Whiting only has a few more years left in existence. After that, those guys are back in the job market.
The Golden handcuff stock options and grants they have will expire worthless or nearly worthless.
When they get back on the job market, they will be known as the people who drove a once proud conpany to it's death.
They can enjoy their time as chiefs and kings at the moment, but sooner or later, they will fall into the rank of failed and unemployed former executives.
Sorry to disappoint you, but Whiting management will be just fine after the end. Jim Frasier, the CEO of Rimrock who bought that $500MM piece in the Williston, was once the unconventional VP for Talisman and helped destroy that company. One would hope that he wouldn't find a job ever again, but alas....these people keep coming back like bad pennies.
Are the execs still using the private jet? I just find it hard to believe that this layoff will make a big enough dent in the cashflow to sustain them much longer.
You can always expect a little nepotism but this bunch are some of the most unqualified and arrogant that you can imagine. I’m glad people are sharing how they’ve been treated because I hope that others see it and stay far away from this crowd. They can all enjoy their new cars and fancy vacations while it lasts...at least I have a future