Just watched 2 well paid good older workers get walked out today. Their jobs were eliminated. We just hired someone last month (young and cheap). Twice now. No more big layoffs, just small ones you never see coming. HR made sure management couldn't do this. The old HR. Not our new CPA.
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I think everyone that quit recently did so on their own terms. Some of them were in high-profile roles so I would not be surprised if people were walked out the day of resignation.
It will be interesting to see if the execs acknowledge any of this recent turnover; there could be a mass exodus in January based on the vibe I get around the office.
I also can't confirm this walk out story, but I heard several quit on their own last week. Name names if this is true.
That's not a news flash and this shouldn't be a question anyone has. CK's slide said ~30 promotions and compensation. Why do people still seem unsure if they actually go real money. And then for someone to come on here trying to sound authoritative and say "false assumption" as if I'm the idiot here...the only thing more infuriating than the disparity is being lied to about it.
They got raises. I overheard one of the new land people bragging about being promoted and the money. Also know of engineers being offered more money to stay. It's all top 30 favorites and HR knee jerk reactions now. And this was once a great company here in Plano.
What group? Still can't confirm this at all.
One of the 2 let go was my friend and a hard worker. This was true. Unfortunately.
Yep--starting to sound legit until that comment. Now sounding foolish.
If you don't think they received raises you are really drinking that kool-aid.
Valid complaint but just because someone got a new title doesn't mean they got a pay raise to go with it. False assumption.
The statements made about the company being demoralizing weren't intended to be opaque or difficult to understand. Nor were they related to the state of the company as a whole, but more to the increasing disparity for individual contributors. Yes, seems the company is making a little progress through the toughest times. That's great. Happy for the ones seeing a benefit from all our hard work to survive. It was simply meant that on a personal level, my contributions weren't valued by the company. The message was received loud and clear. ~30 were recognized and rewarded. The remaining ~850 have nothing but a dangled carrot that our comp is being strutinized and won't go down, IF we are fortunate enough to keep our current position and not be slotted in a lower-paying position. That message was very carefully worded to the point that it gave no comfort if that was the intent. The message seems to be that the Company is poised to do great, and the A team has been selected and those are the ones that will reap the rewards of future successes. I don't want to be negative, this is simply the company's message and it is depressing.
For those here claiming the company is demoralizing, please explain that. Seems to me we have made it through the toughest part of the toughest downturn maybe ever and are still standing, and are poised for mega gains. Sure, it's been tough especially for those laid off, and I feel bad for them, but we're leaner and meaner with nothing but upside from here. Regarding the debt, much less than many competitors and we're not stressed servicing it. By the time 2021 rolls around oil price will be such that our debt metrics are back in normal ranges.
The oil business has always been cyclical. Those who started after 2000 are just starting to get a taste of one of the down cycles. Who knows how long it will last? But worrying about that and rumors isn't going to help save this company. And there are those of us here who would very much like the opportunity to continue our careers here past the 2019-22 timeframe when our debt comes due. For us, the number one priority is finding ways to profitably develop our resources, both short and long term. This message board and its predominantly negative attitude need to be about the lowest priority of what we think about, and it is. And no, we aren't the ones who recently got promotions or raises.
If you have a job that pays a decent wage right now in the industry, you are one of the lucky ones at this company and so many others. Not sure what is accomplished by leading with fear and negative attitude. If jump ship, better make sure you aren't jumping onto a sinking ship or company looking to take advantage of your mind playing out worst scenario. Lots of assumptions here that are passed off as fact. Title of this thread perfect example. Forget the petty rumors and just do your job. If you can't do that, get going and leave it to the adults.
I am busting my a-- as well, but I also am getting frustrated. I talk to my peers at other O&G companies in DFW and Houston and, while everyone is dealing with the new reality of $50 oil, there doesn't seem to be the demoralizing environment that we have a Denbury. Part of that the deep hole we are in and facing the real possibility of bankruptcy in the coming years, but I think some of it has been self-inflicted regardless of what the balance sheet looks like.
That being said, I am going to do my part to help make Plano an enjoyable place to work again. Just asking that everyone else do the same until we get the pink slips or find the next thing (or both).
I never whine, I work very hard and contribute...I do my part, but this Company has quickly become simply demoralizing. I get physically ill coming in each day. I have a good pulse of other e&p companies and know they have genera market struggles, and I also know they still aren't demoralizing to all but "~30"
Everywhere I turn their are references to the ~30...jokes, jabs, speculations. Management will never see or hear the undercurrent, but it is s---ing the life out of us and near impossible to avoid...and impacting productivity. This is the effect of the current strategy.
Yeah, if you are not a politician (brown-noser) and part of the cool boy/girl club.. you are in essence screwed. Remember, at DNR is who you know, not what you know.
I have seen some good talented deserving people denied raises point blank for years while the "yes man" type of people taking 15K to 30K raises. Go figure.
Market forces demand leaner meaner companies. We are no different than any other E&P. We are poised to become great. Stop whining, work hard, and contribute to what we are about to become.
I hear they are offering big time raises to people who are leaving in order for them to stay?? While "they" tell us to buckle down. Most of us haven't had a raise in years...CK and his group are greedy! Gareth would never allow the (pay the few starve the many) plan they push!!!! Get out now peeps. We are done and CK just lining pockets of the yes men and the cronies.
Watch you language Chris! You are our "role model".
This post is a lie, no one was walked out today and no one was hired last month. Go stir up a sh---storm somewhere else.
What group did this happen to?
You can't put all of this on Jenny, she and Whitney ultimately take marching orders from the EC and if Whitney was still around she probably couldn't have influenced the outcome any different.
That being said, I can tell this shook my team up today. Instead of RIFs, which the Company unwillingly telepathed to us in the past weeks in advance, there won't be any warning going forward if this is the new norm.