I'm a recent new hire and now I'm feeling like a total piece of crap for believing mgmt lies about a new turnaround. Should I be worried or not considering they just hired me? Or does that mean I'm safe? Freaking out right now.
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Tenure does matter when making cuts - people that have been there longer have better retirement plans. People hired prior to 2011 get higher contributions to their 401k than people hired after. If you are someone that took the increased 401k contributions instead of the pension in the mid-2000's then you should be worried if your annual contributions are at 12% or 16% vs the 8% that new hires get permanently.
Old first, new first, doesn't matter. We're all losing our jobs eventually. Crude is not coming back this year. It may rally a little, go as high as $50 for a while even. This is the new normal. $100 oil is dead.
I agree. Buyouts for those closer to retirement will be the next step.
No hiring freeze, I was hired 5 months ago. They won't let people go by tenure with the company but by contribution. Besides why fire the new employees? They are probably 3 for the price of one of the guys that are about to retire... Look for buying out of people about to retire before letting go new employees
Boom time seedlings should be uprooted asap!
The current plan is to have everyone who has been with the company less than two years gone by March 31st.
That's crap because I know for a fact accounting and IT are both hiring right now. Hiring freeze my ass...these two departments may be the only safe ones for the next few months. You must be in the land department and are probably shitting yourself every morning you wake up waiting on the axe to fall. No where to go like a cornered rat on a sinking ship.
Depends how close you are to the wellhead....
You're a liar. Devon has been on a hiring freeze for over 6 months.
Be afraid, very afraid.
I think a lot of it depends on what your job is at Devon. No one should consider themselves safe at Devon currently. I never did and I was right.
I think a lot of it depends on what your particular job is at Devon. I think no one should really consider themselves safe at Devon. I know that I never did and I was right.
You should have been let go already. Didn't you get the memo?