"We think a 30-per-cent write-down in COP reserves is not unreasonable, based on the lower oil price,”
15 replies (most recent on top)
I saw the writing on the wall well before the layoffs and pleaded with IT management to better prepare the staff for the transition to a new organization, be it ConocoPhillips or elsewhere. Leverage the existing staff. But management continues the revolving door of specialists, both employees and contractors. A specialist in one field can in fact learn to be a specialist in multiple fields. The individual is of greatest value in the current field due to a learning curve.
It's the old frats who are the Jack of all trades.newbies haven't had a chance to get that all around experience. I treasure our IT specialists.
Large corporations thrive with over hiring people who specialize in one thing. Then during tough times they let go of those specialist think of as an individual who only makes shoes and sells them. That is the mentality of a big corporation why not cut staff down and let them expand their talents so that they learn new skills. That makes more sense than hiring a bunch of specialists when instead I can hire someone as a contractor.
Economics 101, division of labor. Generalists served a purpose a few centuries ago. Best case for a generalist is a one man landscaping business. Large corporations do not function with individuals with a generalist mentality.
Specialist are worthless..... Period. You have worked at COP for too long to not understand the difference between making the company money and spending money to come up with an answer a that doesn't exist. Seek out a role in academia because Wall Street does not give a shit about your special technical expertise. You are a dime of dozen! The generalist are the best breed to keep around they make money for the company not the other way around. You fool!
Explore the job postings and discover quickly the jack of all trades is not listed on the job postings. Job postings are for the most part specialists. The companies hire the specialists and quickly demand the jack of all trades. And in the end the companies contract out role to a firm with sense enough to better align the current workforce with the work.
I wouldn't so much about grammar and worry more about being good at different roles. Perhaps by knowing how to get oil out of the ground with less people. I swear there are so many technical specialist who focused there career specializing in one thing only. Now it will be time for them to go because they are worthless and only good enough to be a high school teacher. Be well rounded people otherwise you are pretty much worthless. Some people specialized in ass kissing and even they got shit canned!!!!! It is what it is welcome to the oil patch mofos!!!
Like my grammar!!! Lol!
176788.... Are you an English teacher.... Maybe you are headed that yes that is perhaps your next role. I can already see it English an teacher in high school! As for the credit lines being revaluated at the end of this month is true. Oil isn't going anywhere but down .... Can you say 40!
At Anonymous176739, if you are going to imply to everyone as dumbasses, please learn how to spell "Kool-Aid" and "Lying." It would make you a lot more credible.
Stop drinking the cool aid dumbasses!!!! The revaluation of credit lines take place at the end of this month. Cut the shit and quit lieing to your staff and tell them the truth. Morons!!!
No requirement the banks waits until year end to reevaluate the credit facilities.
Write downs occur at year ends. Companies don't do reserve estimates at quarters.
Best guess the tightening will occur after the 3rd quarter results to limit the public humiliation.
Thank you.