Anybody else scared they'll have major layoffs right now when everybody is furloughing employees to make sure it flies under the radar?
8 replies (most recent on top)
Here it comes better tighten your straps. The new owners will take over after the restructure, when they take charge after they become in control from investors payouts from debt. That’s when the fun starts, board members and big dogs will get thinned out, and on down the line. Away will go the free insurance just watch it will happen. And now no mass jobs out there. Everyone was laughing at us s—ers that got cut now it will be your turn to suffer
Sure would be a nervous nelly come every Wednesday, shift change and meeting day. That’s when they will pull the carpet from under your feet, and today’s lucky winners that we promised would never happen again to are are . You your the next contestant on Whiting is going to screw you over today.
They still have all that fancy expensive lab equipment? If yes, good time to make a youtube video on how Whiting 'scientists' are using nano technology to look for a cure for Covid-19
Make no mistake, Whiting is a dead duck. They have no true Tier 1 acreage left, and precious little Tier 2. What they aren’t being honest about is that their current acreage needs $65+ to make any returns. Dead. Duck.
From what I've seen/heard Whiting is still getting people to drink the Kool-Aid. Gave out bonuses to "retain critical personel" to ensure "successful operations of the business". What a crock. Whiting couldn't make money at $50/BBL. They just want to keep people from bolting before they turn out the lights.
nahh I would trust them , they never lied to us before. were done with laying people off no more. they have plenty of money to keep you all. Just keep listening to all the bull sh– lies. ceo is a crook and he is sittin back laughing with am big fat bonus .i am lucky to be one that was cut in the last batch as far as I am concerned, Better start looking before they pull the plug and everyone's looking for a job at once. Good luck if they hand out severance packages this time.
To be realisitc, no one knows what will happen. If someone did know, they wouldn't share on this board.
It is likely Whiting will see reductions in staff over time. Whiting couldn't make an operating profit at $50 oil, and they sure won't be able to at $25. Even if our debt and debt interest goes away we would still be losing money at $50 oil. Add to that our rapidly disapperaing quality drill spots.
Save your money, dust of your resume, make contacts in other industries. It might be good to just start applying now. Other industries don't have nearly as much stress.
Better save up those bonuses Holly stole from the $650M credit facility draw down and handed out the day before CH 11 was announced.
Anadarko, Cummins and others have announced pay cuts, furloughs and other measures. Whiting's days of milk and honey are over along w/ the rest of O&G.