the benefit to the business of them returning to Houston & why is everyone obsessed with it?

When in 2025 will this be announced?

Is this MA? Or maybe KD? Are you trying to get people to leave so you don’t have to pay severance?