How come Pioneer knows more in a matter of hours (severance, bonus) than we know 3 weeks from closing?
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He took care of his own, nobody else. I’m an id--t for being surprised. Since day 1- he’s been in it for his win and we are all collateral damage. I will 200% support the shareholder lawsuit. The $200M the sr staff got should have been shared with us just like Pioneer did. Would a little meaningful severance have really been that hard? My reward for sticking it out through these last horrible 6 years…nothing.
The now former DEN execs only cared about themselves and like was already stated in another thread they can su-k a giant frac sand tote full of big ole’ D’s. And if you told them there was money involved they would do it.
PXD employee here. All rumors on bonus and severance are true. The raise comment is not true. We won’t know that information until after January. We are expecting to close Q2 2024 at the earliest. Our current building in Las Colinas will stay open for at least 2 years per terms of the agreement. The integration teams are starting next week. There’s not a lot of folks wanting to move to Houston here but obviously waiting to see what Exxon offers. Yes in many ways SS stood up for us. The severance was a must in order to make this deal. I think PXD short changed themselves and took a deal just to get paid. It was a great deal for Exxon. This is literally all we know right now.
The only specifics our board negotiated were their own payouts. Not even a premium per share. Worst deal possible for Denbury employees. Zero money to the employee as part of this transaction. It’s a dark day.
When are they moving to The Woodlands? I heard YE2024? I, too, wish we had the option of taking a severance or the job, and knew more about the timing.
False statement on the 7% raise post. They do not know 2024 raises yet.
They ARE getting the option to take the severance or the job, which is something that I wish we had the opportunity to do.
They’re also getting 7% raises across the board. But enjoy your early Christmas bonus!
I’d say Pioneer heard about our radio silence and they had more negotiating power than us. Hindsight is a b.
It’s 250% of target not 200%.
Because SS swings a big hammer and can call the shots. Also helps that PNR is a much bigger prize than DEN with more room to negotiate.
We have a very incompetent integration leader.
POS management
Very very disappointing. PXD really planned this out so they could communicate good info at the start to the employees. Compared to us knowing NOTHING, not even on our bonus, weeks before closing and change of control! PXD getting 200% of target, versus us….crickets!
He only cares about his payout and his b**t kissing, incompetent direct reports.
Because our CEO is dumpster juice