Thread regarding Southwestern Energy Co. layoffs

So true with realistic price deck for Henry Hub Nymex and clarification of true price differentials and use of them..NOTHING TO BE DRILLED @ SWN. Relevancy has disappeared.

Bill Way strings together dime store business lingo to obsure a complete and total lack of business acumen and knowledge .

SWN Is not relevant in the industry or on the investor markets — I would say tier 3 company.

There will be layoffs because each day those still there should be able to do more and there are no more assets .

Slide deck quote location left starting at 3$ .. let’s see what $2.5/ $2.75 / $3

I’m unclear at these prices why any rigs are running — which results in need for fewer people

"Among nat gas E&P companies, Morgan Stanley says Cabot Oil & Gas (NYSE:COG) is its top stock pick while Gulfport Energy (NASDAQ:GPOR) and Southwestern Energy (NYSE:SWN) are its least preferred names."

“...we are driving material shareholder value and positioning ourselves for additional value creation in 2018 and beyond."

— Bill Way, October earnings release

The market says BS. You are full of it Way!! You are a shyster and snake oil salesmen. SWN employees and shareholders need someone who knows what they are doing and both deserve more.

Layoffs don't come without a big price tag. If you assume 60 days pay to honor WARN laws for each employee who is let go, then two weeks for every year of service for each employee who is let go, that's a big chunk of money for employees that will be doing absolutely no work the next few months. With that comes the morale blow to the employees who are still around, being understaffed IF things get turned around, along with the stigma that will follow the company for repeated large scale downsizing. Not saying it won't end up being the path SWN takes, but it's not as simple of a solution some seem to think.

My guess is they'll keep people around for the time being. The suits and executives will work to divest assets to people/companies they are connected with, maybe even acquire small assets from people/companies who they are connected to. After SWN bleeds a slow death through divestitures, the suits slowly be rewarded with new positions at different companies, by the people they are connected with, that capitalized on the divestitures of SWN assets. Book it.

New stock lows today not seen since 2004. Layoffs ONLY solution at this point.

There are other ways to cut costs, but that requires time, research, and intelligence. Much easier to just layoff.

Has anyone heard guidance for 2018 involving active rigs and planned wells to be drilled and completed. Last mention by company that we are not putting out 2018 guidance until February. Watching gas prices weaken as production keeps declining.

—- and if you cut drilling and completion.. you neeed less people.. your sentiment of undermanned is not shared around company ... still lots of excess around company.

It is a death spiral

I understand it’s a layoff board. But for God’s sake there’s other ways to cut capital other than laying people off. Lay off 200 people and that saves 40 million and that’s probably absurdly high for that. Some departments are way undermanned. If capital needs to be cut, it will be cut in drilling and completions.

The SS Minnow comes to mind with Gilligan at the helm on 5.

I always like to envision that the Board has employees and shareholders interests at heart. Instead, they are aloof and asleep at best. We are going nowhere and soon the only solution that Gilligan can think of will be to cut costs (people) because he can’t figure anything else out. He’s a colossal failure. He and Board are only interested in protecting their gravy train over all else.

The SWNtanic is starting to see the water rise, even though the iceberg was hit long ago. The CCS band is playing on the top deck and handing out yogurt for everyone and they’ve added a member to their crew. Get in a life boat, quick!

For those of us left...we're in deep trouble!!! SWN is a sinking ship.

Shows you the level we have sunk to when he is the best we can attract. Job search had been going on for 2 years. Way (and unfortunately SWN with him at the wheel) is a pariah.

SO RIGHT!!! KICKED OUT OF EP ENERGY

https://exechange.com/9670/ep-energy-ceo-brent-smolik-leaves-2

At EP formerly. El Paso ... the entire management team was removed by a major investor including your new coo .. because they had so demolished value .... investment firm Apollo.

This has to kill any career hopes left — everyone stuck in position with proven mediocrity above in the heirarchy .. even hot shot “young” general managers have just been kicked in the face

All the “grooming” and leadership development and bring a proven loser in from outside to a top position. It would be almost identical to the aggies bringing in - Dennis Francionne after firing sumlin.

Also experience at swn is little valued in industry ... tier 3 company, no development - leadership or technical and show lack of ambition if you stay

Gasoline on a fire

Seems like a lot added to expenses which does nothing to help financials or improve position as regards gas prices.

SWN needs more C-suites, they've always ran a lean management team.