What’s next for those of us who’ve managed to survived the 4th round of layoffs within the past 5 years??? The work load is the same, but fewer folks...the re-orgs seem like temporary setups to see who’s pulling their weight and spot lighting the dead weight that should’ve been dropped this last round. The morale is at its worse...Does anyone else see another round of layoffs this year. The stock price still remains c-appy and so does BW.
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This is all great stuff. As the on site counselors stated over and over last week, please use this layoff dot com board to let out your feelings. It will help you process and move through this 5th layoff event. I expect to hear more true feelings from employees previously too timid to post anything here. We’re all here for you! Let it flow! Let it flow!
All these posts are from legit employees. I hear ya and so does the rest of the company. All truth. Thank you!
The reason you never hear anything of substance about the future of SWN is the leadership has zero clue how to create a future that doesn't involve a sale, merger or bankruptcy. There is a reason they hired a CFO with bankruptcy experience. The company has chosen to stay with the "hope" strategy for the business, which is hoping for better times. Any business school graduate can tell you that hope is not a strategy, but you'll never convince Nill Pay. The Board is a selection of hand picked cronies who themselves have never run successful businesses, so you truly have the clueless leading the blind. The value destruction at SWN is a textbook example of how not to run a company in a declining market. That's what Nill Pay's legacy will be: Utter and abject failure.
There is no rational reason for swn to be drilling in $1.8 gas environment — i know hedges ( but you get the benefit, regardless) ... That would of course result in more layoffs . The future is slow reduction in force.... exhaust remaining drilling inventory, and then possible a roll up into some private equity fund that has taken all the debt, and of course more layoffs... Then a move to a smaller building, which would be a good time for layoffs and since you have fewer people – less IT, HR and facilites — layoffs again. Maybe a handful of people trek back to greenspoint and rent out a floor from in a class B building
Biding my time as well. 2 weeks going in as soon as bonuses hit my account.
Man, the stories are starting to come out of the woodwork like when roaches scatter when you turn on the lights! There was someone who was laid off last week who had just purchased a new corvette two weeks before and was thinking they were untouchable. And then, bam, laid off before bonuses. Rough. I hope they didn’t layoff anyone who was due to have a child. That would be cruel.
Here’s a question... was SWN ever a “great company?” When gas was $12, even an id–t could have made made everyone prosper. Now that they still have an id–t at the helm, who’s flailing around pretending to be a “leader”, using business school buzz words he learned on flash cards, like “cohort”, and “laser focus” and “compete and win”, to name a few - nobody’s the wiser, only miserable in this cyclic loop of failed leadership. Enjoy your leader, everyone!
Funny you should say that now. I know of at least 15 people, various levels in org, all going to leave as soon as bonuses are paid. They are biding their time till then. Watch the max exodus From this once great company (before 2016)!
It’s sad that there are people who are still there that really think this guy who runs the place knows what he’s doing. What a disservice to your family and loved ones. If you haven’t figured it outs yet, the joke is on YOU!! Way will continue to rake in millions in dumpy stock, while you continue to stress about your career. Get out NOW!
It’s sad that SWN employees have to come to this website to vent and get any news. HR, management and especially executive management have continuously failed the people who produce for SWN.
Remember EVERYONE is replaceable!!! Mgmt is cutthroat at SWN.