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  1. Default Re: SandRidge Energy News

    My sister got let go this morning. Granted she had a job that I'm surprised that lasted this long (HR/travel coordinator) but still. I expect to hear more news on layoffs. Especially since I saw the email they sent to employees saying they aren't paying for snacks anymore and reevaluating janitorial services.

  2. #227

    Default Re: SandRidge Energy News

    Quote Originally Posted by worthy cook View Post
    My sister got let go this morning. Granted she had a job that I'm surprised that lasted this long (HR/travel coordinator) but still. I expect to hear more news on layoffs. Especially since I saw the email they sent to employees saying they aren't paying for snacks anymore and reevaluating janitorial services.
    Wow, janitorial services? Why would they even tell employees that?

    The tower continues to be dark every night; quite the metaphor.

  3. #228

    Default Re: SandRidge Energy News

    I guess the tower is about to be smelly and trashy as well as being dark.

    Future Memo.
    " In order to save costs employees must bring toilet paper from home and workstations must be powered for four hours of the work day."

  4. #229

    Default Re: SandRidge Energy News

    Quote Originally Posted by jn1780 View Post
    I guess the tower is about to be smelly and trashy as well as being dark.

    Future Memo.
    " In order to save costs employees must bring toilet paper from home and workstations must be powered for four hours of the work day."
    Do they own the tower? It's about time the sell it if they do. They could probably get a hefty sum for it and then consolidate into class-B office space or the Parkside building.

  5. Default Re: SandRidge Energy News

    Sorry to hear about your sister's job. Is Sandridge actually profitable?

  6. #231

    Default Re: SandRidge Energy News

    Sandridge layoff chatter heating up:

    SandRidge Energy Inc. Layoffs - TheLayoff.com

  7. #232

    Default Re: SandRidge Energy News

    I was told 30% layoffs at SD of the 300 to 500 people that work downtown.

  8. Default Re: SandRidge Energy News

    For what its worth my sis said 100+ so those numbers are probably accurate

  9. Default Re: SandRidge Energy News

    Seems the activist shareholders did quite the job in righting the ship.

  10. Default Re: SandRidge Energy News

    Quote Originally Posted by Pete View Post
    I was told 30% layoffs at SD of the 300 to 500 people that work downtown.
    Heard the same.

  11. #236

    Default Re: SandRidge Energy News

    can't believe they waited this long. after the layoffs they need to officially announce they are up for sale. it does no good to delay as every day they wait, they get closer to bankruptcy.

  12. #237

    Default Re: SandRidge Energy News


  13. #238

    Default Re: SandRidge Energy News

    Quote Originally Posted by BillyOcean View Post
    can't believe they waited this long. after the layoffs they need to officially announce they are up for sale. it does no good to delay as every day they wait, they get closer to bankruptcy.
    Their balance sheet looks fine. They'll pull through.

  14. Default Re: SandRidge Energy News

    Quote Originally Posted by BillyOcean View Post
    can't believe they waited this long. after the layoffs they need to officially announce they are up for sale. it does no good to delay as every day they wait, they get closer to bankruptcy.
    Is that why its stock price went UP after they announced the layoffs?

  15. #240

    Default Re: SandRidge Energy News

    Quote Originally Posted by Of Sound Mind View Post
    Is that why its stock price went UP after they announced the layoffs?
    1 hour/day/week of positive gain in stock price means absolutely nothing to the overall health of a company. Additionally, not sure where you get your stock prices, but they are currently in the red for the day (and it has nothing to do with layoffs).

  16. #241

    Default Re: SandRidge Energy News

    A huge group of SD employees that got laid off are drinking in DD right now. Hell of a [sh!tty] way to start your 3 day weekend.

  17. #242

    Default Re: SandRidge Energy News

    Quote Originally Posted by Anonymous. View Post
    A huge group of SD employees that got laid off are drinking in DD right now. Hell of a [sh!tty] way to start your 3 day weekend.
    So many corporations treat people like dirt when they're through with them. I'm not religious, but I respect those who are, and for many people this is a holy weekend with a deep emotional tie. To do this on Good Friday is reprehensible - but all too typical - corporate behavior.

  18. Default Re: SandRidge Energy News

    I have worked at several companies who demand loyalty from their employees - right up until they lay them off, then its "there's the door; we need to save some money for the next 6 months".

  19. Default Re: SandRidge Energy News

    Oil companies are generally some of the most unethical companies in any industry. They typically abuse the environment, they hoard money and price gouge customers when things are going good and they are quick to terminate employment when things turn bad. They never stop patting them selves on the back either.

    They make, or made, a lot of money for our state so they are quick to throw their weight around too and basically make & enforce laws & planning as they see fit. Its truly a wild wild west / mad men industry.

  20. #245

    Default Re: SandRidge Energy News

    I heard 6 months of salary as severance

  21. #246

    Default Re: SandRidge Energy News

    Quote Originally Posted by blangtang View Post
    I heard 6 months of salary as severance
    Rough…

    I wonder if one could make a hell of a living over a few years getting laid-off with a 6 month severance and within a couple months finding another troubled but stable company that's still hiring and work there until you get laid off a year later with another 6 months of severance and find another job that you can stick with for a couple years. In 24 months, you could be out of work for 6 months and collect 30 months worth of salary. Then get fired again with another 6 months of severance and start a consulting firm that you use to contract labor at all 3 of your previous places of employment using the connections and skills you learned at those places.

  22. #247

    Default Re: SandRidge Energy News

    Quote Originally Posted by blangtang View Post
    I heard 6 months of salary as severance
    That's correct. Every single department across the board got hit. It wasn't as bad as I thought it was going to be though. I figured we would be hit by about 30-40% layoffs. For instance one department I know of with 50 people only had 3 people laid off. Was expecting closer to 10 people.

  23. #248

    Default Re: SandRidge Energy News

    Quote Originally Posted by Scotty22 View Post
    That's correct. Every single department across the board got hit. It wasn't as bad as I thought it was going to be though. I figured we would be hit by about 30-40% layoffs. For instance one department I know of with 50 people only had 3 people laid off. Was expecting closer to 10 people.
    Agreed that the number seems low due to the current shape of the company and the huge reduction of rigs from 30+ to 8. I think there will be more layoffs in next 60-90 days. 20% just isn't enough if they are truly trying to save the company.

  24. Default Re: SandRidge Energy News

    Quote Originally Posted by jccouger View Post
    Oil companies are generally some of the most unethical companies in any industry. They typically abuse the environment, they hoard money and price gouge customers when things are going good and they are quick to terminate employment when things turn bad. They never stop patting them selves on the back either.

    They make, or made, a lot of money for our state so they are quick to throw their weight around too and basically make & enforce laws & planning as they see fit. Its truly a wild wild west / mad men industry.
    Oil companies are also some of the better employers as far as high pay goes. When times are good, a lot of folks do real well.

  25. Default Re: SandRidge Energy News

    6 months severence will certainly soften the blow. Heck, they might have even had some volunteers for that offer.

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