CHK layoffs | TigerDroppings.com

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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9633 posts

CHK layoffs



So we are starting another round of layoffs and the rumors are ridiculous. They just let to of our VP of Human Resources this morning, and the talk is anywhere from 500 to a third of the company either today, or by the end of the month. I don't know where I stand personally; somewhere between employed and seeking employment.

What does the money board see happening with chk? Are we (they) being liquidated under new CEO and Icahn? Are they just cutting waste and reigning in needless spending?

Ive always thought this was realignment and getting rid of unnecessary positions, but I'm not the most business savvy of people.







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4LSU2
LSU Fan
Madisonville
Member since Dec 2009
22655 posts

re: CHK layoffs


That has to be an excruciating thing to deal with for every employee. Prayers sent man.





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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
21624 posts

re: CHK layoffs


Well the good thing is you're in a field that is in demand. Goodluck.





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The Egg
LSU Fan
Houston, TX
Member since Dec 2004
58166 posts

re: CHK layoffs


quote:

That has to be an excruciating thing to deal with for every employee. Prayers sent man.
just went through this with my current company.

good luck...shit's not fun at all.






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TJG210
LSU Fan
New Orleans
Member since Aug 2006
22091 posts

re: CHK layoffs


Yikes......good luck man. Too bad the government doesn't do the smart thing and stop with the alternative fuel foolishness and transition us to natural gas as a fuel source.......instead of that ethanol shite.





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OTIS2
LSU Fan
NoLA
Member since Jul 2008
26799 posts

re: CHK layoffs


Best of luck.





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rmc
LSU Fan
Zachary, LA
Member since Sep 2004
22547 posts

re: CHK layoffs


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.






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kennypowers816
LSU Fan
Houston
Member since Jan 2010
1863 posts

re: CHK layoffs


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.






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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9633 posts

re: CHK layoffs


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.






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Nobs
LSU Fan
Pearland, Tx
Member since Dec 2010
279 posts

re: CHK layoffs


The only incite I could provide is I would assume is has to do with natural gas prices and the bs with fracking.

I work for Shell and a buddy of mine in onshore gas said we have put all but one project in a holding pattern. I expect a reorganization of that group soon.






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lsufan77379
LSU Fan
The Woodlands,TX
Member since Sep 2008
503 posts

re: CHK layoffs


I assume the "Offshore" namesake is outdated if you work for CHK now? If you don't mind me asking, what line of the business you in?





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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9633 posts

re: CHK layoffs


That's correct. I'm in drilling support. WellView system admin. Also work with other Peloton products; SiteView, RigView.





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lsufan77379
LSU Fan
The Woodlands,TX
Member since Sep 2008
503 posts

re: CHK layoffs


So where have most of your recent jobs been at?





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cwill
New Orleans Saints Fan
Member since Jan 2005
24703 posts

re: CHK layoffs


You shoulda jumped last yr when you first asked....that being said you should move on regardless of the layoffs...And this time find a company based in Houston so that if this happens to you again you have 500+ options without moving.





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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9633 posts

re: CHK layoffs


I've been in OKC for 2 years with Chesapeake. Before then, over 2 years in chevron office in Lafayette, and about 10 years on rigs in the gulf.

I've been doing a lot of talking with companies in Houston, and have since the last time I brought this up. I had a non-compete contract cockblock me from a position with noble just 2 weeks ago. So far, none of the Houston offers have been where I need it financially or I would have made the jump already.






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Alter X
LSU Fan
Lafayette, La.
Member since Apr 2008
627 posts

re: CHK layoffs


Is a non-compete contract still valid if you get laid off?





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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9633 posts

re: CHK layoffs


quote:

Is a non-compete contract still valid if you get laid off?


Nope. I've spoken with the recruiting firm and the position is still open with noble should I be laid off.






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crankbait
LSU Fan
Member since Feb 2008
9535 posts

re: CHK layoffs


quote:

Is a non-compete contract still valid if you get laid off?


I would lol if a company presented those terms to me






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BROffshoreTigerFan
USA Fan
Youngsville
Member since Oct 2007
9633 posts

re: CHK layoffs


Vp's getting cut left and right. A dozen since yesterday. Rumor is going from 75 to around 25.





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Zilla
LSU Fan
Friendswood, TX
Member since Jul 2005
9971 posts

re: CHK layoffs


so do you think Icahn wants to sell ?







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