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Stock Market/Investing/Day Trading/Speculative Trading Thread
- Thread starter That SOB Van Owen
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Stock Market/Investing/Day Trading/Speculative Trading Thread
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I could prepare a personal financial statement for each.
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ConocoPhillips says it will lay off up to 25% of its workforce, impacting thousands of jobs
Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs.
apnews.com
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Now at $38
BingoDingo
Absolute Idiot
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ConocoPhillips says it will lay off up to 25% of its workforce, impacting thousands of jobs
Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs.
You do realize that these reductions are tied to merger synergies and cost-cutting in corporate functions, right? The merger closed November 2024. They both had headquarters in Houston, so you've got a lot of overlap there. That's how acquisitions and mergers work. I've done a lot of M&A in my career and I've yet to see one where you don't see a reduction of 10-25% of the workforce due to redundancy within the first 12-24 months. It's how you recapture your investment as quickly as possible.
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Heavy cope on this one. A 20-25% RIF of post-closing consolidated operations is certainly not common place or how M&A is done (and if you'd played enough in cross-border deals, you'd know that redundancy is highly regulated in a number of countries). To put it into perspective for you a bit, the size of this RIF is greater than the entire Marathon workforce pre-closing. It's also a global RIF, which beyond just being expensive and a total pain in the ass to administrate, and Marathon and Conoco didn't have overlap in int'l ops. You also do not typically need to hire BCG to advise on ordinary course post-closing corporate function synergies. Ordinary course post-closing redundancy doesn't get leaked and there aren't global CEO town halls.
Notable that Chevron also just did a 15-20% RIF. Ignore the warning signs in O&G at your leisure.
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Quantum stocks been going bananas lately. Jesus
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Yes, it’s been quite nice
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Sold my D-Wave (QBTS) today. Was hesitant, but I’m happy with the gains
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I just cashed out my Pelosi tracker on AutoPilot. Had put some money in there that I had saved for our daughter's wedding. A 40% ROI over a 9 month period. I'll take that.
Yes Jim, I made sure to hold some of those gains back for taxes...
Yes Jim, I made sure to hold some of those gains back for taxes...
BingoDingo
Absolute Idiot
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Ponzi schemes getting exposed is a good sign that we’re nearing the top of the market IMO
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They usually get exposed during recessions.
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Who could have seen this coming with such successful and not at all failing brands
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I more than double my money, and still have plenty in quantum stocks
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Nothing wrong with taking gains, but this is just the beginning for QBTS. By far my favorite Quantum stock.
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Yea, I needed to take some after them just going insane the last couple weeks. I’ll probably buy back in if we see a dip.
