I've heard 40% also. Definitely an overall headcount target is driving this, based on peer Independents. Some might get hit slightly harder than others, but each group has a staff target number they need to meet.
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I heard 30% as well.
We hearing 70% reduction in operations with 10% reduction in corporate teams. Manager from Houston will be moved to operations as MSO or toolman.
Any word on if there will be appropriate restructuring rather than an across the board cut?
Closer to 40%. Then replace with my weenials
More BS they already announced more than 101 to be laid off in Bartlesville after SJ asset sale. Cut will much deeper than that.
Didn't we try to lease out EC 4 and was unsuccessful? The way the workforce has been declining, may be leasing out EC 3 as well.
With the reduction EOC to recommend HQ employees move into EC3 and lease ou as much of EC4 as possible.
101 in Bartlesville finance and 31 in Houston. They had a meeting yesterday and explained it. No recall, the interns will fill any spots that need filling. This.is just finance, I don't know about COP as a whole.
I heard not 100, but 170, in Bartlesville next week.
ELT has run out of options and stockholders are not happy.
I heard something different. I heard they started serving all day breakfast at McDonald's a couple years back or so.
100+ in Bartlesville finance next week
Will not be more than 100%.
They won't wait till fourth quarter to execute. The stock can't get respect without a strategy and a design.
If the 40 pct is correct, will Permian office in Midland be shut-down and moved to EC 3? With completed, in-progress & pending asset sales, Lwr 48 consolidation is surely to follow. Will severance be offered to those in Midland who do not want to transfer to Houston?
Ranking is underway right now. Better start kissing azz 40% end of July. Look at all the new faces in HOuston this week.
July 27th
I heard 40%
What would the remaining 70 percent do?
30%? I may have heard from somebodt who sat in on a meeting in the Kremlin and Kushner only mentioned 20%.