Alright, how is the dust settling? is it over? I heard it was happening as early as start of day. Surely folks know by now who is gone and whatnot.... Any senior manager folks? hopefully a lot of them because there are way to many people that have officer titles.
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VP's need to go.
Anybody else notice that the amount of money they expect to save ($50 - $70) million is the same amount that Steve Mueller took out of the company in salaries and bonuses while he was CEO?
They're not in violation of the WARN act because nobody was actually terminated today. This was however, your WARN Act notice so you can figure out the deceptive part of the package there.
are they in violation of the Warn Act? if so, call the news stations, lawyers, labor dept, everyone.
Yup what A sad day. Time to make a fresh start. God Bless all!!!
I saw the handwriting on the wall and left years ago, company is way to top heavy!
I was one of the 300 at the Headquarters. I was back at the house by 8 this morning.
Below is SWN's statement regarding today's announcement:
Natural gas prices have continued to decline over the past year, creating conditions where cash flow to fund projects will be significantly lower that it has been the past few years. This has led to a need to reduce the company's overall workforce. These organizational changes are required to maintain competitiveness in this low gas price environment. We regret having to make this decision and we thank all of our employees who were affected by today's announcement for their contributions to Southwestern Energy Company.
SWN is providing outplacement services, employee assistance, severance and other benefits to support impacted employees and their families through the transition.
In total, more than 1,100 employees were impacted, or approximately 40% of our company-wide workforce. Of these, more than 300 are associated with our Houston headquarters.
Sincerely,
Christina Fowler
Communications Advisor
Not done yet. Everyone is at risk. All offices at all levels. but that should be obvious.... 40% is a lot of people. Numbers that big are always a part of restructing and/or desparation. If you are staying its going to be a long time before SWN recovers... if you are leaving you might be lucky that you are getting off the ship while there are still lifeboats...
A sad day.
Over 1100 people will be laid off. I was one.
Its no where near over.
Lots of managers and non managers.