Thread regarding Devon Energy Corp. layoffs

I don't know what Accounting or IT may be planning, but stop and think about it. If Devon is divesting $5B in assets with a market cap of approx. $17B, that is about 30% of the company gone. The layoff numbers mentioned here seem reasonable. However keep in mind, that the divest program is vision 2020 so all can't happen at once so this most likely will be drug out piece by piece as assets go.

I say stay tuned... Management has to turn the ship one way or the other or at some point Devon will have to make an upper leadership change. That may be by choice or takeover but something has to give.

The OP is obviously not an accountant at Devon because literally the entire accounting department was notified yesterday of what is coming. 30-35% (in accounting mostly, and some of IT) will be let go and out of that, management is supposed to take the largest hit ratio wise.

Accounting management has told many of their employees that a 35% cut is coming. Unsure if that’s company wide or just support functions. Haven’t heard any other discipline management telling their people anything besides the typical don’t buy anything new.

OP isn’t a Devon employee. Igor is, % is correct.

At first glance this sounds quite believable "guys that work for devon that don't know what they do" that could be about anyone I work with. But upon closer inspection the use of the word rumour (british or india spelling) instead of rumor (US spelling) or bullsh!t (Oklahoma 4 day per week spelling), leads me to believe this is an indian (dot not feather) working contract as an IT dude.

The real news is that Devon is selling the Eagle Ford (see seeking alpha) and then going to create a new division to build world class farm tractors called the Ford Eagle. We will all have jobs as diesel fitters.

30-35 % gone from DVN

"It looks like we have a real post from a Devon employee! You know how I figured you out? Your grammar and spelling are horrible. It reflects your level of education. I'm guessing you graduated from a Oklahoma high highschool between 2000-on."

"Oklahoma high highschool" ... Heh. Way to Grammar Nazi, there teach. Sheesh.

Idk how how you don’t outsource majority of those tasks with all the big data and analytics folks you have. I Work for your competition next door. We have the same amount of technical staff yet you had to fill that eye sore with all the accountants and IT. That’s why y’all are sinking. Be an oil and gas company. Not a Silicon Valley wannabe. Don’t get me wrong O&G companies need accountants and they need IT people. They need us to help those who actually keep the lights on. Just not on the scale that I know you have. Good luck. If you truly are an accountant there are literally thousands of jobs waiting for you. Be glad.

It looks like we have a real post from a Devon employee! You know how I figured you out? Your grammar and spelling are horrible. It reflects your level of education. I'm guessing you graduated from a Oklahoma high highschool between 2000-on.