Now that we’re done with layoffs for at least the next month or two, the rumor is that there are going to be some imminent organization changes. Too many managers around here. Many people will be demoted and set back 8-10 years in their career it seems. Also new travel policy coming out, which will limit meals to $10, and no alcohol on company card. For some it’s just a paycheck and they’ll continue to cash it, but others with big egos aren’t going to like it. More turmoil on the horizon!
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when your purchase of WV is such a catastrophic disaster that it is actually mentioned in a 2017 book about shale oil as the poster child of stupid acquisitions then you had better be networking for a new job or career
Reserves based lending is only good when you have reserves. when your reserves are slashed due to terrible pricing, the borrowing base goes away and you have no way to purchase new assets. These jokers that ran ep into the ground are doing a great job of repeating here at SWN.
Where were the managers let go from?
I haven't heard anything about Colorado and no one is talking about it. Do we still have an office their????
Last post is a bullseye for those leaders who did the layoffs last week so karma has now paid 3 directors and 6 managers the same layoff thing. Enjoy your next adventure and take your Kool aid cup with you!
Sounds like the moderator finally got internet access in his parents basement and is flushing posts on the regular like egg frittatas on the 5th floor north tower. Smh... more layoffs ahead, specifically bloated middle management. You have a target on your back. If you were kept to lay off people in your group and you have nothing to do, then you’re likely gone soon, before bonuses.
this sounds like the policies of the oil and gas losers from the 80's, no raises, limited expense accounts and mgmt. edicts that creates piss poor morale... get your resume's updated folks as this entity is going down
Howdy all! I am so embarrassed again by Nill Pay and his band of failed misfits. His four years as CEO is a complete failure. Stock will never be more than what it is today and he has laid off more people than hired. It’s embarrassing cause he is no strategic cohort with laser focus to crack the code in order to compete to win.
Onto another company or better yet, retire Nill Pay with the millions you pilfered from SWN for “failed to meet expectations” on your performance review as a wannabe CEO!
What are bonuses looking like? My wife is hounding me to see if we can trade in her benz for a new one. I’m guessing Nill Pay will get some riches.
SWNtards, the end is near. If the 26 banks decide to pull back or get higher interest rates for the loans that are keeping SWN going, it's over. Bankruptcy. The company has been burning through cash at a huge rate each month. There will be no acquisition or buy-out of another company as SWN doesn't have the credit or cash repayment ability. No one wants to buy SWN since it's debt is too high. And very few in the industry are likely to be bought as they also have high debt. The future looks like several companies going bankrupt and no one will buy assets except at huge discount. Nice legacy Nill Pay. You ended up taking a profitable company into bankruptcy.
Since I was leading the millennial breakfast group, and I was recently laid off, I’m sorry to say, I won’t be leading any fabulous discussions any longer. I had only been at SWN for 18 months. No more window office, and taking all my plants home was a chore. Also, thanks to all who helped me with SWN Prius owners/electric vehicle club. Until our paths cross again!
I'd love to see an audit of nill pays "expenses".
@1oun+13umnNq3 I could not agree more!!! Look no further than WV!!!!
There are many in management roles that should have had 8-10 years of experience before being promoted into their current positions.