Devon Energy Corp. Layoffs

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Topics regarding layoffs at Devon Energy Corp.

Voting

Those of you who own shares....voting is due June 5th. Non-voting automatically is counted as “for” in regards to executive compensation. I urge all voters to vote against executive compensation and vote against board appointments. Our leader made... read more

Embolization, an Alternative to Severance

Isnt that a wonderful word! I am proposing this to Devon upper management and pray that they read this. Lets say you want to terminate large numbers of support people, like droves of lawyers. I know, i know, that is not a soft target. Here in is the... read more

Are we Out of Eagle Ford?

After selling significant assets in Eagle Ford to Penn Virginia in 2017, what is left? We continue to buy high, then sell low. No wonder wallstreet doesnt reward Devon. The current rise in share price is only thanks to Trump for destabilizing the... read more

Who will hire older workers?

Somebody asked in another thread for a list of companies that will hire older workers (I assume the person was asking about companies in our field) and I realized that there is literally nothing to put down. Every single energy company is getting rid... read more

Anyone Challenging Their Termination?

I want a reason why I was put on the list. I had a good performance review and think it is because of my age. Im feeling emboldened. Get ready HR for some EEOC action.

Round 2?

So when is it? Before end of year? February 2019?

70 Rule

So, I'm about to hit the big seven oh, meaning I'm about to turn fifty and I have been with Devon for more than two decades. How much exactly will my chances of being a part of the next layoff increase due to this? From what I've been reading, I... read more

Perfect 2020 vision! Road to $100!

the layoffs was totally worth it! after the announcement the stock price went up a few dollars-->followed by immediate celebration by DH-->followed by stock price falling a few dollars... based on this logic, we should layoff 10% every Quarter, and... read more

No bonus 2018

I’ve heard from several people that the 2018 bonus payout will not happen. Any truth to this? How could this even be the case when we’re just finishing up Q1, seems a bit premature.

Mixed earnings result

What do we make of this? Are we looking at more layoffs? Strong wells in Oklahoma and New Mexico helped boost first-quarter oil production at Devon Energy Corp. even as accounting charges led the company to post a $197 million net loss in the first... read more

Should you quit?

For those who were considering quitting Devon before the layoffs and are still here, here's a handy article to help you decide. 7 Signs You Should Quit Your Job Because Sometimes It's Better To Walk Away... read more

Wrong people gone, again!

This is becoming really tiresome. Instead of the true dead weight in the company, Devon keeps laying off good people who actually know how to do their jobs and more than pull their weight around here. How exactly do they expect to see any... read more

This was not a WARN Layoff, so...

Will a list ultimately be mailed out to those terminated, (as in 2016) showing age and positions? Read the agreement carefully. I'm sure that HR modified the legalese based on 2016 lessons learned. My prayers go out all of you. I was in your shoes... read more
by Anonymous | Post ID: @SV2Qarm
1044 views | no replies

Last layoff this year?

So survivors and victims, when the next sh-- covered shoe drop? Bet senior management won't make it to December 31.
by Funktbeboss | Post ID: @SUSkc5u
330 views | no replies

Stay Away From Devon

I was offered a position with Devon. Signing bonus, they pay relocation. If I quit within 4 years all has to be paid back. All within 2 year, half if 3 years. During layoffs I was given a letter that pretty much suggested Devon would prefer I resign... read more

Continental Resources vs Devon

Ok, just look at the 1 year stock chart, comparing CLR vs DVN. That says it all. Continental making steady gains, while Devon has peaks and valleys. Continental is lean and mean. Where Devon was 10 years ago. Continental still has their founding... read more

WELLCON SHUTTING DOWN?

I heard from two sources that Wellcon is shuddering and BU geologists are going to steer their own wells as in the golden days - any truth? What about the DE's in Wellcon if true? All that data will be lost, or maybe just the geologists are affected.
by Anonymous | Post ID: @STrRnbL
374 views | no replies

Is it finally done?

Have all the 300 jobs that were announced by Devon for elimination cut in the past two days? Has the nightmare of constant anticipation and stress finally ended? Or do we have more of the same to look forward to next week? Please somebody tell me... read more

Even less diverse, so embarrassing

Devon is a founder of WEN in Oklahoma but finally got rid of the last two females in leadership in Delaware. Hear new org chart is coming... Let's count how many are left all together.

All Hail Devon exec team

i'm publicly asking the devon board to increase compensation for the exec team. DH's leadership, energetic speeches, and inspiring crystal-ball 2020 vision (full pun intended!) fully justify his 2017 $13M compensation (>50% increase from 2016). even... read more

News Flash

The only good move Devon ever made was acquiring Mitchell Energy for the Barnett Shale. Also management... Mitchell discovered horizontal shale drilling and its success in the Barnett, Devon did not, so stop telling people that Devon discovered it... read more

Managers writing their own tickets

Is it true that middle and upper management get to write, negotiate, and review their severance packages weeks before layoffs? My manager told me he had at least two jam sessions after hours with some of his peers so they could get on the same page... read more

Any chance we get new management?

So, OK, current management indicates that Devon has identified $5 billion in properties that could be sold. that is about 30% of our wells value wise. Does that really mean the employees are going to continue to be decimated after every divestiture?... read more

Today's gonna be fun on no sleep

Well, I tried to get some sleep last night but I failed miserably. As if the stress of waiting to see if I am on the list is not enough, now I'm going to have to go through that on no sleep at all. It'll be a "fun" day, that's for sure. At least I... read more

News Media

Be careful what you say on social media. I know that there was at least on case from 2016 that Devon when after someone sharing too much info on their package. You just won the Devon lottery so don't complain. The Devon you loved is died years ago... read more

"Do the right thing"

https://in.reuters.com/article/brief-devon-energy-says-ceo-david-hagers/brief-devon-energy-says-ceo-david-hagers-fy-2017-total-compensation-was-13-4-million-versus-8-8-mln-in-fy-2016-sec-filing-idINFWN1S20PT

Remaining management in the new org structure?

For those in the know, how will the hundreds of supervisors and managers fit in the small number of projects remaining? This is a real problem that I thought executives would have gotten right in today’s management reduction. But as we witnessed... read more

cuts were weak

Prediction: exodus of productive employeees who do not get a package this time around Once a few leave, it will snowball. Faith in managment is lost. Same thing happened at a few other peer companies last year. Once it starts, it is difficult to... read more

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