Thread regarding Devon Energy Corp. layoffs

@166 doubt it. Shane’s a ja----s and poor speaker, exactly what CG looks for in a leader

@15y Gaspar will eventually run off CFO Young and reinstate Ridenour to CFO from his DVN brotherhood.

@r7 DVN only made the deal because of Clays vanity and investors swing enough board votes. It’s was a bad deal that Coterra wouldn’t budge on and even threatened selling to a major to get higher premiums even though everyone would lose their job. They wanted to secure their executives golden parachutes. Jorden owns over 2 million shares of a company that instead of flatlining is now growing. He’ll exit after the billion reduction project and take his 300 million with him.

@eg buddy if you think yall were understaffed get ready for the pain. I’ve checked in on 5 different departments and the groups in them are not pleased with the lack of substance in their Coterra counterparts. These are all groups under Shane mind you, so I’m gathering he’s a poor leader as I’ve not heard great remarks in the L DVN leadership pool regarding him. Basically when is this guy going to get fired or quit. He did basically luck into this role as he bankrupted a former oil company before getting on with the Cabot and lucking out into a 60B company 7 years later he’s no where near qualified to run finances for. This is basically why half the company still isn’t merged and won’t be until January.

@fb bud you kidding Coterra is bootlicker top down central. Half the Coterra workers are doing less for more pay hints the comp scale restructuring. Jorden was still approving community projects above $500, that’s micro manage central. Can anyone actually get ahold of Dan or Shane? Those guys are quite literally only here because of Coterra bootlicking. Absolutely terrible financials that all previous ceos completely opposed until big shot Clay rolled in hoping to make a name for himself. He’s definitely bending over and taking it hard at the expense of his employees, but at least he’s well paid. These guys were not set up to be a 20B company let alone a 60B. It’s going to be a headache for awhile, but hopefully this will shake the weak leaders out when they have to do real work.

@xa Devon shoots for middle of the road on compensation package. Independent comp surveys of 27 companies in the industry, they aim to be 13th or 14th in pay. Just have to leave Oklahoma City to find it.

@109 Without a doubt. Clay was never going to be loyal to OKC. He and Jorden were not and will not take a chance on losing out on generational wealth once they slim the company down and then get acquired. Clay only takes care of Clay and his small inner circle.

With all the compensation alignment issues and Clay's extreme lack of support among the staff for abandoning OKC, this is truly unbelievable. Clay takes care of Clay.

It’s not? Thought both dvn and ctra were among highest comp among public companies.

I think the pay isn’t that great in finance. Some other companies give All employees stock and or more bonus.

Clay “I only care about myself” Gaspar had to make sure he was taken care of before his people. It’s his MO.

@fb that’s why by every measurable metric of things like well cost, LOE, etc DVN is better….got it.

@fb exactly.

CTRA got paid better because they need to be technically sound to keep their job. Bootlicking didnt get you that far for what they have told me.

@eg There's some conflicting info here. On several other posts, L-DVN people say they get paid significantly less than L-CTRA counterparts. But you're saying CTRA is cheap. So which is it?

That’s Low compared to industry. CTRA IS cheap and typically understaffed. Was hoping this was changing soon. ?

Boss makes a dollar, I make a dime. That's why I sh-t on company time.