Devon use to shine like a diamond in a goats **s. The diamond was gone many days back, only now manifested by this wave of jobs lost.
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Today was just the tip. 3 days of hell start tomorrow. They can't get it all done in one day.
It's got be deep or Devon won't pull through. Execs let an employment free for all happen over the last couple of years instead of tightening the purse strings and hanging on to some of the cash. I hate for people to lose their jobs but why did Frank let Tina hire so many "talent management" folks? The real talent at the company doesn't have to be managed or fill out IDPs! It was a way of those people building a career foe themselves and now what? Let's get back to basics - exploring for, developing and producing oil and gas.
I think that includes field people. Not sure about contractors.
How can so many be axed in just one day ? Or it would it be during several days of continuing torture ?
My sources say even more than that, if you include field guys and contractors. Bloody managers might be spared.
Unfortunately I think we will find out tomorrow. Hope this is incorrect!
That's about 28% of the workforce!! That would be a historic layoff mate. (assuming a 6000 headcount). Can you backup your claim ?