Why lay off so many dedicated, lower paying positions and keep most of the over paid management? They still haven't figured it out. New leadership failed just like the previous. We could have saved twice as much with a smaller headcount.
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I too would have made some different personnel decisions, but I think it is really in poor taste to call out individuals on this message board. I also think a lot of the finger-pointing here really shows the ignorance of the poster. To say that HR or IT or Accounting don't contribute shows a complete lack of business knowledge. These support organizations serve vitally important functions and are staffed with hard working and knowledgeable proffesionals (for the most part). No company of size could survive without any one of these organizations.
It gets down to who the execs trust and not who does the work. Remains to be seen whether a former Noble co engineer now CEO can garner support through his decisions. Enough with all the phony praise and high fives to each other these guys have done over the last few years. The conference calls have been like Howdy Doody time. Too many capable leaders out there that could take this over and do it right......even in this low price environment.
There were some very good people let go. But there are also some very good people left, who need to focus on the things that will help Denbury survive. Worrying about the ones who are left that you don't think "measure up" isn't going to help. I've found that people who aren't thought of as "the best to remain" by "popular vote" usually have talents that haven't been fully appreciated by many yet. Now is the time to help find and focus those talents on the task at hand: survival of the company.
Don't be a hero. Don't have an ego. Always question yourself and your ability. Don't ever feel that you are very good. The second you do, you are done.
Yup, incompetence promotes incompetence.
An example of incompetence. DNR has several people like that in positions of authority.
Having Managers demoted to technical positions is the dumbest thing the higher ups could have done. Congrats, you now have employees working technical assignments who no longer remember how to do the work and whose salary is more than the price of three low level highly knowledgeable workers. I'm not sure how a company can justify this decision as having the highest value.
They say "it's not personal; just business" yet constantly make unintelligent business decisions. RIP denbury.
Good efficient folks were let go. Did the CIO still survive? how does he contribute to Oil production? Shame shame shame management for persisting with him if he's still around.
DNR is a case study for mismanagement. Sad!
Agree 100% with the last few posts. They keep cutting the base and we are now even more top heavy than before.
I agree with you and was hoping CK would cut a few VP's. They are way too top heavy. A company this size does not need a CIO pulling down 500K plus per year.
A good illustration of this point is my 17 year old son' s reaction when I laid off in Feb, 2016. He was disappointed that I lost my job but astounded that they laid off a receptionist.
It probably doesn't help much, but I know of at least three managers who were laid off, and at least four that were demoted (three back to being just technical staff, one to a lower level of management).
Well said my friend. Absolutely absurd way of letting people go. I know some amazing folks who worked day in and out for the past so many years were let go. Upper management, not all, but there are a few who don't contribute nothing are still around.
How is the morale with people now? Trust with existing management? Better start looking for opportunities and get the heck out.