Enjoy the holiday - Changes coming on 9/8 to drive the cashflow and drive up the stock price. Could be significant layoffs and restructuring.
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145893: Marathon, Continental, and Sandridge cut jobs in Q1.
Devon is always worried about their image first, more so than anything else. This includes "Image over truth" (Reorg not layoffs). While we know layoffs are coming across the board for energy companies. Because of their (Devons) image concern - they will not be one of the first majors in Oklahoma city to announce layoffs. In theory, I believe they will let CHK announce layoffs then immediately announce their plan. I also know their track record for finding a way to "Reorg" the older workers and keeping the younger ones as a cost savings. I feel for everyone in the energy sector right now. We are all a little nervous... Especially if you're at the 45 year plus mark and you have been with the company for a while. Our only hope is a quick outbreak of war in the middle east to drive oil prices up. Short of that, it's hang on for the ride. I have been practicing my 'guess your weight' for the Oklahoma state fair. Sure hope I get the job.
Which groups are being affected?
COP
ConocoPhillips cut 1500? Or Devon?
They cut 1500 jobs in Q1 2015, did any of the Oklahoma companies follow suit?
ConocoPhillips laying off 10% so if a big major does it others follow suit
Source?