It's done and over with ~ 200 heads.
A lot less than anticipated and no re-org to mention after the dust settled. Likely more to come in the coming months, etc. Prepare the asset base for a packaged sale, etc. Rinse and repeat of what was done with the dry gas assets in CDN previously most likely.
It isn't over and will never be over unless world war III breaks out and commodities surge to historically high levels, etc.
The fossil fuels wave is over and making way for renewable energy, etc...
Any news about layoffs today?
OKC - The layoff number will be under 200 this time. It's coming 10/29 and there will be folks in OKC getting layoff on Thursday. Bye Bye and have a miserable Christmas. No holiday bonus fD
Before posting losses lets cut 20% of OKC. I am ready to go if they think i am not competent. New hires must go asap.
Good luck tomorrow boys!
let the downsizing game begins
any layoffs yet?
185335 who is your source for Tuesday being the day?
Retain the old staff, reduce the boomlings.
Termination Tuesday ! Storm is coming.
So when it this actually going to happen? The waiting is painful.
If stock price doesn't do something and move above $75 - $80 a share or higher than the 2 year curve then a merger or acquisition is in order. Stock price has remained flat even during the $100+ oil heyday. Laying off several hundred people or more might save some capital but it won't move the stock needle...
Quick reduction is needed in OKC to keep us profitable. Trim off the boom staff.
Don't forget to bring in a bag so you can take your stuff home with you today.
Oklahoma City Devon offices will see a few gone along with the Canadian Division. They're more connected than you think.
30% in OKC would be over 1000 people. They announced the layoffs in Canada that are coming next week. Would that not hold true for the US?
So they told you in advance they are laying you off??
OK guys. It's coming to an office near you as well. OKC will be cutting head count by 30%. I know for a fact the PMO is loosing 23 people and 1 supervisor. I know I'm on the list. Get your stuff in order and be prepared. The longer you have been at Devon the better chance you will be cut.
It's posted on Strata
— Anonymous183241
Kind of hard to post the email since Devon tracks every email very well. They can track who has received, read, deleted, saved, filed, archived, forwarded and copied an email. Next week is the doom days there. All travel has been cancelled for everyone. Shows the different style of leadership from last time. There is going to be a lot of good people impacted on this go around.
You know guys you are anonymous...any chance when you post this crap you could maybe put a link into the article so we can actually believe you might know something?
It is true. Saw the email that people are referring to from a long term employee (10+ years). Every department is going to get hit.
Devon is handling this way different than last time where they just went to a 4 day paid work week. Instead it is cut the head count.
It's true the article just hit the website.
It's true the article just hit the website.
Prove it. I'm sure my friends in okc would of heard that by now. Word travels extremely fast.
us "losers" who actually work for the company got the email
This same post appeared last month and the month prior. Grow up losers. I'm sure if Canada was laying people off in an "email blast" that email would already be on the Internet (as every company layoff email is).
No one is saying but Cenovus has let go 20% this year... probably close.
It was a bit of a surprise today to receive an email blast from the Canadian President announcing additional layoffs before Oct 31 - we just went through a batch about 30 days ago and my manager thought we were good until year end. No wonder he has been so quiet the last few days. The only suspicious thing is the timing - RSU's are set to mature on Nov29th and many will lose these if Devon isn't nice and vest early. I have more for Feb 10 which will be lost too. So much for motivation to retain your best.... fingers crossed...
Calgary head office and field
How many people? Where?