I'm confused as to why some hard working, loyal employees were Layed off but others took their positions? Also, why are people getting a bonus, not to mention some getting raises? This sounds like politics to me. Someone wanted to have more control so they let some great guys go so they could get it. It's extremely sickening. They spent lots of time away from their families, turned down other jobs because they were truly loyal to this company. Guess this company wasn't near as loyal to them as they were to it. You let some great guys go. I hope the best for all of them.
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Have a lot of friends that worked there and a few that still do. One big problem with chaparral, water floods and other secondary recovery projects aren't commercial and won't be for quite some time.
I think the logic they are using is to miss the bond payment and mention the possibility of bankruptcy. If they file for bankruptcy the bond holders are left with nothing anyway, so they won't be pushing for bankruptcy This buys them some time to deal with banks on the loans as well as current bond holders to accept an exchange deal foregoing interest payments for a while. If they can't work it out, then file....
Everyone in the field got bonuses
I doubt they would allowed to give bonuses to anyone if they were in bankruptcy, which it sounds like they are headed. So the top guys are getting the money, or should I say "borrowed money", while the getting is good! Why did CCMP allow this?
They got 5 guys at Shidler
Who got let go this time?
Has anyone approached an attorney to find out if those laid off have a right to the 2015 performance bonus that they did not receive? I'm curious about litigation. I know the executives that were let go received their bonus.
Maybe the bonus was paid out because when the company goes bankrupt here in a few months there won't be a severance for those left behind.
@5fqm - understandable to do what needs to be done. You just don't layoff 50 people and then pay bonuses at 90 freaking percent. It's not right and a huge slap in the face to the people let go. The bonus payout could have easily saved most if not all of those jobs. Or they should have given everyone laid off their part like they did last year. I basically would have been better off being laid off last year. Better severance and they got their bonus.
It's the Circle of the Oil & Gas life. We're in a downturn guys, there WILL BE an upturn again. When you choose to work in this Industry - you take the risk of going through a bust. Chaparral, Chesapeake, Devon, etc. all have to do what they must in order to keep the company running.... so would you rather see the company fold? I wouldn't, and I still pray for Chaparral Energy and the Oil & Gas Industry period. Hopefully it will bounce back sooner than later so that people can get back to work. Being bitter about it helps no one. And if you can't stand the bust then it's best to stay out of the "Industry".
The fact of the matter is that in the past couple of months the company is to put it kindly "cutting out the cancer". There was one or two casualties that were due to someone's ego for sure. Most of the guys that say they want to work together just miss their little circle jerks every morning. Wasn't a lot of so called "hard work and dedication" going on, but then again they are so full of theirselves they actually believe the sh-- they post on here.
All respect for them is now gone.
I think that has been the hardest for our family. Thinking that we were employed through one of the best companies that truly cared about their employees.... to the exact opposite. I hope whoever made these decisions can sleep at night. I sure wouldn't be able to if I were them. Past 2.5 years went downhill fast! I hope these guys can work together again and have an employer who appreciates their hard work and true dedication.
Wow. What an insult to those of us who worked hard to not receive our bonus like those who were laid off last year did.
Agreed. Nasty slap in the face to pay out bonuses at that level after a layoff. Bonuses from the executives would have easily covered the salaries of the ones let go. I worked my butt off last year and get nothing. My boss who did nothing continues to sit there and do nothing. Last year they gave the layoffs their bonus. They owe us ours!
I think it's pretty sh--ty that the people that are still employed got a bonus. I gave 10+ years to this company and was laid off with a mediocre severance. So much for loyalty... I always thought Mark Fischer was a great leader. But now I question his leadership.