Any news on the June 18th announcement? Does anyone have any more info on how big the layoffs are or how long they expect people to stick around and "transition"?
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Don’t try to make sense of anything, you’ll go crazy. There will be mo--ns that make it through and great workers cut. The biggest bang for the buck from a g&a perspective (leaders) will mostly skate through and be laughing in the rotunda once the dust settles. Ten years ago or so the capital budget decreased by like 75% and positions with work volume based on this were barely touched lol
I’d just put a six pack in the fridge and have it ready to go…whatever happens, happens
More like little d day
dEVON
Why do you need more managers if they are planning to reduce headcount to such a point where there are far less people to manage?
@qf they will drag it out in hopes of you quitting and not have to pay you. Direct reflection on the integrity and character of the management teams in both companies.
Ready to go. Let accounting cash out and go. Nobody moving to Oklahoma lol
@k1 wouldn’t that mean you waive the severance if you’re offered a “promotion”?
If they offer you a leadership role to stay on, the best course of action is to decline. Dangling a carrot is followed by the whip or glue factory
@dp Based on what I've seen so far, the new Devon organization could end up with more leadership layers than before. If that proves to be the case, meeting the G&A targets may be difficult without meaningful reductions among individual contributors.
Oh we will promote people for a while, then once the integration period is over, we demote and or let you go. Enjoy the responsibility while it lasts.
I don’t know how it looks in other area but tech got a whopping 10 new leadership roles, 9 at the supervisory level. If this org isn’t also transitory in nature I don’t know how they could justify looking a single person in the face who’s job isn’t overtalking other mgmt in meetings and saying there is no room at the inn for you.
@bb on Coterra side here, we know for sure that Acct was told in their town hall they will be here thru year end for integration, and that most acct will be housed in OKC. Rumor is June 18th is for deadline for teams to be told their integration plans, and not a date for when people to get letters of employment or termination. The CoC policy has no hard date as to when people are given answers other than if they don’t give you an answer after 24 months, it’s guaranteed severance. Devon is clearly taking advantage of that time table and they legally can.
@bv what department?
Got January transition out date (CTRA).
Actual layoffs that day will be minimal, it’s more of an announcement of the integration plan and timeline of how long groups will need to be there. Most depts will have to keep working till Sept-Dec before anyone can collect.