It will happen. They'll make the announcement next week. They're are a lot of things going on behind the top floor office doors. IT will take the large cut , projects will stop unless they can save money this year. Don't count on bonuses and expect dire news next week.
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Trolls or not - we all know something will happen with oil under $30.
This is stupid no one gets laid off on Friday. Half the company is off work. You obviously do not work for Devon so please stfu
If this is true I would start looking for Devon to hire a hatchet man. Start looking for an executive hire brought into cut staff. G&A is literally 80% cost for Most oil and gas companies. There will be a lot of groups that will be on the bubble not just IT. Cutting from non IT groups will save more money than IT. One sr petroleum engineer literally cost 4 sr. IT staff. Big cuts from IT would not be enough to get close to the 30% people are projecting. If you e&p projects why bother keeping the most expensive of the G&A cost around. Answer? You don't. With so many people in the industry out of work if the industry does turn around you can find people to hire at a bargain price. Good luck to everyone. I really hope this is all just BS coming from trolls.
Whatever. I know for a fact that bonuses are happening this year. They are not full bonuses but they are much better than expected. I am always amazed that people take so much joy in being assholes
I heard, today, cuts of about 30%. Targeting "mature" staff.
Question: Is it "age discrimination" when they target older staff?
Layoffs already happening. With WTI at $30, company can't cover LOE and have to lower G&A by staff cuts.
Lies lies lies