Attention all current Southwesten Energy employees. This thread is your official unofficial source for upcoming layoffs. All other threads are imposters. Stay tuned and as always “good” luck!
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Layoffs this week!!! All the signs and signals are there! Good luck to all and for those 90 plus in Spring about to be unemployed we are blessed to be in Oil Capital of the world. Lots of jobs out there and I have been working with recruiters for last six months. A few things pending and with a little bit of luck will get a severance package and an offer letter back to back!
I’m in the IT group. I can confirm that Way has equipped all key leaders who are deploying layoffs, with electronic buzzers under their shirts, which will send a signal at the exact moment Way wants layoffs start tomorrow.
This doesn’t appear to be a joke. I can also confirm some department heads traveling to NE. No company jets to make it a quick in and out ordeal, so here’s to hoping for some commercial travel weather delays so we don’t get laid off to soon! Here here!
Key leaders traveling today to NE. Step one for layoffs. Expecting layoffs with a sense of urgency.
When do stock grants vest? This could be the key to knowing that layoffs will be prior to this date. I know Way couldn’t stand that laid off people in 2016 were still being vesting stock until last month!
Official Unofficial update. 2019 bonuses are not expected to be paid for those laid off this month. Our CEO had regretted giving the 2016 bonuses and stock grants and is committed to preserving cash so the company can operate in cash flow.
Let’s lay-off J, B and COB. Then we can make real progress as a company. With those three at the helm we never will.
I believe with those numbers, WARN would be enacted. Is Tuesday the day?
Asking for a friend. Are these WARN levels? This will tell us a lot about our severance? Thank you and good luck everyone!
Official Unofficial Update - Early but solid reports have numbers of 115-140 total with 90 plus in Spring.
I was laid off in 2016. I was ready to leave and retire anyway. Afterwards it was great. I traveled and visited family. Mondays and Fridays are the best. Presently, I wouldn’t feel that good about it if SWN was a thriving company. God got me outta there. In 2004 when I hired on, SWN was very promising. Harold was the CEO. They treated me well.
Update from my earlier post about 12-14% is floor for layoffs. Ceiling could be above WARN levels. Just got this sourced right now as I sat down in my office.
Perhaps some voluntary departure scenarios available for folks with 10+ years of service is what I’ve heard. BOD still contemplating this one against their own compensation increases which are due this quarter as well.
New update. Leaders finalizing some details on layoffs today and tomorrow. Few things to iron out like benefit details. Severance definitely not as good as prior layoffs is what I’m hearing out of most leadership circles. Plan could be finalized this week. The “Layoff 2020” event (as some have tagged it) looks to be in the 12-14% range.
I bought it at an auction for $25. I immediately took it to a car crushing facility and smashed it. Sold the sc-ap metal for $50 which is worth more than my SWN stock in total.
Very doubtful that there will be layoffs. The R2 formula is missing from the Spring office, unless it was moved
Official Unofficial #1 - Strong indication layoffs be at end of this week or early to mid next week.