Well the hubby got his last check today from SWN! After 10 years of service and dedication with 0 accidents and 0 write ups they gave him the boot. As of March 1 our insurance will be out also! He was a senior Foreman and great at his job. He was respected and was devoted and loyal to his co-workers. He didn't sit in an office which he could have,but he worked with his men! He had guys begging to go work with him on his crew! Ive had guys tell me they wouldn't want to work for anyone else and others tell me what a great boss he was, but due to cut backs and MISMANAGEMENT from the HIGHER POWERS the WORKERS get the AXE and the MANAGEMENT gets to SIT in their CUSHION CHAIRS and CONTINUE TO make those BIG BUCKS while telling the guys they are SORRY! PSHH! AND THEY HAVE DONE ALL THEY COULD DO! Now that is WRONG! Anyway, I know God has other plans for our life and I Know God provides for those who r faithful to his word and I also know God says vengeance is his. That is comforting. I love my husband and I respect him for the MAN he is and for the MAN God will makeworks Oh yeah anyone can share this with whomever. I want it to get to the top! They preach the right people doing the right thing-- OK haha!
13 replies (most recent on top)
It's funny how you say the wv office is run horrible by chk but if you look you will see that most of the management there is swn people from Arkansas and other areas of swn.They would never listen to the chk people and also when they did there cuts almost all where chk .Same people there making the same stupid decision so it won't get any better.
I worked out of Houston and was offered a severance. The sad thing is I have been in all of SWN's fields of operation. The worst managed division is the WV division. The supervision and management teams are made up of flunky Chesapeake employees, who couldn't be successful under Chesapeake and now are having the same type of issues under SWN.
The problem with the SVP's is, they will leave with everything vested. They make the common worker wait for 4 years for all of their stock to vest. By that time, in my humble opinion, SWN will either be bankrupt or trading in the pennies. The common worker could use that stock now, in order to sell it while it still has some value. You can bet the SVP's will dump their stock as soon as they get it. However, each one will have a filing with the SEC on exactly what their parting gifts are. Read the SEC filing for Mueller and see the trainload of parting gifts he gets to leave with. It will make you sick to your stomach.
Well, your husband probably had three things against him, like many did:
1) He wasn't an OU grad.
2) He was probably pushing 60 or more.
3) Obviously, he wasn't a VP.
Perhaps the CFO's days are numbered. He said yesterday during the call that SWN has a "strong balance sheet." REALLY?? Sure, they might have 1.9 bln they can draw under the revolver that must last until 2018 when the first notes from CHK acquisition mature. That's fine. But he assumes that creditors won't lower the amount SWN can borrow under the revolver. Assuming the entire 1.9 bln is there how do they have a strong balance sheet?
Seriously, I laughed when I heard "strong balance sheet." He should go b/c his group and the controller were probably the ones that did the "analysis" into whether the 1.3 PVI was met.
SVP talk is from a source close to BOD member .... the remaining Houston layoffs - would be after new exec team in place.... Plenty of fat to cut still, If I have heard right you still have an HR manager of college recruiting as an example -- and companies with SWN activity would probably have closer to 200-300 people in 'corporate' ... again- my 2 degree separation source says field people should be unaffected
I understand your anger, but please rememember that things stay on the Internet forever so whoever looks up to your family will be able to see this
Is the reduction of 8-10 SVP's and 20-25% Houston office purely speculation, or is it something actually in the works?
While your point and emotion are well taken... I would expect a reduction of 8-10 svp+ types in March, along with another round of Houston office layoffs --20-25% by July ... but with few cuts , if any in the field
...or he may have been let go early then the latest round of layoffs.
"Employment" lasts until March 22nd. Then two weeks for every year after final termination of employment. Either "honest" hubby is pulling a fast one on his wife, or he got a worse severance than the other 1299 people who were let go.
I thought the severance lasted until March 22nd?
A lot of great people/employees are in the same situation. Prayers for your family and for all of us.