There is going to be another round of layoffs this year, no way around it. The talks are about 10% of the work force.
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Why wait til March? The company is broke TODAY!
It looks like there is one for the computer department and accounting, not sure about the rest of us.
So there's a town hall meeting Monday?
lets wait for Monday's town hall.
SD now trades as SDOC (as in SD, over-the-counter). Really shitty penny stock! Avoid it unless you're just making a one-day play to time the market.
IT can lose some mid and top managers, some of them are worthless...
It would be nice to get an early retirement offer for those who are eligible, it will help younger people remain employed and healthy.
It sadly has to happen, 30% seems about right for the first quarter. But the cuts will only continue as 20 some odd dollar oil is on its way and will last for years. OPEC and Russia will make damn sure of it. They can't stop or they'll go under. Sorry for those at Lariat, almost 90% and strangely in the presser they specifically mention no sandridge employees were effected. Jeez nice press release, why not put the word "yet" on the end. Everyone knows it's coming, why can't management ever be up front!
Yup, Lariat is gone...when will Sandridge go under?
Sounds like the Service side might have some cuts on Wed.
Too many VPs in the building. And now we have to go through that idiotic two day training.
So glad I was laid off! I feel bad for the remainder... I'm sure the separation package won't even exist...
Any VPs or departments targeted specifically? I agree that it will be closer to 15%, maybe up to 20%.
This is so very sad. Even if it is not true it would be wise to start looking elsewhere. No one could have seen oil and gas prices falling this low.
What makes them think 30-50%???
How about the fact that current G&A costs are unsustainable?
How about the looming bankruptcy?
How about the stock price? (may be hard to lookup as it has been dropped from the NYSE)
Maybe a debt to equity ratio of negative four?
Perhaps the fact that SD assets are shit?
Take your pick, any of those justify a headcount reduction given the current environment.
What make you say 30% or 50%? Do you have concrete information, or just an assumption?
This was sad to watch from the beginning. The Sandridge Energy ship set sail with great Wall Street fanfare. Unfortunately it has no chance of reaching the destination promised.
WILL BE CLOSER TO 50%
That seems really light on cuts. I would think we need to cut 30% or more at this point.