Thread regarding Superior Energy Services Inc. layoffs

Layoffs and Furloughs forthcoming

Houston area will be hit the hardest.

At this point:

  • Suspension of 401k match indefinitely
  • Mandatory salary reduction ranging from 20-35% with optional “deferral” (unknown).
  • Furlough will be company wide for essentially field based employees and is expected to be 70% of total workforce.
  • Lower level salary will be laid off for their benefit given they could emerge with same or greater salary on gov’t subsidized unemployment.
  • Managers will be reduced at a headcount of 3 to every 1. Some will be furloughed but a majority will be laid off due to extended negative global demand forecast.

Timing - very soon. Lawyers are involved with “WARN ACT” (google it for explanation) which is likely to result in 2 months of benefits and pay continuation is up in the air.

Not trying to be political here- wanted to give a heads up to people in the same boat as I.

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| 2146 views | | 5 replies (last )
Post ID: @OP+14Ci8pHa

5 replies (most recent on top)

I was cut loose on Friday along with another 6 other middle managers.

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Post ID: @Bjcv+14Ci8pHa

CES & Concentric are down to minimal and essential staff only. Benefits will be OK until end of the month. No pay unless you had time available. Not mad at the company — just the situation!

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Post ID: @fpjw+14Ci8pHa

My group within Completion Services had heavy layoffs on April 17th. The remaining salaried employees are taking a 10% pay cut.

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Post ID: @bxbl+14Ci8pHa

They are working through the legal formalities and logistics (e.g. returning company equipment, computers etc...). Good Luck!

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Post ID: @wsj+14Ci8pHa

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