What’s your reaction the the big SLT restructuring email?
6 replies (most recent on top)
what is SLT?
@dn they want to appear big so as to not be gobbled up so easily….
@d7 that’s simply ludicrous. A VP with 10 to 20 total employees beneath them? Seriously? How have they have convinced themselves that it’s necessary to run the company like that. It certainly doesn’t jibe with how they promote themselves as lean and innovative. This is just going to repeat itself again and again until there is a real structural change. Unfortunate opportunity missed yet again.
@d5 completely agree. For comparison the Devon Coterra company has market cap over 3X Ovintiv and will have 28 at the VP and above level. We will have 20. I love BM, great guy, seems super intelligent but I just don’t know what he sees to have us staffed at the upper levels like we are. We are still going to have VP levels with 10, 15, 20 total employees in their whole organization!!!
@cv the company has proven time after time it is incapable of meaningful restructuring. It’s a combination of weak HR and the all too cozy buddying up at the top. Two operating areas.. two! A dozen rigs and a handful of frac crews. But they still wanna play big and so here we are. Same old same.
@OP I think it’s embarrassing. ~23 at the CEO, SVP, and VP levels going into this, we reduced by 5 and then immediately promoted a couple new ones and announced one we are going to fill again. So net less than 10% reduction, which means we will have to lose 200+ of us others - we never learn, so we will see you all in 18 months to do this again. The point of eliminating a job or having someone “retire” is to make headway by not replacing them. Why if BM wants to set a new standard did he not cut a single SVP?