Well bonuses have been paid, people are leaving, and it should be time for the next round of who gets cut. Let the blood bath begin! I’m so sad that this will effect productivity.
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Besides, the shareholders should be on their knees thanking us that the whole company hasn't gone belly up yet....
This may be the single most ignorant statement ever posted on this site. You are what’s wrong with this company!
I have seen other energy companies cut back on the scale of the bonuses, but I haven't seen any other large independent eliminate bonuses entirely.
Besides, the shareholders should be on their knees thanking us that the whole company hasn't gone belly up yet....
Just to be clear, many if not most of the employees have the same confusion as to why bonuses were paid. Yes we worked hard but at the end of the day it clearly was not in the right areas to drive the company forward. It’s the lack of trust and fear of the future that has pushed the execs to continue to fail as a company. Amongst the list of 1,200 other things. Like I don’t know... pride and egos.
You should not get a bonus if your stock is $0.15, point blank. That’s ridiculous!! Besides, it may be your last one.
To reiterate, what were bonuses paid out for? What did Chesapeake do to be able to pay out supplemental income to employees? How was this earned?
If you are in oil and gas and counting on bonuses to pay the bills as previously stated you are an id–t!
As an employee and shareholder I see both sides. I am happy for my bonus as I worked very hard for it but I also see MANY others who did not and they too received bonuses. Admittedly other companies I have invested in elected not to give bonuses during poor years and I agreed.
FYI - Chesapeake does not drill and complete wells as previously stated. I continually hear this but we contract these services and routinely take credit. We don’t do the work people! Our engineers are NOT the best in the industry (as a whole) but they are good at riding contractors and squeezing pennies. As our market share has dropped so has performance as we can no longer leverage them and routinely get B and C crews. It will only get worse and that is sad as it had the potential to be a great company but was overtaken by executive greed, the good ol boys club and pure incompetence.
If you don’t like what a company is doing, sell your stock. Duh? As for CHK, there are boulders & bowling balls to worry about, and you’re getting in a twist over grains of sand.
Legacy, management, and the simple fact that this is a commodity business are the factors that ran CHK into the ground. As for the employees, some CHK folks are the among the best in the industry. Some. Few can drill, complete & produce better. Business decisions are what has hurt this operator... and you know who to blame for that. Isn’t that blatantly obvious?
Sell and move on with your pathetic life. You should sell before the split anyways.
This is where you are wrong! It is in addition to your compensation package and is supposed to be based off of personal performance and company performance. Bonuses are not guaranteed and should be earned. If you or the company does not perform they should not be paid!!! In this case the company has NOT performed and they should not have been paid. You speak from entitlement as if you are owed a bonus. If you are getting paid every two weeks you are receiving your entire compensation package. Bonuses should not be paid out in a company in this type of financial ruin. When it all crumbles and you are forced to join a company that actually holds its overall results and its people accountable you are in for a slap in the face that most others call reality!
Thank you thank you thank you to the last poster!! You said it better than I could. Unless you work here, they can’t understand the sacrifice that all of us Individual Contributors have put into this place. Constantly doing more with less resources. What we got as a bonus is a drop in the G&A bucket for this company. Executive bonuses are a different story...
It’s part of their compensation package you cheap retail shareholder. Real people with families that pay bills work (WORK) here. You should be more concerned with insane executive compensation. Also, I’m sorry about the 1,000 shares you bought at $1 that you’ll never see again. You were dumb enough to buy stock in this company, but your 1,000 shares you bought with Robinhood doesn’t give you the right to complain about employee pay. Who do you think you are, Carl Icahn?
Really - bonuses for What??
Anyone heard of anyone already getting let go? Or are they waiting to see who puts in their notice this week?
Productivity??