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re: CHK layoffs
Posted on 9/9/13 at 4:13 pm to BROffshoreTigerFan
Posted on 9/9/13 at 4:13 pm to BROffshoreTigerFan
Hate to hear this. You've got to think that this was long overdue. I actually liquidated all my CHK after a 25% gain earlier this year.
In my time associated with CHK as a safety contractor, I was amazed at the quickness with which they would write a check. I understand the entire company from top down had that same culture. McClendon bought up assets with wreckless abandon.
In my time associated with CHK as a safety contractor, I was amazed at the quickness with which they would write a check. I understand the entire company from top down had that same culture. McClendon bought up assets with wreckless abandon.
2
Posted on 9/9/13 at 4:31 pm to rmc
quote:
McClendon bought up assets with wreckless abandon.
It seems pretty well known in the industry that while they may have some solid assets, they are significantly over-extended.
Makes sense that they would reorganize, downsize and divest.
Posted on 9/9/13 at 4:44 pm to rmc
Yeah, I knew the history when I hired on. Even if let go tomorrow, the 2 years I spent here were worth it financially.
Only 2 cut today, VP's in HR. I heard there's a delay in paperwork that's holding back the big announcement. As of the first of next year, the two employees that oversaw the employee garden are gone, and so is the garden.
I've already reached out to some connections and can jump back into the field without much of a delay if the need arises. We will find out more about the cuts tomorrow I'm sure.
Thanks for the well wishes everyone.
Only 2 cut today, VP's in HR. I heard there's a delay in paperwork that's holding back the big announcement. As of the first of next year, the two employees that oversaw the employee garden are gone, and so is the garden.
I've already reached out to some connections and can jump back into the field without much of a delay if the need arises. We will find out more about the cuts tomorrow I'm sure.
Thanks for the well wishes everyone.
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