Thread regarding Devon Energy Corp. layoffs

So totally agree. The "newer female employees" come to work in, I swear, Victoria Secret attire. Not much of anything that is approved in the "handbook". A lot of time spent down at Illy, for coffee or whatever it is that is so delicious. Watching the employees coming into the building in the morning, won't see much if any grey haired individuals, or an individual with a handicap. Not the Devon Standard. Why would you have handicap parking on every floor of the parking garage but NO handicap doors to help them to the elevators? Brain fart. Devons Executives live in a internet cloud, no idea how they got there or how they can get out. BAAHAAA

they could sell golden goose cash cow canada for far more than $5billion (and tell wall street, "hey! we beat expectations for once!")

they could sell eagle ford for more than $5billion (yes it'll lose money, but they can say, "hey! we met our $5bill target! we cut losses! great management!")

they could lay another 50% of company off, bear bones and cut high speed internet. i'm betting on all 3. and btw, so will the buyers, and they'll hunt for bargains. so you won't make money.

No.

Devon Canada could probably be sold for $5b and doesn’t really fit in with the rest of the business, just saying.

They bought the tower as a poison pill. Nobody will ever acquire Devon because of the eye of Sauron. They wanted to be the ones doing the acquisitions and had they not royally f’ed up the production forecasts to investors might have been in a decent position to do so in the coming quarters. Bad decisions bit them in the a--.

Good questions, After the 2016 hit Devon staff is already down 30%+. I don't know that a 10% sell off of the lowers value wells will give the increased cash flow Devon is seeking. Their business model of acquiring and producing existing fields doesn't match their current staffing. By that I mean they have a staff with exploration ability, but only need enough staff to produce. It was a huge error on their part in their hiring over the past 10 years. Seems a lot of their hires were made to "keep up with the Jones" if you know what I mean. Devon seems confused that it's stock price did not rise along with oil prices. Bit of a panic led to this maybe.

(full disclosure, I was let go in 2016, and have moved on (different state, industry, but still oil and gas). I know this hurts. Don't give up - opportunities will come).

The tower being half empty has to be an embarrassment. Not sure who in OKC would buy/lease that volume of space. Another company would have to move their HQ there. Maybe Devon should have called Amazon...