Thread regarding Swift Energy Co. layoffs

Jan 2017 more layoffs!

Houston office. Most the "chiefs" kept their jobs with their fat checks. Let the Indians go. Lots of outsourcing. Seems like the big stake holder (same Middle Eastern dude that owns PennVirginia) did what he does best, dismantled the place. Rumor is they're looking to sell the joint. Good luck to all...

by
| 2822 views | | 4 replies (last )
Post ID: @OP+Li7CVjt

4 replies (most recent on top)

For someone who had been in the oil business his whole life looks like terry swift never learned a thing. He ran the company into the ground by mismanagement and pure stupidity. Never put on any hedges even when oil topped $100 a barrel keep on thinking oil was never gonna drop what an idiot

by
|
Post ID: @epph+Li7CVjt

When a company implements layoffs of 50% of the workforce (138 reduced to 69 this go-round), one must ask what the future holds for the remaining assets/employees. I wish those remaining well.

by
|
Post ID: @2nnr+Li7CVjt

So SVP GLOBAL - Victor Khosla - Indian dude - is the primary shareholder and he takes distressed companies and basically dismantles them. I bet old Earl Swift is turning over in his grave. He was a wonderful owner, his idiot kid Terry ran the company to the ground. If they would have given management all a pay cut that would have helped. Maybe let go of some of the unnecessary managers/directors/vp's. Very very top heavy company.

by
|
Post ID: @1urv+Li7CVjt

Post a reply

: