Here is where and what will happen. BU managers with top paid will be revised and released. All embedded PM will be disengaged. All DPMM under MSanders will be wiped out since 90% of their contribution will be useless, most of their works were duplicated and copied from other oil firm and their staffs with no oil field experience. All strategic group will be cut minimum 50%. IT group will be out 75% only core group remained. 50% HR personnel will be gone and target to talent acquisition, no recruiting needed for time being. Land will be reduced to 75%, no land development needed. All drilling staffs will be reduced at least 40% due to rigs reduction of 40% or more. Training will be less than 20% since no new hiring. A few BU VP and DM and Supervisors have the same fate, most of those BU staffs with very high paid, salary package between $300k to over $1m, are definitely smart cuts. All of the Program Execution Plan and Projects are on hold, Anadarko, Midland, New Mexico, South Texas, North Texas, Mississipi, Delaware. All of the remoted staffs will be reduced to at least 50%. Similar to Cheasapeake, 750 staffs will be laid off on first round, 450 will be on second round. This action will save company approximately $400 million until oil will come back to minimum $75 a barrel.
7 replies (most recent on top)
MSanders is starting the bad luck for Devon. SKrueger, your politics arent working. As long as Sanders is gone to wherever he will be. Please do not be a reference to this loser, he will continue to cause damages to other oil company. We are all surprise how Devon made very reckless decision. DPMM was and is upsetting our core values. Regardless, Carl and all CI guys warned Sanders but this idiot is continuing to play politics. Fire Sanders today.
From the existing defense contractor, I feel Devon is a worthess company. I am working for an absurd manager in DPMM. He continues to point everyone in the wrong direction. I will head South and back to home very soon.
Good luck OKC and Thunder...
John Richels was too easy with his subordinates, as a result, the cat not home, the mice will play. All projecy managers and below are treated second class citizens. MSanders and SKrueger, evil twin must leave to ease about a million dollars a year. That money can be sent to help funds for scholarship program.
There is a boatload of discounted RVs for sale right now. Buy one and you can live in it in your driveway long after the foreclosure. Just keep the electricity on in your home and dig a good sized hole in the backyard for blackwater.
Massive layoffs are going to happen anywhere between tomorrow to Monday, mark my words. Layoffs will then continue on throughout the year. I'm hoping I make the first round instead of continuing to wonder when the next one will be. This waiting game sucks and I feel they could have went about this whole thing a lot better than they are.
To the person below, a lot management will absolutely get cut. I
Listen, they most likely will not layoff managers, it will be the minions who get the boot. You need to accept that.
The most pointless DD I've ever read...