Thread regarding ConocoPhillips layoffs

The op proves over and over again that it’s not just the younger folks that are entitled whiners. You’re attitude is horrible. Your job performance likely reflected that. Wow. You blessed us with your aged, clock-watching self for 30 years. Such a great employee! Good riddance.

I fall in this group. Between 50 and 55, 25+ years of service and forced out. Depending on your heritage company the age 55 only comes into play for qualifying for retire medical and access to your retirement acccount. I was heritage Phillips and our retirement plan has a special provision for employees who are laid off between age 50 and 55 - so I hit a home run. Severance, kept all RSU’s, paid vacation, VCIP and I found a new job with a 25% base pay increase. Plus I can get all my eligible retirement at age 55. Don’t panic folks - COP is an average company at best and there are numerous companies out there who are better. Plus, unless COP adds some assets to the portfolio, there is limited opportunity grow professionally. The same jobs exist in all the BU’s. Boring.

While that last post was way too long, it was correct. The only one looking out for you is you. And, to the last poster, a post should be like a woman’s skirt. Short enough to be interesting but long enough to cover the subject.

What the OP said resonates with me too. I was in a very similar situation when my time came up in one of the various rounds we've had. I don't hold a grudge or have bitterness. It's just what companies do these days. So please be ready.

Were they focusing on the 45-54 year old age group? You bet they were. We all knew it. If you are in or near that age group and you haven't been selected yet, count yourself lucky. But be ready because you are next.

Sadly there is no loyalty from either side these days. That's long gone. Millennials may not even have a concept of that. And as the OP recently discovered after devoting a career dedicated of service to COP, you'll be making a huge mistake if you ever get comfortable and believe the dedication and loyalty is mutual. Try finding a new job in the industry when you are 50+ and you'll find ageism at it's very finest. You will discover that the severance package that a previous poster 'would die for' likely won't be enough to bridge the gap.

Plain and simple, it pays to shop every now and then. When you do, you'll discover that the long term incentives COP variably shares with it's employees isn't competitive at all, unless of course, you're a senior level executive. Not hard to find better pay and bonuses out there either.

For those of you probably hired directly out college by COP, have 10 or 15 years of experience, have always had great ratings, maybe identified as a 'high-pot', and by now maybe you've have made it into a lower tier of "management", trust that no matter whatever you've been told, you are not safe. Please start preparing and take responsibility for your career and retirement. We have been were where you are now.

Nothing more than pathetic on the part of COP, the trolls on this board and Human Resources (the endorcera) that feed the egos of senior management and themselves. I wish you the best and remember Texas is both a right to work state and a right to not work state. You get the latter after 30+years of service and no healthcare.

For the clones, enjoy whatever kool-aid you are drinking.

ConocoPhillips didn't always pay that well. I left many years ago and got a 50% pay bump by an independent when COP was still an integrated oil. I would imagine during the many booms he has been through that he was contacted by recruiters many times but hung around because they really emphasized that retirement package. And he has probably seen many people who had a few years more than him get that package and "ride off into the sunset" so to speak. I know several people who have gotten it and they let them hang around for it the last few months....I mean what else you going to do with them? You can't give them a 6 month project if they have indicated they will be retiring soon. I would use them to train the next guys for the next few months so they can pass on what they know and add value that way. So I understand his being pretty upset. Anyone of us would be also. But like other's have said, go on a nice vacation on COP and have a few drinks on them. Then take all of that 25 years and consult and you will do great. You have a tremendous amount of experience and a lot of inexperienced people could really benefit from the things you have seen and done. My hat's off to you for having made it almost 25 over there.

There seems to be some responses suggesting this guy was loyal because he did not leave for another company. Let's be honest for a moment shall we? ConocoPhillips pays pretty well, and unlike most places still has a pension plan. Most people choose not to leave, because the compensation is pretty good.

And let's continue to be honest - most people take care of themselves #1. If people get offered jobs elsewhere for more $, they will do it.

The same reason every HR survey always has "we want more money" as the #1 issue.

So I don't believe this person stayed out of loyalty - I believe he stayed because it was the best paying job on offer for his time as an employee.

Dear unhappy laid-off person,

(who got a great severance package that most would die for)

Your use of the phrase "implicit contract here " says it all - your belief that somehow ConocoPhillips is a social services organization and owes you "just because" is a fitting way to describe your complaint.

You still have not articulated what you actually did not get by leaving at 54 - except your pitiful paid year of vacation. Boo hoo.

The company is a business - and needs to be run that way. If they had to choose between releasing someone who already said they are leaving, and someone who is adding value, it would be a crime to the owners of the company (shareholders) to choose you.

I know so many others in our industry who were let go during the last downturn with only 2 or 4 weeks or severance - even if they had been working for 20+ years!

It hurts to be let go - I get that - I would be going through my bitterness phase too - but take a step back and realize that you got a great package and most likely are setup for the rest of your life with perks most others don't have.

Do you remember mutombo? This was a perfect way to block everyone’s stupid comments

If everyone got together I see the makings of a class action on age discrimination and country of origin discrimination (namely American-born and older than 40).

guy says “It is hard to imagine that this was done to you without reason.” Obviously, this is the first downturn guy has been through. What do you not understand? Folks who stuck with the company for 15, 20, 30 years have survived countless layoffs. If they added no value, they’d have been cut much sooner. The OP chose, over the years, not to jump at every opportunity to make an extra buck with the company down the street. OP stayed loyal to the company, but in the end the loyalty and service were scoffed at. Their was a deliberate effort to keep children straight out of college -who have no loyalty or skin in the game- and treat the devotes (as evidenced by years of service) like trash.

Now please reply how OP is just entitled and how all companies have layoffs etc, etc.

Ex Employee 8 Days - first thank you for your long service to the company. You said you were hired out of college and then laid off a couple of months before age 55. So perhaps you have as much as 33 years of service. It sounds like you were a good employee.

I am not sure what the significance of age 55 is for you, please elaborate. You must have been in the heritage defined compensation plan for the 30/55 rule to apply. Yes, you could have "retired" at age 55, but unless things have changed in the 3 years since I was laid off, I don't believe regular folks were being given that option.

I was 56 with 35 years service and the oldest employee in the group when they got me. I received a performance bonus and excellent work rating in December before being let go in April. It was a bit of a shock, but I figured it out about a month before when I wasn't getting invited to meetings or to make presentations about my projects on the 4th floor. I wasn't given the chance to "retire" either. Would have, if it had been offered.

Other than being eligible for retiree medical, which you will be in a few months, you should still be fully vested in retirement and can take the lump sum or annuity any time you need it. It actually worked out quite nicely for me, I timed my lump sum to maximize the value and invested it so that between the pension and 401K (now in an IRA) I have completely replaced my COP salary and bonus and then some.

It is hard to imagine that this was done to you without reason. I understand your bitterness but at same time think that you are lucky to receive severance compensation. Someone had to have made a case not to bridge you to retirement that was agreed to. Most likely there was a debate on firing you with decision to sever you instead to avoid legal implications. You may challenge this but beware you may not be happy with result.

My friend, I for one totally support what you are saying. I wish there was something that could be done to fix this. It IS a disgrace. If it makes you feel any better, it is just id--t junior managers still in diapers trolling here now. There might also be a few egotistical senior managers who think they earned their current position in the company on merit and have some self righteous remarks to share with the rest of us. Just ignore them