Layoffs generally are expected while an industry is contracting, but the recent cuts have occurred after oil prices surged more than 50 percent over the last half of 2017 and as most energy producers have swung to profitability.
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They spent a great deal of funds on this azure cloud kick that they're on and it's costing much more than they were lead to believe. The technical folks that know how this all really works tried to tell the upper management but they didn't listen. This is the result of these types of endeavors. Non technical folks making decisions on a technical level often end in disaster.
whoever said buying eagle ford was a good idea? need to put his picture on the wall.
whoever said buying stack was a great idea? need to give him an award.
we're losing our jobs because of those deals and the massive debt! devon should be profitable at $60 oil, the stock price should be higher...but NO, because of the massive debt.
haha so funny. the EHS group is a joke. they call themselves "professionals" but so many of them don't have formal education. they got jobs because they know somebody, or got hurt as an operator.
if devon wasn't this big OSHA would've wiped them out by now.