Thread regarding Devon Energy Corp. layoffs

@bh could you elaborate on that beef, please? First time hearing it.

Anyone actually ballsy enough to push for this to happen??

If you need to see precedent go to the Civitas website and notice that ever since the deal closed last month it has a notice on their page to refer to SM Energy’s page for everything. That’s all you need to know about a “merger of equals”.

I imagine SM will keep Civitas folks around for a few more weeks, retain a dozen or so and then send the rest on their way.

https://www.linkedin.com/posts/civitasresources_civitas-resources-has-merged-with-sm-energy-activity-7423024004372029440-FNsH?utm_source=li_share&utm_content=feedcontent&utm_medium=g_mb_web&utm_campaign=copy

I think we all know what is legal and what is ethical do not always add up to the same thing.

@jh it’s a contractual benefit that they agreed to pay out

Those are benifits not legal requirements. That’s like trying to sue for a bigger bonus. Technically they don’t have to give you anything but a two week or month notice under the warn act.

In the CHK-SWN merger of equals which had a similar ownership/board split as this and CHK as the surviving entity, CHK gave all employees the elevated package even though the double trigger had not technically been met on the CHK side as to do otherwise would be immoral. Hard to believe that the oft disgraced Chesapeake was more ethical than Devon. Sad.

@OP seems like okc employees sc--wed on technicality. I would for sure want to seek legal counsel in the coming months before layoffs occur, it only takes a handful of employees to put the pressure on. Uprooting or laying off a thousand people and acting like it’s not a “change of control” is bullsh-t.

All this because someone has a beef with EGO, I mean EOG.

The sad truth is he will never be big enough to fill those shoes