tell the Rosetta employees to bring their stash, they get free snacks and drinks
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Not the coffee creamer! Next to go is the two-ply toilet paper... Barbaric
Interesting how Rosetta's management team took care of their employees during this negotiation. Noble's management team gave it's severed employees a bare bones severance package. Not surprising that Rosetta's employees were/are much better paid than Noble's employees. Noble is the K-Mart of the oil and gas sector.
If you think Morale is bad now, what until you see the base pay difference between the Rosetta employees and the Noble Employees, Rosetta employees are paid 30% more at each grade level. And the Rosetta employees get guaranteed bonus for 2015 and 2016.
Just wait, Rosetta employees are cable of lowing Noble stock price by much more than 25%. More downside to come. When the ROSE employees show up you will see a new lower level of incompetence. Rosetta was not on the verge of bankruptcy because they knew what they were doing. It was failing for a reason. Distance yourself from the ROSE employees
It is not surprising that morale is low at Noble. Employees don't trust management to do the right thing. They also know that this management group is incompetent. This was a good company at one time. But no longer. It's a place to work when you can't find anything else. For awhile they had Wall Street buffaloed. Even Wall Street has caught up with their empty suit spins. Stock is down over 25.0% since Rosetta acquisition.
It was a good run but the end is near. It was a perfect storm with QE, Wall Street, creative accounting, inflated reserves and artificially high commodity prices. The officers and directors had to know. For the last several years they have been insider selling at epic levels. The company must have handed out stock like candy to these Bozos. When the wheels fall off, books will be written about the abuses during these times. NBL is not the only one but in my opinion one of the worst.