OCTOBER 31, 2024 — POST-MERGER REDUCTION IN FORCE WITH 500 EMPLOYEES TARGETED
ConocoPhillips is warning of a postmerger reduction in force following its acquisition of Marathon.
According to a company statement, “Marathon Oil expects the acquisition to close in the fourth quarter, and more than 500 employees located at its headquarters at 990 Town and Country Blvd. in Houston should expect to be laid off in the 12 months after closing.”
Marathon Oil CEO Lee Tillman said: “We’re mindful of the impact this announcement has on you, your families and your future and the uncertainty it creates. We know that there will be many questions about this transaction, particularly about how this impacts your employment.
“We aim to ensure that this transaction is respectful of the contributions of our employees, either by offering the opportunity to join the newly combined organization or by providing severance packages. Some employees may be offered full-time or transition positions at ConocoPhillips. Employees will also have the chance to apply for other open roles at ConocoPhillips.”
FEBRUARY 16, 2021 — 100 LAYOFFS IN ALASKA
The company has announced that it will be laying off 100 employees located in the State of Alaska.
According to a company spokesperson,
“This past year has emphasized the need for our company to stay focused on cost and become more efficient in what we do. With the acquisition of Concho Resources, we have revisited our overall structure and that has resulted in job losses company-wide.”
“Workforce changes like this are always difficult, but we care about every employee affected and will assist them with outplacement services and other associated benefits.”
“The workforce reduction is unrelated to recent court decisions that stopped works at the Willow field located in the National Petroleum Reserve in Alaska. The cessation of work will affect 120 company employees and contractors,”
DECEMBER 10, 2020 — Original post…
Houston, Texas-based ConocoPhillips, the multinational gas and oil exploration and production company have announced a major restructuring after its Concho acquisition. The restructuring will impact 500 employees commencing in February 2021.
According to a company spokesperson, “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. In light of this and in anticipation of our acquisition of Concho Resources, which is set to close in the first quarter of 2021, ConocoPhillips is taking actions to align our business to remain competitive.”
The oil and gas sector has been beset with a global downturn and a major consolidation is occuring in the industry.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?