Been a part of the new organization regarding headcounts and #s. Here are the % cuts expected by group
HR - ~33% (already happened)
DRLG - 42%
COMPL - 49%
Reservoir/Subsurface - 55%
LCO Operations - 10%
Midland Ops - 8%
Legal - 18%
Land - 35%
Accounting - 42%
Other - 35%
Happy hunting :-(
This is why is stick with the TI-89
The only thing most of engineers know how to run is their TI-83+ and Instagram. Someone with next to zero field experience shouldn’t be running anything that derives it’s cashflow from said field.
HIGH PERCENTAGES, there has got to be a mental health risk or at a minimum a D. G. A. S attitude if Pioneer drags the layoff from days to weeks to months. It is pretty much inhumane to put peoples lives and future on hold for 6-8 weeks while those on lofty perches make the calls. Would be much more efficient if management had been working on a RIF for months and delivered the head quota and each department would deliver the list of personnel up to the Reporting EVP for approval. Would think this could be accomplished in several weeks. During the 1st round in March 2019 L. P. was brought back and he was pretty efficient on getting it done. This goes on much longer people are going to be drinking their lunches and dinners, and it won't be soda pops. Get the people gone that are going and start working on the morale for the future of the company
There are 3 drilling VPs, are those all individual departments?
You left out MC & BOD. After all, they're the ones who got us into this mess in the first place!
Percentages look accurate, therefore it won't happen as such. Take whatever makes sense and do the opposite. PXD way!
Time for completions to s u ck the big one
Board meetings were last week so it is quite possible these could be the numbers that were presented.
Has timing been decided?
An updated breakdown more specific down to the LCO department level. But, the oilfield adage is correct "the closer to the wellhead the safer you are."
HR - ~33% (already happened)
DRLG - 42%
COMPL - 49%
Reservoir/Subsurface - 55%
LCO HS&E - 35%
LCO Risk Management 10%
LCO Purchasing Supply Chain 20%
LCO IT 35%
Corp Security 15%
Midland Ops - 8%
Legal - 20%
Land - 35%
Accounting - 42%
The lay-offs will be surgical and numerous, if the industry comes back Pioneer will hire contractors to pickup the pace. Pioneer has got to cut G&A and live on cash flow, this is the last chance.
These numbers are post by someone who has no access to reorg data. In fact, it is quite obvious where the cuts gonna happen the most. Count the number of employees in each discipline and look at the ratios. You will see the answer.
I did. About a year and a half ago. Went well, but I suppose that depends on your managers.
Has anyone had a conversation with their manager yet to express the interest in taking the package? How did it go?
Engineers don’t now how to run the place! Lol
The entire thread is made up. Go to bed!
How would one find out these numbers? Just curious? The numbers sound accurate but why would somebody who knows share it on here?
The OP is a bit off. The figures I saw for completions ranged 70% cut at high end.
10%-20% at most for Reservoir/Engineering.
All field supers and area supers are gone. Engineers will be running field offices
HR is running the show. Unsure of amount of manager input
Hope it’s sooner rather than later. Surely some managers will get laid off too there is so much fat on the top.....
Is it true that the departments have no say on who stays and who goes, HR is running the show?
Does it include field personnel, field engineers for d&c or just lco?
HSE?
How soon? Can we expect this in the next 2-3 weeks?
What falls into the other category?