Thread regarding Denbury Resources Inc. layoffs

Predictions on if there will be furloughs

CK said in the townhall there would be furloughs instead of layoffs if it gets to that point. With oil in the teens now, it seems inevitable. I'm thinking they would start next month, especially if we start shutting in production towards the end of this month. Just my prediction.

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Post ID: @OP+14wDU2Ko

11 replies (most recent on top)

You must be young if you think that any company, especially an oil and gas company, owes you job security. Ever heard of boom and bust cycle?

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Post ID: @jjml+14wDU2Ko

Exactly. There is not a single rumor being tossed around. Furloughs, layoffs, company-wide paycuts, nothing. Add in that every Chris update is a vague "checking in, you're doing a great job, here's why the industry is where it is" with zero insight on job security, even though we all know something has to happen.

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Post ID: @iatp+14wDU2Ko

So the Maserati I bought last week . . . bad idea or not?

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Post ID: @igbk+14wDU2Ko

What s—s is not being in the office to hear the chatter and get mentally prepared this go around, feels like everyone is in the dark and it is going to blindside a lot of people who think their jobs are safe.

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Post ID: @iatg+14wDU2Ko

We are in denial if we don’t think there is a high chance some type of reductions in the form of furloughs first then layoffs later in a month or two. I’m afraid the video messages we Get from Plano have gotten may have been more wishing and hoping vs reality. Maybe the federal government will do something that Denbury will qualify for but I would prefer to hear real messages and plans from management. We all see the same news and what is going on at other companies so please don’t act that oil is going to suddenly come back to a level that works for us. It’s the reality we live in and we need to approach it with real plans and less fingers crossed.

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Post ID: @gnzi+14wDU2Ko

Are they reopening the office to have a lay-off in person? If they are closing fields they don’t need staff.

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Post ID: @gebs+14wDU2Ko

If they don’t open things back up there won’t be anything to open back up to.

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Post ID: @3jlc+14wDU2Ko

With current prices, it’s just a matter of time. Not just for Denbury but for everyone in this industry.

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Post ID: @3glc+14wDU2Ko

We could save tons of money if the ones who come up with those supposedly cost savings ideas that is
implemented throughout the company and do affect the bottom line are furloughed or better yet, permanently laid off.

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Post ID: @ept+14wDU2Ko

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