Oil & Gas Stocks have been taking it on the chin since the beginning of the year. DVN was at $32 on December 31st. Right now it's about $21.28. That's a third of the value of the company gone in less than three weeks. Dear God in Heaven, how much more of this can we take? WTI is down below $28, with no sign of recovery on the horizon. I'm torn between giving up and looking for a new industry, and hoping that when I do get laid off, I get some kind of severance. My blood pressure is up. I have very little appetite. I'm not sleeping much. How do you all cope? Please no trolls, I'm just not in the mood.
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It happened to me as well. It will all be okay. Like the prior post mentioned get your financials in order, start updating your resume and build the network. There is life after Devon and the price of oil will rebound. Devon does take care of you during a layoff with a severance, transition services and employee assistance. Seek out the EAP and take care of your health first and foremost. Life is too short to stress about the price of oil. There are lots of jobs out there still. It may not be in oil and gas but other industries are doing okay. If you are a engineer look to renewable energy companies.
Don't worry. I was laid off last month with a nice severance package. I am having the time of my life. It is an amazing experience. Right now, you need to get control of your financial affairs. Once you have a plan on how you will handle a layoff, the better you will feel. Best of luck to you!!