Thread regarding Pioneer Natural Resources Co. layoffs

It has started

And it looks like it'll last throughout the day.

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Post ID: @ZafPK3T

12 replies (most recent on top)

Even though loss of human work force is devastating, this is a clear example of poor and misguided management. The unfortunate is, working bees are getting perished and paying the price, for those at fault. The so called management and their toxic views are remaining on board or if left, they will be rewarded for their fatal mistakes. This is a crystal clear example of unqualified corp. pets & push overs being promoted to levels, they were completely stranger to.

Ultimately resulted in excess corp. fat and a chronically intoxicated culture with nuisance and counter productive protocols. Isn't it ironic as oil prices are rising a company that wanted to be called "GOOGLE OF OIL & GAS" having to go through lay offs? For those who are following PXDs events bear in mind less than a month ago the announcement was volunteer separation and immediately following that a 25% reduction again. The vicious minds of those who reside in company's pent house were well aware of both or the ones to come, but since they knew the cascaded reduction will mean smaller percentages, opted to do so, for less attention. A company that continuously campaigned that their position in West Texas is second to none, simply because of old leases and reduced F&D fees, will have to restructure in such a shameful (for those of them who know the meaning of shame) way. A company that repeatedly claimed their invincibility, now will be salvaged at the end of the day for bargain prices.

If nepotism and favoritism was a crime, all of those, so called managers and officers, would get thrown into prison. In PXDs heyday, the only thing they could offer to keep their employees was high high salaries. Those who chose to accept those salaries, upon entrance immediately smelled the poison and came into touch with that harmful corp culture. Even in those days when PXD bragged about their ping pong tables and free lunches, had they lowered salaries to going market rates, only the circuit masters would remain and no one else wanted to have anything with that company.

It is true that Sh-- ROLLS DOWNHILL only and one can fool those above and can never fool those below.

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Post ID: @ZafPK3T-1ysu

Who would want to stay working there after that amount of cuts. Hmm, for the same pay I get to work 25% more and under the threat of losing my job too? I always believed that the lucky ones are the ones who get laid off first ... they are the worst employees but get to go find a job with a new company first while the loyal ones get extra work and then go into a tighter job market.

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Post ID: @ZafPK3T-vbm

what departments have been affected

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Post ID: @ZafPK3T-bnh

@-bqn. Deep down you must feel inferior while thinking you are superior. Please please, it is not going to help you today. I feel the despair in the air for all of us. Chin up -- in or out, men or women.

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Post ID: @ZafPK3T-nuw

Grab the KY folks. The a55 fukin isnt over. Now those of you who remain please flush your careers

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Post ID: @ZafPK3T-bqn

Anyone been told they are staying and actually asked about more rounds tomorrow?

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Post ID: @ZafPK3T-kxu

If you count the approximate 270 for VSP (90% of 300 per the email that went out weeks ago) and the 230 between Midland and LCO for the ISP, that is 500. I was eligible for the VSP and took it as I didn't want to risk being told I had to leave. I hope everything goes as smoothly as possible today. Such a sad day for Pioneer.

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Post ID: @ZafPK3T-bfv

They can’t do 500 in one day.

This is just act 1.

Act 2 is tomorrow. Total will be around 4-500.

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Post ID: @ZafPK3T-skl

Needed to be more laid off in LCO, less in Permian. What a joke.

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Post ID: @ZafPK3T-cjy

The said before that the majority were achieved via VSP. Now that is confirmed.

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Post ID: @ZafPK3T-zbr

Thank you for your patience and understanding as the Management Committee (MC) worked through the process of reorganizing our corporate structure to align with our one-basin strategy. The MC has completed its work, and this morning we will notify about 160 employees in LCO and 70 Permian employees who will be separated from the Company. This email is being sent to all employees so that everyone is aware of what will take place today.

We ask every employee to be in his/her office or designated workspace beginning at 9:00 a.m. this morning. Managers will meet with each employee about whether they have been impacted. Please remain in your office until you are contacted by your supervisor.

We recognize today will be difficult. However, for managers to meet with all employees, we will be working off a structured schedule of brief meetings, beginning with employees who will be leaving. This memo and the packet of information which will be provided to those who are being separated should answer many of their questions. We will also provide an HR contact phone number to answer additional questions.

Thank you for your patience and understanding through this difficult process.

INFORMATION FOR IMPACTED EMPLOYEES:

Starting at 9:00 a.m., senior leaders will meet with employees who are being separated. At the end of this meeting, your supervisor or an HR representative will pick up your corporate purchasing card, parking/ID badge or other company property. You will be allowed to keep your company mobile phone, and your information packet will include instructions on how to convert it to your personal account.

If you have personal information on your computer, please inform your supervisor and they will work through our normal process of transferring files and mailing a flash drive to your home address. For the personal items in your office and/or gym locker, we will have a contract service pack and mail them to your home address. For large items that can’t be boxed, we ask that you contact security at 972-969-3737 to schedule an appointment to pick them up on the afternoon of either May 24 or May 31.

As part of the Company’s severance offering, Pioneer is providing outplacement services to assist impacted employees in finding their next job. Impacted employees will have the choice of meeting with outplacement representatives immediately or scheduling an appointment for a meeting in their Richardson office. The information packet will also contain detailed information regarding all separation benefits.

After the meeting with your supervisor is completed, an HR representative will be available to walk impacted employees to either the outplacement services meeting or to the 2nd floor to exit the building. After impacted employees are notified, supervisors will then meet with all other employees in either department or individual meetings.

A special thank you to those employees who must depart Pioneer today. We appreciate all of your contributions and wish you the best.

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Post ID: @ZafPK3T-xyf

Only 160 at LCO. Thought it’d be more.

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Post ID: @ZafPK3T-xdb

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