Hilcorp is a fact for south texas, Rumor for east texas is SND. Another fact is hilcorp offered the south texas guys a position for a 35% cut in salary. Now it's the waiting game to see if chk vest their stock.
7 replies (most recent on top)
Hilcorp is the buyer
Victoria and Zapata is supposed to be gone on the 1st. Maybe then someone will confirm whether stock vest or not.
They still haven't told the east texas guys who the buyer is yet. Heard rumor that okc went to tyler and stripped all the pictures off the walls.
Stock vest if you hire on with the buyer. If the buyer doesn't offer a comparable salary then you get severance. How much depends on your years of service and age. Which is B.S. on the age.
Wow! If that's true, once the word gets out that they are laying people off and not accelerating the vesting of their stock I think you will see more and more people decide to leave, especially those who might be on the fence about leaving now. (But then again, maybe that's what they want to happen.) I mean, if they are going to just lay people off and not give them their stock - what incentive is there to stay? Vesting your stock due to a layoff or reduction in force has ALWAYS been the norm in this industry. I promise you there is a clause in Doug's contract that if he gets laid off all of his stock immediately vests.Core values..........
Will they be accelerating the vesting of their stock? I heard if you get laid off this year you will be treated differently from those who were laid off last year - and none of your stock will be vested. Can you imagine? If true, I think these folks should lawyer up........