Anyone know?? Updates with company comment in 5th paragraph. You're put on a "tryout" period where you are a "contractor" getting paid by another company that does jobs for Concho. — “However, we anticipate the number of reductions in Houston could meet the threshold of 500 or more.”. To put it bluntly, make sure to have a contingency plan in case your head is on it. ConocoPhillips to Acquire Concho Resources in All-Stock Transaction. Concho is the most unethical place I have ever worked. The lazy employees are either protected by poor management or recognized for doing what they do NOT do. What about... Getting a littled worried, heard some rumors of layoffs here in the Permian Basin. ConocoPhillips plans to lay off about a quarter of its Houston employees after the nation’s largest independent oil producer acquires rival Concho Resources early next year. — “We have been transparent with employees that targeted workforce reductions in certain areas of our business may be necessary from time to time to align organizational capacity with expected future activity levels,” Conoco said. Shale drillers are staring down the barrel of the worst oil bust yet. Now that's a whole lot of layoffs right there. Get comprehensive information on the number of employees at Concho Resources from 1992 to 2019. The approaching takeover of Concho Resources Inc. by ConocoPhillips will apparently lead to the layoff of nearly one-fourth of the workers at ConocoPhillips headquarters in Houston. — read more, Just got word that the layoffs have begun here at the Office! It would help a little... Concho had $3.9 billion in long-term debt at the end of June and has not posted an annual profit since 2018. Hopefully they’ll offer a relocation package.... As a ConocoPhillips’s employee I’ll offer you some insight into our new company. Reason I ask is they do this to determine vacation time so why would it be done on severance determination? — No proper HR protocol is followed. Concho was planning to cut spending by 33 percent even before this whole pandemic thing hit. With more than 1,000 employees across the globe, the Company's solutions are sold to more than 6,000 customers across 50 countries. And don’t forget (because our managers and leaders won’t) WE are taking over YOU. read more. HOUSTON--(BUSINESS WIRE)--Jan 15, 2021--ConocoPhillips (NYSE: COP) today announced that it has completed its acquisition of Concho Resources (“Concho”) (NYSE: CXO) following approval by shareholders of both companies.“We appreciate the strong support for this transaction from the shareholders of both companies, which we view as further affirmation of the significant benefits it … — The average salary for Concho Resources employees is $89,400 per year. At least 500 Conoco Phillips employees could be laid off early next year. Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. There should be investigations done... But they want us to stick around and work for them again...? … Have a confidential tip for our reporters? Conoco emerged as one of the stronger independent oil producers from this year’s pandemic-driven price crash with almost $7 billion of cash on hand at the end of the third quarter. Worried about my job and family. Toxic team and management environment. The accounting department is extremely stressful, but the people are all very nice. read more. promises and I turned down another offer with a much better... Never ever did this company prove true to what I was offered at hiring as far as what I was offered... bonus, stock, advancement vacation, etc all was B.S. What’s the word friends? Management tries to be "good" but you can tell a lot of what they do is because they have to cover themselves. GameStop’s Volatile Rally Smashes Wall Street Price Targets, Merck Shuts Down Covid Vaccine Program After Lackluster Data, GameStop Short-Sellers Reload Bets After $6 Billion Loss, NYC Asks Biden Team for More Doses; Irish Lockdown: Virus Update, It Seems Money Does Buy Happiness After All. What a failure! Morale is extremely low, no turning back. — The Midland-based oil … Number of employees. ConocoPhillips will be laying off 500 workers in Houston, the company said Tuesday. Affected staff to be notified from Feb. 1, will get severance, Conoco says it’s cutting jobs in line with future activity. Top Permian Basin Shale Producer Is About To Get Smaller Concho Resources (CXO) announced Tuesday that it would sell assets in the Permian Basin and … “The process to determine the exact number of impacted employees is ongoing,” the company said. Permian Basin. Everyone will get laid off, take the package and run. Fox News - 20+ January 19 , 2021 . Visit PayScale to research Concho Resources salaries, bonuses, reviews, benefits, and more! Concho Resources Inc. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. +0.61 +1.15% ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts … Why am I reading about this on other boards and not this one? Who knows what happens after that. State Street - 1, 200. I'm scared things might turn out much worse... This is bad. At least 500 Conoco Phillips employees could be laid off early next year. Nobody knows what the future holds anymore. Well the saying every dog has there day... welcome to the club COG. Concho is a great place to work, however, upper management allows team leads to much freedom to do as they please with their teams employees. It's almost time, sad ending but I enjoyed the ride. Affected employees will be notified as early as Feb. 1 and will receive 60-days advance notice, severance pay and help finding new jobs, Conoco said in an email on Tuesday. Co-workers were awesome and willing to help when in need. — Messages relating to layoffs at Concho Resources Inc. are presented below the company info. — USD/bbl. Do I get credit for previous years of service if I worked for ConocoPhillips prior to coming to Concho. We’ve had our 20% cost of living adjustment cut and our savings plan match eliminated. Concho Resources total number of employees in 2019 was 1,453, a 3.33% decline from 2018.; Concho Resources total number of employees in 2018 was 1,503, a 24.94% increase from 2017.; Concho Resources total number of employees in 2017 was 1,203, a 10.88% increase from 2016. https://www.reuters.com/article/us-conocophillips-layoffs-idUSKBN28C0BL Before it's here, it's on the Bloomberg Terminal. The company agreed to buy Concho in October and the $11.4 billion deal is expected to close next year. I can guarantee once the acquisition is completed heads are going to be on the chopping block. But, that said, y’all need to be aware of the backstabbing poisonous culture at ConocoPhillips’s. ConocoPhillips (COP) plans to lay off 500 or more of its Houston employees after the acquisition of Concho Resources at the beginning of 2021. Bloomberg reports that employees will learn in February who gets the 60-day advance notice and who doesn’t. Micromanagement from highest levels, insecure managers, no strategic planning. read more, Long-time ConocoPhillips’s employee here. Since last Wednesday, rumors have been flying that mega-independent ConocoPhillips COP is on the verge of making a deal to purchase fellow independent Concho Resources… Responding to warnings of potentially violent demonstrations, governors across the nation are calling out National Guard troops, declaring states of … It's concerning that COP staff seem to have such disdain for their own company, especially the SPIRIT values. read more. FILE – In this Tuesday, Sept. 25, 2018, file photo, then-Michigan Gov. 538 employees have rated Concho Resources CEO Thomas Greco on Glassdoor.com. — Most stressful place I've ever worked at. Ironically concho never thought they would ever catch the lay-off game. Since last Wednesday, rumors have been flying that mega-independent ConocoPhillips COP -5.7% is on the verge of making a deal to purchase fellow independent Concho Resources, holder of … Glad to be at Concho right now. ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc. You can filter them based on skills, years of employment, job, education, department, and prior employment. If you could leave Concho right now, where would you go? The acquisition of Concho will make Conoco a major player in the Permian Basin, the world’s biggest shale field, and gives the company the option of growing production in the future. Co-workers were awesome and willing to help when in need. Biden pulls Keystone Line's Permits - Layoffs to begin. Just a Merger.........PXD here we come! When the cuts are made and the Midland dust settles (jk, we all know it doesn’t ever settle)........... will the Joe Cone still be there for us? Bloomberg reports that employees will learn in February who gets the 60-day advance notice and who doesn’t. Concho Resources List of Employees: 1992-2019 There's an exhaustive list of past and present employees! Any rumors on what severance package may look like? Any Idea what Severance packages look like? Is the grass any... ConocoPhillips Commences Exchange Offers and Concho Resources Inc. Commences Consent Solicitations. But so far CEO Ryan Lance has given no indication of a major ramp up. This could be significant if severed. As of Dec. 31, 2019, Concho had 1,453 employees. — If they freeze the pension what the hell does that mean for us? How Concho is going about it though is a total embarrassment, if the layoffs are necessary then fine call it that and give your employees packages and help them along... — read more Concho … The … The approaching takeover of Concho Resources Inc. by ConocoPhillips will may lead to the layoff of nearly one-fourth of the workers at ConocoPhillips headquarters in Houston. The media mostly writes about the consequences that a possible acquisition would have for ConocoPhillips, but there is no mention of what that acquisition would bring us. Tough for the others. Concho management did not look out for you. — read more, if you moved from a different company to Concho do the years of service at previous company carry forward to concho? In 2018, bought RSP with 9.5B, and 2 yr later, sold out for 9.7B. This puts Thomas Greco in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. I hate being someone who worries, but does anyone got the facts????? Will you get treated the way we treated companies we bought? Concho is a great place to work, however, upper management allows team leads to much freedom to do as they please with their teams employees. I see all these rumors but people keep saying they're BS. Be prepared to... See insights on Concho Resources including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Cons. — read more, I have been reading between CXO and COPs pages in here. They only looked out for themselves. But the company is not immune from the slump and has reduced production 22% over the past year, meaning fewer employees are needed. Stock up one day down the next. Get comprehensive information on the number of employees at Concho Resources from 1992 to 2019. And that is a horrible experience in itself. Concho Resources Salaries. Concho Resources has 1,453 employees across 6 locations and $4.59 B in annual revenue in FY 2019. As of June 30, 2020, ConocoPhillips had operations and activities in 16 countries, $63 billion of total assets and approximately 9,700 employees. All 55 and older are being offered VSPs. — Concho Resources Salaries. Sad. Concho Firings I think the overall consensus is that we all know these “layoffs” are happening. ConocoPhillips plans to lay off about a quarter of its Houston employees after the nation’s largest independent oil producer acquires rival Concho Resources early next year. Seems like that buildings in SE NM could be for sale soon. The biggest question in all of this unknown. read more. Mission Support Alliance - 30. Like the old saying goes, nothing good last... Sadly your perfect palace is crumbling along with your stock. A governor who wants to end Oil & Gas. ConocoPhillips will be laying off 500 workers in Houston, the company said Tuesday. We also don’t have an HMO option for insurance just an expensive high deductible out of network plan. I’m hoping to be “let go” gracefully with EOI and wish this merger and combined company well. Aramark East Carolina University NC - 440 . Interactive chart of Concho Resources (CXO) annual worldwide employee count from 2007 to 2020. Probably less than a year the offices will be closed and everyone will be moved to Houston or Bartlesville, Ok. Finance, IT, HR will go to Oklahoma and the rest to Houston. Just saw this on Conoco's page https://www.thelayoff.com/t/17xUF6kg Seems like a good place to lose jobs and money. read more. read more. Last month he pledged to only reinvest 70% of the company’s cash flow in capital spending, indicating a conservative approach to new drilling. This company has thought of every way to make life for the employees as convenient as possible, from the company daycare, to the on-site medical staff and 24 hr workout facility. Years of service calculation for severance? Or just that simply rumors. read more. Rick Snyder speaks with reporters during a news conference at his office in Lansing, Mich. Former Michigan Gov. The other departments in Concho seemed to be very happy and satisfied with their jobs. General Motors Co said Monday it will layoff 1,100 workers in May at its Lansing Delta Township assembly plant in Michigan as it shifts production of a vehicle to Tennessee. ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc. Visiting from the ExxonMobil (XTO) board. The Permian Basin Is Getting Very Difficult to Investors, Use of this website constitutes acceptance of our. When did we get to this point? Are these rumors of buyout in January solid? Things are looking horrible - Concho Resources may have layoffs soon... No Buyout! In a statement, the company said though the process to determine the exact number of impacted employees … December 2, 2020 The approaching takeover of Concho Resources Inc. by ConocoPhillips will apparently lead to the layoff of nearly one-fourth of the workers at ConocoPhillips headquarters in Houston. With more than 1,000 employees across the globe, the Company's solutions are sold to more than 6,000 customers across 50 countries. Most stressful place I've ever worked at. HR does not take employees serious when filing a complaint. read more, Concho is not what is purports to be in a highly recognized BEST WORKPLACE company. 1,453 (2019) Website: www.concho.com: Footnotes / references: Concho Resources Inc. is an American energy company engaged in hydrocarbon exploration, incorporated & organized in Delaware and headquartered in Midland, Texas, with operations exclusively in … January 18 , 2021. I have friends across all industries that have been laid off and it is... So bad, upper management forcing people to attend the holiday party and taking names if not attending. Good luck. I'm afraid there will be a lot of redundancy, but the question is how deep will... They are doing everything to maintain their image rather than... Not good at all. read more. Concho management greatly values their team and wanted to provide top-notch amenities for their employees’ well-being and satisfaction. ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc. Thomas Greco has an approval rating of 63% among Concho Resources' employees. They don't want to call anything a "layoff" so they just lie, and make up whatever reason they want to fire someone. (1) For your career and annual ratings/rewards, it’s better to look good than be... Not sure what the future will hold for us but still grateful for the past, the job and benefits changed my life and were greatly needed. HR does not take employees serious when filing a complaint. Guess what.... no body is immune in this market. You can filter them based on skills, years of employment, job, education, department, and prior employment. I just wish I get my job back. ... $63 billion of total assets, and approximately 9,800 employees … Concho Resources List of Employees: 1992-2019 There's an exhaustive list of past and present employees! Anyone heard any other news/rumors of buyout? Unethical hiring and promotion practices, unsafe work environment for field employees, encouragement of unhealthy competition with in teams. Ok hired almost 10 years ago. Pretty sad. ... $63 billion of total assets, and approximately 9,700 employees at June … They got the same great packages, will you? January 20 , 2021. 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