i’m hearing June 7th.
1) it is a end of pay period Thursday
2) interns will be away
Any thoughts?
Is the FAY seloff ready?
21 replies (most recent on top)
The first phase has begun --- the mass VP exodus. Today was the first salvo with the 'retirement' of James Vick and realignment of BIS under Jenny McCauley. Expect more VPs will announce over the next couple weeks. Realigned organizations will then be clipped. Way told us that when he said "the realignment will be completed by August 1st". Layoff prediction: July 19th.
Sh--s coming soon....
So clearly we are going to do this every week or two , until something happens!
There seems to be no real news, no real rumors,
Whew! Getting a paycheck for at least 1 more week! Thank you God!
June 7th is the new doomsday (rumored) so for now we can all relax, go see Solo, hang out at Galveston and see the once in a hundred years clear ocean while it's still there.
I'm going to take my $10.00 and buy some SWN stock!
I don’t think it’s happenin today. I seen a previous message and the rumors out here in the field is that it was on June 7rd. Plus Company man havin a safety stand down that mornin. Well see if HSE shows up this time.
Is it really happening today? Or just more bs posts.
A coworker in the northeast said yup. A few let go. What about fayitville? thanks
Is it happening today? I faked an illness and called in sick, but my Supervisor never responded. I thought for sure it was happening.
I believe there were about 2750 prevlayoff 2016 and 1100 laid off — leavingn1650 ; if a correct comparison , actually lost a few more .
Hello Appalachia worker!!! LOL
What was the employee head count before the 2016 layoffs? Wasn't it about the same what it is today? So in 2 years time, SWN grew right back to where it was before without really growing the company, just the head count. Brilliant management team!
Nice point ... if successful with a sale of Fayetteville, however then we would be about 2/3 size of range and thus roughly equivalent employee count .. my take is around 550 people.
A successful Swn then would be about 1/3 of current headcount and. Appalachia only company .
Lots of pain and change ahead
Fayetteville sale would probably put us not too far from those numbers.
Seems about right, numbers wise. Our bloated ELT is about the same ratio as well! At least a couple of ours (lookin at you JO6) would be chalked up as incompetent non needle movers with a ticket straight to “special projects”.
Using our heads, not just on date but how many .. Here are some data point
RANGE RESOURCES
Market Cap $3.8 Billion
Proved Reserves 15 TCF
Production 2.1 BCF/d ( mostly Appalachia)
773 Employees
SOUTHWESTERN
Market Cap $2.7 Billion
Proved Reserves 14.8 TCF
Production 2.4 BCF/d ( Appalachia)
1575 Employees
Data from recent annual reports ( employee count as of 1-1-18 ) and recent investor presentations
SWN has almost double the people of a similar company. Maybe this is a piece of information the interns could use.
June 7th sounds about right. Interns will all be off site so thats a good reason to do it that day. Dont want them to get to experience that now would you. Plus end of the pay period. Sounds reasonable. Either then or the 21st.
I think the optics of doing it while interns are around is terrible. It wouldn’t surprise me if they waited until after they have left despite what was said on the conference call.
Definitely counting on it. Just when. Solid bet it will be June 7 or 21. Hearing numbers are around 300 plus. Most will be FS but us here at the monument Bill built will be gutted too. Intersesting Just below WARN requirements so no two months free vacation before severance kicks in. Gee guess that money they save will get the ELT more stock options. The only kicking is 300 plus of us out the curb
Here we go with the speculation again. Are we gonna do this every Thursday?
Count on it. Can’t let this linger any longer. Before vacations really kick in, and they can always layoff people on the phone that are on vacation.
Before 4th of July. Early in the month, benefits will last for 23 days.