Here we go again.
22 replies (most recent on top)
These decisions are long overdue. I’m a lifer EQT employee and believe the company suffered for far too long from a bloated structure and too much Bureaucracy. Toby and the Rice team are taking the necessary steps to ensure the long stability of the company in the face of the current gas macro. This company has a bright future w Toby at the helm.
I hope your severances were good! Earned it after these last few months.
I'm finally free from oil and gas, and I'm going to Chili's to celebrate. Who's with me?
So glad I turned down an offer here a year ago. I listened to my gut.
Was already laid off by energy. F the fossil fuel industry. Will never work for the pricks again.
PITTSBURGH (KDKA) — Gas and oil company EQT is laying off nearly 200 workers.
According to our news partners at the Pittsburgh Post-Gazette, the new CEO of EQT Corp. sent a letter to the company’s about 850 employees calling the layoffs “difficult but necessary.”
He also thanked those let got for their work. The PG reports they will be offered severance packages.
In the letter, the CEO goes on to say: “Our intention is to carry out the process as quickly as possible so employees know where they stand and to treat impacted employees with the dignity and respect that they deserve.”
This is all very unprofessional and infantile. No one even cares anymore what they do. Really. All of this and how it is being handled is a testament to their future. Can't wait to watch.
There are some people on this thread purporting to be legacy Rice employees. Rice is gone, EQT is the only company that remains and the folks that stay with EQT need to understand that, no matter what their legacy. True Shalennials understand that the power is in the team, not the individual, and would not come here and talk trash. The team going forward is EQT, distilled from the best of its full heritage. The past is the past and it needs to stay there.
350-450 employees really is what it should take EQT upstream to operate our assets. Our peers making more than 3 bcf/d or greater in the basin are sub 400 employees. We all know this reckoning is deserved. Our bureaucracy of leadership has been drain on profits. 5 and 6 layers where 2 is needed. Bull c-ap groups justifying nominal gains with outrageous G&A expense. Bottom line counts folks and we need to get our head count right.
"This thread says EQT GP Holdings. Um, sure this is the same as EQT Corp being run by Toby Rice?"
Yeah. Technically Equitable Resources is associated with the EQT ticker on here. Who's gonna find that though.
This thread says EQT GP Holdings. Um, sure this is the same as EQT Corp being run by Toby Rice?
"Yea, honesty would be nice. So much for the "Happiness Campaign"."
You want happiness? Know your role and do your f—ing job, the right way, as you're told, by your new Rice boss.
"Going to be out of business by 3.15.2020" uh ok. That didn't even make sense.
Probably more layoffs coming. If EQT people would've listened you'd have realized we could run this company with ~350-400 people.
There's hardly 200 ex Rice employees left. There were only like 350 upstream employees at Rice anyway.
To the person talking about treating us as equals and stuff, yeah, that's great, and it's appreciated for those who did.
But we dealt with constant arrogance over a million different things. So there's gonna be some anger.
"MAYBE THEY SHOULD STEP OUTSIDE AND LOOK AT THE LETTERS ON THE BUILDING".
I will love that quote forever.
Going to be out of business by 3.15.2020
It's time for Original ETQer to pay! It was these employees in particular that decided to sell Rice and get paid billions. I can't wait for Toby to stomp on these P— ants
Wow. Some of us treated the Rice people as our equals and even trained people who were in or ended up with higher positions than we were. And these same people did so happily because we are a TEAM!
Yea, honesty would be nice. So much for the "Happiness Campaign".
Good luck everybody!
All anyone wants is some f÷#$ing honesty instead of childish games.
I disagree....I think 200 people or more will be fired, BUT not rehiring people back. With low gas prices now and for the foreseeable future, operators need to get lean. Do
More with less.
Rumor is ~200 people to be replaced by ~200 ex-Rice employees and they are changing the name to RiceQT