When Devon Stock breaks below 35 Devon will be a ghost town. HUGE layoffs await and contractor cuts and I MEAN HUGE!!!! Projects put on hold and drilling stopped. It will be come a matter of survival. Then the question has to be asked will Devon be sold? Of course it could! They have to get the stock price up some how. The tower will be empty. Sept 8th will be a the black Tuesday as the exodus of people leave the building. Have lunch with you friends this week, they me be gone soon. Middle management supervisors will be gone. IT will be stripped of almost everyone except operational staff. Just remember it's not by choice Devon does this; The oil market is tanking and they have to survive. Layoffs and 25% cuts in salaries. Like the 80's the high paying jobs will be gone. You'll get what everyone else does. The oil bust will last 5 years or until there is a war In the gulf. Bad times for Oklahoma.
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Lol you are beyond stupid. Did you get rejected when you applied at dvn? Do you feel a great immense of power writing that? Lol!
Sounds like DVN must have hired the same reorg consultants that CHK uses!
Meh even if Devon layoffs no Biggy 75% of the corporate staff does diddly squat. First to be let go are the people you always find smoking and drinking coffee n flirting most of the day who don't put in 9 hour days yet do 9/80. I've seen some real good people let go and some people who chat all day about there problems on phone or call in sick all the time still at Devon, what morons making these decisions. The truth of the matter is corporate if they keep the good 25% company won't miss a beat. But that won't happen cuz it's ol boy club mentality in who stays n who goes.
Today, Devon stock up a buck eighty-two at the close.
Are you a child to resort to name calling? All the poster was trying to say is that we all need to stop being so negative and have a little bit more faith that everything will work out. Also, why is everybody so quick to believe the original post when they would not even cite a source?
Yeah - this is where all those Whaton MBAs in the financial department earn their keep: SLASH 'N BURN!!! Make the stock look good to shareholders AND to prospective buyers! BUY LOW!!!! Stock will be snapped up in a heartbeat!
That was called the gas bubble in 08-09....this is the oil bubble....we have nothing to fall back on. You are an idiot.
Why don't you people have a little faith? The energy sector saw this before in 2008-09 and we all survived then.
Pretty doom and gloom there. I agree with most of what you said...but I would only expect the layoffs to occur right after quarterlys. Also, come Q1 or Q2 of 2016 I would expect a major staff reduction and a severe fall in stock for reasons that most devon employees are aware of...or at least should be aware of.
Devon stock to break 35. LOOK for big NEWS!