Now that the latest round of layoffs is done, does this mean those of us who are still employed can relax for a while?
I haven't seen any rumors that extended past this week, so I am starting to get a bit hopeful about it. It would be nice to not think about layoffs all the time for a while.
They need to trim some exec fat. head of HR maybe.
Next layoff being planned by close of 2018. Pucker up for another 6 months. Not done trimming the fat of mamangement and excess staff who are pure overheard and add nothing to bottom line. It’s business
Agreed about middle management. But let's make it simple. Start w the VPs. Their salaries are anchors to our overhead. Then look really hard at the managers. Too many of them. For departments, how about trimming the fat in HR, accounting and land. Don't forget about the marketing and PR/government folks. They make a lot of money that doesn't help us drill and complete better wells. At the end of the day, we need more production to pay the bills.
Lol hard decisions?! There is an entire level of middle management that can be taken out tomorrow with no loss in productivity. How many reservoir engineers does it take to continue to replan an already planned out drilling program limited by capital? How many drilling and completions engineers to carry it out?
What non-essential people do you suggest? I agree that we are still too fat. Some hard decisions to be made.
Safe? Expect another layoff by the end of 18 or beginning of 19. Still too much overhead. More fat needs to be trimmed. SWN needs to get mean and lean. Cut the non-essential people. The only way to survive with the lower gas prices which are here to stay.
At this point the only people who own stock are the employees. When you get your annual meeting notification in the mail where you vote for officers be sure and reject Bill Way. There are power in #s!
I haven’t gotten a good count yet, but I know there were some movement into what will be the 2 remaining divisions from corporate development in Houston. I feel we were over staffed before, so I just don’t know what everyone will do .
Fayetteville staff , at least in Houston .. will certainly not be with swn ... I would think by now anyone Way wanted to keep would be moved to the surviving divisions , and that’s assuming we don’t shrink to one division .
Way is consulting his magic eight ball, he will have an answer for you shortly.
It depends largely on how many current employees go with acquirer of Fayetteville assets.
How is the stock price going to change when these layoffs didn’t change anything about why the company is in a death spiral. Until we get some leaders who can lead, nothing will change.
After townhall heard a leader say one can be expected by year end. So we are not done
Well, in the summer of 2015 was the first set of layoffs and then it happened again in January 2016 just a few months later. So there are no guarantees. If stock prices drop lower, shareholders will not be happy. That would mean more layoffs if they have no other means of raising the stock price.