Thread regarding Southwestern Energy Co. layoffs

Bookmark This Thread For January 2021

This is a good news bad news thread. So here goes:

Good news is no layoffs in December.

Bad news is layoffs in January 2021 will be eerily similar to 2016 layoffs both in scope and scale. I made it this far but....

Good news is severance will be generous from all the free cash flow.

Bad news is those left will be doing more with less but expected to “exceed” expectations.

Pay attention to your supervisor’s words and deeds this month as an indicator about what layoffs will mean to you.

I can promise you that you will know before Christmas if you will have a job here in 2021.

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| 2321 views | | 18 replies (last December 5, 2020) | Reply
Post ID: @OP+18bbjD4A

18 replies (most recent on top)

this may be a stupid question but given:
with HP moving its headquarters back to Texas with a new campus in spring 2021,
HP just built a new building next to SWN
Spring.
and no one besides SWN in the current building SWN sold and leases.

could HP be buying the old SWN Spring building and SWN just close up in Spring and move up to Cannonsburg?

conspiracy theory?

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Post ID: @5pce+18bbjD4A

I left 9 years ago, the last PUP vesting distribution I received was a complete joke after the Fayetteville started declining, it was less than half of the threshold price (which read as minimum in the original paperwork) I got like 20% of what it should have been. I'm sure they'll be waayyy better this time lol

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Post ID: @4cpi+18bbjD4A

PUPS 2021! It’s gonna be a great year!

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Post ID: @4iue+18bbjD4A

Omg. This is starting to leak out but yes my supervisor said PUPs are gonna be it in 2021. She said a 3rd party report has cash as major retention perk. Once layoffs happen they want to dangle PUPs so people stay. Me and my work peeps like this.

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Post ID: @4hhj+18bbjD4A

Hey everyone. Pay attention. I have been with this ol company long enough to have gotten PUPS. Word on 5th floor street is they are coming back in 2021. Seeing how our stock is never going to be above $4 they are doing PUPs vs stock for retention purposes. Who besides me is excited about this!!!

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Post ID: @3anb+18bbjD4A

Our stock s—s. All others are up, thanks to the leadership of JB. I should set it to auto sell at $2.85.

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Post ID: @3wvu+18bbjD4A

I am so stressed out about the January layoffs. Losing sleep and my hair is falling out plus not eating. I work hard and do my job plus that of others who were let go before me. I cannot lose this job as my kids depend on me.

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Post ID: @3bog+18bbjD4A

Book it. January 2020 layoffs = January 2016 layoffs.

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Post ID: @3dqh+18bbjD4A

I agree with last post. These clowns let me go last year. They thought it was a gain. Nope. While I am still unemployed and about to lose my house working for SWN was the peak of my career.

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Post ID: @2uks+18bbjD4A

How bout the clown talking about all our cash, the great balance sheet, the free cash flow and calling names to boot?
Are you really that big of a dunce, that delusional, that obtuse?
Name the quarters Southwestern Energy made money, accumulated earnings? There aren’t any!
Why hasn’t Wall Street noticed? Our stock price has lost over 80% of its value since 2016 and that’s with all the lies we have told the public. If the public knew the true story, our stock’s value would be zero and the building would be closed and padlocked. Many from the c-suite would be on their way to prison.

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Post ID: @2mec+18bbjD4A

Lots of stock for sale from the merger... no former MR employees want that c-ap, especially since Bill axed them all.. the private equity firm will sell as well, so this will turn into a dumpster fire. But Mgmt still has a corporate jet and the highest payroll, so even if they do layoffs, they are still well compensated. Employees should sell stock now before the window closes. Because it will be back down below $2!!!!

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Post ID: @2vcd+18bbjD4A

Holy smokes. Just got home after going to the woodlands for dinner. Last post is spot in. Every light on and what a waste of money. Gee wonder why we are always behind the 8 ball with free cash flow. Layoffs are happening next month but I have doubts about severance much less bonuses for those left. Can anyone I mean anyone share there thoughts? Validate me? I know there are dozens of people who post here so come on guys thoughts!

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Post ID: @2lnn+18bbjD4A

Yeah. Every time I drive by our office at night, every dad gum light is on and those staircase safety death traps are lit up for the world to see. We can barely pay the light bills as another fella said. I don’t get it! Don’t forget your 4 points of contact in those stairs. Guess you have to be well endowed to work at Southwest to hold on with four things....

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Post ID: @1dhu+18bbjD4A

Hey all we got us a winner in the most pathetic employee contest. Some bean counter I am sure. Enough said. Listen we have the cash to write off hundreds of employees in January and still get a decent bonus afterward. Pay attention to your supervisor’s words and action these next few weeks.

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Post ID: @1dnp+18bbjD4A

I know not of what I speak?
First, I’ve read every Southwestern Energy 10Q and 10k for the last 15 years. The numbers are horrible. How Southwestern is even paying its light bill is astonishing. I can’t see how Southwestern has ever made money. If you understand accounting, the losses are chronic and about to get worse.

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Post ID: @1ygx+18bbjD4A

To the last post. You know not of what you speak. My company has a solid balance sheet and as sad as it will be any employee laid off in January 2021 will be remunerated acceding to current HR policy. For those that will be unemployed soon they are landing in a job market that will welcome them back with open arms.

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Post ID: @myn+18bbjD4A

Southwestern Energy doesn't have any free cash flow. Southwestern Energy never has had any free cash flow. Southwestern Energy will soon be in the dust bin.

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Post ID: @ilm+18bbjD4A

It’s going to be a dark winter, but not for what you’re thinking. Coranavirus, sure. But layoffs as well. I’m hoping the OP is right and we all know our fates prior to Christmas. It could be a holly jolly Christmas or it could not be. That is the question. Thanks.

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Post ID: @hwm+18bbjD4A

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