Bad timing as always, Williams is always behind the curve. CHK stock has recovered and OPEC is coming to terms. The bust is over and a recovery is on the way, why would Williams be cutting back at this tine, certainly not due to market conditions, more likely bad management.
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Tulsa people - do not fool yourselves into thinking the 400 people in OKC ever wanted to be part of Williams in the first place. If it weren't Williams' desperate need for our excellent profit margin to make up for inefficiencies due to its exceedingly poor management then none of us would be facing this scenario. Williams is a sinking ship and it will be no time at all before it is subject to another hostile takeover attempt.
Of course they are behind the curve, natural gas hit 3.7 today, they where planning for much less than 3.0 for several years. Better lucky than good.
Some to H-town and some to salt lake? That's just what slc needs, more people.
Agreed! They hired way too many people after the merger. Unfortunately they need to make adjustments.
They told us today that not all 400 will be moved. Some are declining offers so they can stay in Oklahoma City, others will simply be severed because there isn't a role. Some are being told their job will be in Houston or Salt Lake. It's a good way to reduce headcount which is still way too high for the present level of work.
It seems like they want people to quit, that is what these big companies do, when they shuffle people around from location to another. Easy way to get the head count down.
Really? They are going to move 400 jobs from OKC to Tulsa after you laid off 300 people back in March/April? And Bynum says this is great for Tulsa's economy?! How about you hire back those people you laid off rather than paying to move 400 people to Tulsa from OKC?! Unbelievable. I am so disappointed in the decisions Williams is and has been making. You took such a great company and now your just shredding it. I am so sad about this.
The price of stock is huge for Chk and as well for Williams, not understanding that shows complete lack of understanding of how to raise capital and run a buisness.
One of the best business models is to have a small corporate headquarters and let the various operations thrive, too much interference from a remote location does not work well. How much does it really cost to rent space in okc vs Tulsa, don't see the savings.
Reduction in head count may be necessary and some consolidation of functions that always makes sense, but not loading up at the corporate headquarters.
Buisness 101, the closer to a key customer the better!
Closing OKC office wasn't a decision based on CHK stock. Last time I checked, the phones still work in OK and OKC is a hundred miles from Tulsa. I suspect Doug Lawler has other things on hisn mind than how close by Williams is...