375 to 550 people how many will be CONTRACT nuts…. The storm is coming! Thank you Callon for sc--wing us up !
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They can give Warn notice same day as severance just means they have to give 60 days of paid retention benefits. At least that is how previous employer handle it in 2015.
Did everyone of the legacy people get a minimum of 6 months even if they worked for a year?!
This may be little consolation but it can’t be more than 500, that would trigger a WARN notice.
Severance for Legacy folks was 6 months paid over 12 months; plus unemployment would mean you probably get about 8 months to find a new job. Probably a blessing in disguise. Callon severance was a year + all stock vested and people were getting jobs as soon as a month out.
Why blame Callon? The problem is what APA paid, what price APA received for assets they sold, and the lack of improved performance of the retained properties. Apache used to be the best at ‘acquire and exploit’. What changed?
Way way too top Heavy. Hopefully they don’t cut the workers
The blame there squarely falls on the new heir apparent for CEO, SG. He's d-mb, he's arrogant, he's ready to lead this tu-d further down the toilet. They placed a 38yo banker in charge of BD who quickly bought the worst position in the basin. The stock tanked immediately after and has remained bottom of the barrel since (hence the RIF to try and save these over paid fools skin). The reuslt for this success we find ourselves in; the wunderkind gets is a major promotion.
JC drank the alpine high Kool aide from SK and now SR is drinking the same swill from this patchy faced doofus.
Blaming Callon is truly id--tic. Shut up.