Thread regarding Denbury Resources Inc. layoffs

How many took the VSP?

Was it enough to avoid a lay-off? Anyone know?

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Post ID: @12mWGWKe

9 replies (most recent on top)

Reduce “managers” and execs.

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Post ID: @12mWGWKe-7khz

And the answer to your question is; 100 people, or 12% of the workforce.

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Post ID: @12mWGWKe-6jie

Why offer it? Because at SOME POINT, a RIF might become necessary. Any who take a VSP now will result in FEWER people being affected by any subsequent RIF (when/if that occurs). Probably more of a when than an if, to be sure.

But, yes, I take upper management at their word when they say that there isn't some magical number they're looking for right now (percent taking the VSP) before they decide if they need a RIF in the very near future.

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Post ID: @12mWGWKe-1hoc

Based off of some of the names I’ve heard. There’s ALOT of technical knowledge and talent leaving from the field very soon . Best of luck to those left and be safe

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Post ID: @12mWGWKe-1xrb

Do you really believe that? If that were the case, why even offer it....?????

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Post ID: @12mWGWKe-1sxc

They made it quite clear that they were not looking for any particular percentage.

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Post ID: @12mWGWKe-1yoq

Anyone find out what percent they were hoping for?

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Post ID: @12mWGWKe-1hgu

On the technical side, I believe that a very high percentage of those 58 and older accepted the VSP. As far as the field, accounting, IT, etc, I have not heard a thing.

I strongly suspect that oil prices in 2020 will have far more to do with whether there's a RIF or not than how many people accepted the VSP.

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Post ID: @12mWGWKe-obx

Not enough.

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Post ID: @12mWGWKe-yzh

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