So far we know accounting got hit hard today. Anything else?
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lol @ widetrack. after your new guy from Continental gets there he'll do his own cuts. give it about 90 days from when he arrived. you'll see...
when does IT get chopped?
Oh WOW! 37% in G&G and not 40. I’m so relieved.
37% in G&G. Not 40.
This will be unpopular, but accounting needed to be culled down. Outside of general assurance, there were team(s) based on analysis of assurance. By that, I mean outside the scope of a normal tie out & more for internal reporting. The initial effort towards staff/comp reductions at the granular levels has resulted in poor data integrity which they're then spending high dollars to analyze trash.
AKA, pay your "doers" poorly and pay mid level management "reviewers" more than needed, get the results you expect. For a company that likes to tout it's "tight accrual process", the disparity to actuals is hilariously inaccurate. I hope for your shareholders, that the dump the pretty ones and keep the people actually doing the work.
Field still getting hit...taking out the people that keep the lights on. Super smart!
How many in accounting?
40% gg? Is that confirmed??
40% g&g
E&P