A coworker once told me, “give Devon two years and it will s--- the life out of you.” Truer words have not been spoken here.
21 replies (most recent on top)
Megaseis, it is a terrible way to run a business, but that’s exactly what many companies do. Management t doesn’t care about the long term. All they care about is what at least superficially looks good during their watch, and also what Wall st thinks from quarter to quarter. But long term? They absolutely do not care. They have their compensation and nothing else matters.
Longer term, cutting the most experienced because they cost more will take a toll on the company. Decision makers won’t be around to care though. Ever notice that the private companies are run better? These companies are pleasing Wall St quarter to quarter.
You got me- it really is a hard knock life. Among the highest paying jobs in the state, some of the best insurance around, half off food, free wellness, every other Friday off, generally good work-life balance, Christmas bonus, performance bonus even in years the company can’t find their butt with both hands. It really is a hard thing to survive.
Wait a minute, you got a raise???
"Every time you get a raise, the target on your back gets that much bigger"
that's a bad way to run a business, unless you want to k--l it. Getting rid of your tried-and-true experienced workers just to increase your own personal numbers won't work in the long run. Of course the guys doing the cutting have their own golden parachutes and exit plans in place. Wreak havoc, then move on to some other place where they have buddies on the Board of Directors or at a high management position
That’s pretty much exactly what cost/output analysis is. Even if the output is good, they have good reviews, etc- if the cost is 2x their peer then they’re a target. Naturally those with the most tenure often fall into this category. Every time you get a raise, the target on your back gets that much bigger.
I disagree with the cost/output analysis regarding employees that were laid off at Devon. Most of them didn't have negative performance reviews. It was mostly based on if the decision makers felt their total compensation was too high and they were of a certain age, then they became a target.
I don’t disagree that there was definitely some leaders being protected by other leaders. I would also say that as time has gone on that has slowly changed- but in general leaders have been overvalued and overpaid. I should’ve been more clear in saying that the cost/output analysis was what happened with employees.
Dear Cry me a river,
That's not exactly what happened at Devon. Worker bees were kicked to the curb, while supervisors, managers and above mostly kept their jobs. The "output" of the majority of these useless sups, managers and above is/was non-existent.
Cry me a river... The market determines your value. People had been the benefactor of years of overcompensation and benefits that were outside of the market. Unfortunately when you start having cuts the first to get a look are going to be those whose salary relative to their output is the worst. You’ve got people who were hired when the market was at its peak and weren’t even middle of the pack. They are outliers every time. S---s, but that’s the formula. Years of saying yes to everything and the ‘everyone is a winner’ mentality created a major problem.
I find Devon pretty soul s---ing since the downturn, but not because they treat employees badly. It's because there is no real scope for career growth at a shrinking company and there are few interesting projects to do when the culture has become so risk adverse.
This is all good discussion
I wish to God the execs read some of these posts
The idea to gut the staff using the traditional pension plan did not start in 2015. It started years before in the old building when staff was forced to chose between the pension and the 401k. Just saying. . .
Dear Cry me a river,
It's not ALL about compensation. It's about how employees who were treated respectfully for years, were suddenly treated like they were the cause of Devon's downfall. Unfortunately, it was taken out on those mostly over age 50 and yes, their total compensation was the reason they were kicked to the curb. I'm happy that you are happy with what you make at Devon, which is probably a lot less than your predessors. I've heard many of your co-workers complaining they haven't received a raise in over three years. Well, cry me a river.
When light bulb and poor man dirks bently prompted me to the HMFIC, HH sticker department in ABBU they told me two things. Get a degree and wear your underwear backwards. Well I told my self “wide, you stay just long enough to get that Columbia southern cereal box top diploma then you spread your wings and put your underwear on right”. Well my friends that was 7 years ago. Two more classes and I’ll have my associates in hard hat sticker forensics and will be on my way! Because I allowed it, it continued
Yep. They hired me into a field, knowing it was going to sell.
Cry me a river... Devon still pays as good as anyone and has benefits that are competitive with everybody around. I’ve looked around and seen for myself. I still work at Devon because I enjoy what I do and I’m compensated well to do it. The days of compensating like we aren’t concerned about money are gone- but that doesn’t make it good. Anyone complaining is either a very rare scenario or is showing their entitlement.
DH and TV are trying to sell DVN. They gutted the Staff using the funds in the traditional pension plan.
ATA boy Dave!
Sadly, nearly every energy company, probably all of corporate america, expects you to give your entire life to them. And when they’re done with you they kick u to the curb.
Agreed. Sadly. This is true.
I started there when times were good. When you could hold your head up high and proudly say that you worked for Devon. Employees were treated like gold. Then suddenly, when times turned bad, employees were treated like they were a burden.