Thread regarding Devon Energy Corp. layoffs

Devon is like watching a bad gambler

Devon right now is like watching a bad gambler chase after losses.

Spend 4.5B for assets instead of holding on to cash

Hire new executives in the midst of a layoff and grant huge stock payouts to executives to ensure the golden parachute opens when it crumbles

Continue to build a tower. (Devon will say it's not theirs but technically the only reason it's being built is based on the promise of Devon occupying the majority of it. Talk about expensive warehousing. Hell even OG&E halted their project knowing things were headed the wrong direction.

Add to that, There is an abundance of poor leadership on all areas. It's watching someone continue to try and break even at the roulette wheel.

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| 2891 views | | 8 replies (last February 13, 2016) | Reply
Post ID: @OP+FU0WJio

8 replies (most recent on top)

good post. Core values has only gotten lip service for several years now, its time we took them seriously.

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Post ID: @1ikh+FU0WJio

Someone earlier said "Stop acting like a bunch of entitled bitches." This is very much an issue I see with the younger less experienced crowd. Not all but quite a few. I say this with the full understanding that I was exactly like them when I was their age before life got the chance to kick my ass a few times and I had to grow up. Most young people will take this as a slight, but please don't. You to in 40 years will be in the exact same position some of us are in at this moment. The older people can speak to this because we have been in your situation (young and entitled) but you have never been in our situation. You will be eventualy and when you are please try to look at the entitled people with some grace and understanding. You after all will have gathered some wisdom and they of course will still be kids. Try to remember that just because they graduated from school with a degree that does not make them an adult. Devon has been a terrific company for a very long time. It will make it through this hard time and it will grow again. I know it is hard deal with some of the things that are happening right now in our lives, but try to be supportive of each other even those entitled souls that have yet to grow up. For those older people like myself, we need to make a real effort to hep develop our talented young employees into good people and not just well paid employees. I blame our hyper focus on everything but our core values for why the entitlement mentality has flourished. That will all be ending soon enough.

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Post ID: @1xga+FU0WJio

Its easy for all you piss ants to play monday morning qb. I bet 99.9% of you dipshit$ have never run a business. You dont put up any of your own $$ and risk losing everything. Stop acting like a bunch of entitled bitches. Devon is not perfect, but its one of the best places to work in the country, and has done a lot for this state.

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Post ID: @1gwx+FU0WJio

There's some real idiots on here. You think Devon is better off with assets that don't compete at 35/bbl than with assets that do? Planning for 3-6 years at a time. And cleaning house was going to happen regardless of anything you mentioned. A purge of the weak is needed.

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Post ID: @wtx+FU0WJio

They can't just stop building the new tower. It would cost about as much in penalties to stop building as to build. Companies hired to do this protect themselves in the contracts.

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Post ID: @gzo+FU0WJio

I hope the Felix acreage goes belly up. No rigs to drill it. Pissed away thousands of jobs and 4.5 in cash.

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Post ID: @vcv+FU0WJio

That Devon Tower looks like a chisel, or maybe a modern representation of Devil's Tower in WY.

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Post ID: @vze+FU0WJio

Yep business as usual. Everyone in the inner circle grossly awarded for a job well done. Stock is in the toilet, bad decisions, etc. Why they didn't spread the LTI love for the employees on the sinking ship remains a mystery. - http://www.marketwatch.com/investing/stock/dvn/insideractions -

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Post ID: @osw+FU0WJio

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