To all of the Devonites, if you don't think a layoff will happen don't kid yourself it will. So save your money! It will happen by the end of Q1. I used to work there and my friends who still do have told me of looming asset sales, re orgs and "moves" (Devon is famous for those am I right?). Keep your foot on the gas and keep churning that butter. The rig monster must be fed. Seems like February 2016 All over again. Soo corporate.
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“Got rid of the waste, marginal employees and the old farts”? Wow - you must be delusional. More experience and talent walked out those doors than you will ever muster up! Keep feeding those blown up egos. You might be surprised to learn that people out in the real world probably won’t think that highly of you if you hit the pavement looking for a new job!
May not be complete BS
I’m hearing some of the same echoes regarding a major reorganization by end of Q1. Close friend is interviewing at Devon and he has been put on hold. Something is brewing. You can tell by the way HR acts and senior leadership, they know and it is showing.
Your glad all the old farts are gone...the old farts are the ones that made Devon the great company it was. That is until Larry Nichols left. Then they started hiring everyone that walked in the door until they put themselves in a bad position.
Yes the old farts are gone and they laughed all the way to the bank.
To all those calling BS- it’s not. There were 250 people quietly laid off in 2017, and accounting has already been hit in 2018 with managers and supervisors saying plenty more to come. It may not be as big as the 2016 layoffs...but will be sizeable.
Didn’t the Mitchell guys unlock it? Not Devon? I dunno did I miss something. My old memory might be failing me.
Glad those old farts are gone, are ya? Well it was alot of those old farts that developed a lot of the horizontal technology, maximizing the assets from the Mitchell acquisition. That helped spawn the shale drilling revolution in the USA. Get an education. Devon deserves better than your discriminatory attitude.
Could be worse... we could be Chesapeake
Just hope the package is as sweet as it was in 2016.
Look everyone, Things at Devon are really good, better than ever. We work hard, but we are paid well. I'm glad to still be here and plan to stay. There are no more layoffs planned. It is going to be okay. Our management is solid and making excellent decisions. The doom and gloom left us 2 years ago when we got rid of the waste and the employees that were marginal. We now have the cream of the crop. The old farts are all gone thank god! Devon rocks.
Interesting comments. Not sure what will happen. Lots of employees that are not essential. So much excess at Devon tower. Its gleam is dimming quickly.
I don't know the amount and timing but seems logical when you consider the push for intelligent automation and the cost of the consultants. Big promises of future cost savings sold that bill.
Total BS
Devon will cut G&A by $50,000,000/year for each of the next five years. One way or another.
Complete bs
Calling BS...