A lot of people expressing their opinions on what’s gonna happen to the workers after the company is acquired. Has anybody had any experience of being in a company that is acquired by another company, or are all your theories just basinly guesses based on your internal logic?
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There are some limits on what Anadarko can do. They have have to deliver a going concern, not just assets. There are legal, EHS, and insurance reasons why certain functions need to be kept in place through the closing.
The contract will have a balance sheet date and a working capital adjustment. The more money RAW saves through closing the more he gets at the back end. If working capital goes down, it comes out of Anadarko's end.
Bet on there being significant headcount reductions before closing.
Yes been through this before. It will be a financial hit - guaranteed. It is the industry we work in. APC is one of a few companies left more or less intact for the last 40 years. But the ride is over. Time to reinvent ourselves.
Cheers I am glad someone said something with sense. We are in a business and companies are sold and bought everyday so if you just thought and did not prepare for the what if. Well that's on you! I did on the 2016 layoffs and prepared and have a better job for it.
I first hand experienced the layoffs in 2016 and was over 40 . And seen a lot of negative from all Anadarko folks toward the people that got there walking papers. Laughing about us older people getting let go. So it hurts. But I recovered. So all you folks are dealing with what I went thru and other good folks of 2016 . After being a excellent employee to Anadarko for 25
years. So good luck to recovering . You will manage just fine if you are good at what you do.
Yes, OP. I’ve had actual experience being in a situation that the company was acquired.— It ended badly.
I've been on both sides multiple times, and in fact have been a key person deciding who stays and who goes. There are a few basic things to keep in mind: 1) When a merger promises synergies it means reducing costs by taking advantage of supply chain synergies, etc., but at least half will be through layoffs. Yes, there will be a lot of layoffs. 2) You are at the mercy of those making the decisions - some will be good people doing the right thing, others will be mo--ns. Just make a promise to yourself that you are going to work as hard as you can until the end, then whether you stay or go you can hold your head high for being someone of integrity and character. I can tell you that those who worked hard, we always did extra things for. 3) Yes, the decision makers will favor Chevron people, it's who they are used to working with, and frankly it's a huge deal to merge two companies so they will err on the side of those whose skill sets they know. It doesn't mean you are a bad worker or worse than someone at Chevron, it is just the way anyone would do it. 4) Life will go on, the great thing in the oil industry is that although we go through these dang mergers far too often and see a lot of really good folks leave, they do have very generous severance packages - most your friends probably walk out with 6 - 12 months pay. AND there are a lot of jobs in the Houston area, many companies right in the Woodlands. None of us like to start over and leave those great friends we've made, but Anadarko has great people and many of you will have jobs lined up before you even walk out. I've been laid off several times in mergers and every single time I walked out of the company on Friday with my severance check and started Monday morning at a new place. 5) Take the time now to start your job search, don't be desperate, look at the 2 or 3 places you really most want to go and try to start getting connections, getting resumes in for jobs, etc. A good employer will wait. The team I run right now is short people and we are literally waiting on several folks to join us from companies that are being bought, and I'm waiting in the case of several of them 3 -4 months. Not everyone will wait, but most will if you are the right fit. Get the resume shined up, dream big, maybe this is the time to move to that place you've always wanted to live or try something new. When Chevron comes in they will probably let a set of folks go immediately after the deal closes, it's usually not a large group - all the execs, higher management, and then maybe 10 - 20% of staff that they intend to let go. Then the rest of the folks they are laying off will be staggered over the next 2 - 6 months most likely. They will want to do it fast to save as much cash as possible in synergy savings, but also will want to be smart. Companies usually do it too fast and then find themselves short people and without the work of merging all done.
Hang in there, it is out of your control, other than again, just work hard and go out with your head held high.
In addition to APC function/back-office roles being at risk due to redundancy...all the APC pets of management, the brown nosers, the paygrade skippers (jumping one or more levels), the powerpoint kings & queens, and the lap dogs will be cast out into the real world as they add no real value to Chevron. Squirrel away as much as you can now... a long cold winter is coming.
ya Anadarko bought WGR and with in 10 years we were all weeded out 1 by 1. I am working for a better company now. Doing the same thing but much more happier. So it works out if you are a good employee.
Many APC employees have through the UPR and Kerr McGee acquisitions. Talk to folks who have been around in 2000 and 2006.
Yes, you basically qualify and interview to keep your job. If you were marginal before they will say goodbye and give you severance. The execs with APC get a darn good golden parachute.
Yes - twice. Management will tell you nothing. The more people who bail out, the better are the odds that you will stay employed. Most layoffs occur 1-3 months after completion of acquisition or merger. People who stay on and get axed will be calling you crying about what happened to them and if you have any leads or contacts.
Yep. You don't know what happens until it happens.
Speculate all you want. Every situation is different.