Sandridge Layoffs

[Kerry]

As some one who was laid off myself 2 days before Thanksgiving I agree that it sucks. I had an employment contract that was expiring and was told it was going to be renewed. I was sent a meeting invite by my manager and I assumed he was going to let me know of the renewal - however, he told me I had 3 weeks left and they weren't renewing. No severence pay and I was out of work until January 12th. Life goes on and no one owes me anything except pay for time worked.

I have also been involved from the decision side when layoff were made (I was an HR Information Senior Officer). Executive management simply asked me to run a report for each department ranked by salary. They got rid of the people at the top of the list. If you got laid off it was because you were making more than everyone in your department.

On the political front, as elections have conseqences, I wonder if the decision has anything to do the Obama administrations all out war on the traditional energy industry.

Obama Signs Bill Protecting 2 Million Acres as Wilderness - First 100 Days of Presidency - Politics FOXNews.com

Read the last sentence.

[OKCMallen]

I didn't realize some people were escorted out by security. I was "badged out" by an HR rep so I could get out of the building. I then drove down to the loading dock where someone helped me put my things in the car. I don't understand why they thought some people needed security and some did not.

I also don't understand how they made their decision. When you line up those who were laid off, some people make sense and some do not...at all.

As far as jobs go, I'm fortunate enough to have an interview set up for next week in Dallas. It is just an interview but it is certainly a step in the right direction.

It just saddens me that after 13 months here in OKC, it looks like I will have to move away, to Dallas, to Houston (god I hope not!), or who knows where. In my field and in this job market, I don't really have a choice. I was really getting used to living here and enjoying all the wonderful things the city has to offer.

I'm just hoping for a big rally today on Wall Street.

I hope you can find some work around here before that happens. (I wouldn't wish houston on anyone!)

[OKCMallen]

As some one who was laid off myself 2 days before Thanksgiving I agree that it sucks. I had an employment contract that was expiring and was told it was going to be renewed. I was sent a meeting invite by my manager and I assumed he was going to let me know of the renewal - however, he told me I had 3 weeks left and they weren't renewing. No severence pay and I was out of work until January 12th. Life goes on and no one owes me anything except pay for time worked.

I have also been involved from the decision side when layoff were made (I was an HR Information Senior Officer). Executive management simply asked me to run a report for each department ranked by salary. They got rid of the people at the top of the list. If you got laid off it was because you were making more than everyone in your department.

On the political front, as elections have conseqences, I wonder if the decision has anything to do the Obama administrations all out war on the traditional energy industry.

Obama Signs Bill Protecting 2 Million Acres as Wilderness - First 100 Days of Presidency - Politics FOXNews.com

Read the last sentence.

For our local companies, the problem isn't available, drillable land so much as it is natural gas prices.

[sgt. pepper]

I wonder if OKCMallen = Tom Ward.

lol, i was begining to wonder the same thing.

[OKCMallen]

I wish. I'd buy everyone in this thread dinner tonight to discuss.

[Kerry]

For our local companies, the problem isn't available, drillable land so much as it is natural gas prices.

Prices have a part to do with it, but if you have proven reseves that you can no longer tap, that cuts into your value. If you have a 2,500 sq ft house that is worth $250,000 and then you are told you can't live in or use 500 sq ft of it, is your home still worth $250,000? What if someone says that in the near future people won't be allowed to live in single family homes anyhow, does that have an impact on the value of your now 2,000 sq ft home? Sure it does - what doesn't go away is the money you spent on the house in building and repairs. Your cost per sq foot of living space goes up and due to future regulation you have no way to recoop your expenses. The same thing applies to our energy industry.

[OKCMallen]

Prices have a part to do with it, but if you have proven reseves that you can no longer tap, that cuts into your value. If you have a 2,500 sq ft house that is worth $250,000 and then you are told you can't live in or use 500 sq ft of it, is your home still worth $250,000? What if someone says that in the near future people won't be allowed to live in single family homes anyhow, does that have an impact on the value of your now 2,000 sq ft home? Sure it does - what doesn't go away is the money you spent on the house in building and repairs. Your cost per sq foot of living space goes up and due to future regulation you have no way to recoop your expenses. The same thing applies to our energy industry.

Nothing wrong with your logic. But the fact is that these companies were drilling as fast as possible for years and still had holdings in TX, LA, OK, WV, they hadn't come close to fully developing.

Your argument speaks very well to crude, but not as well to natural gas. And CHK, SD, Devon are very heavily natural gas (Devon more into oil than the others, I believe).

[Kerry]

Nothing wrong with your logic. But the fact is that these companies were drilling as fast as possible for years and still had holdings in TX, LA, OK, WV, they hadn't come close to fully developing.

Your argument speaks very well to crude, but not as well to natural gas. And CHK, SD, Devon are very heavily natural gas (Devon more into oil than the others, I believe).

As the CEO of a major natural gas company - I will take your word for it.

[OKCMallen]

As the CEO of a major natural gas company - I will take your word for it.

Hehe. Again, if I were TLW, dinner's on me Kerry, anyplace you want!!!

[FFLady]

As the CEO of a major natural gas company - I will take your word for it.

(that was kinda funny)............

[soonerguru]

No offense, but has anyone noticed how clueless HR people are about making good hires? They couldn't find a good employee if their life depended on it. I find it somewhat sad -- and yet amusing -- that Kerry exposes the wizard behind the curtain. They simply fire people based on their salary. Lovely.

[OKCMallen]

Guru- Well, when the goal is to cut costs, that seems like a good place to start...?

[soonerguru]

Guru- Well, when the goal is to cut costs, that seems like a good place to start...?

One would hope the value of the employee to the company would also be a consideration.

[venture]

No offense, but has anyone noticed how clueless HR people are about making good hires? They couldn't find a good employee if their life depended on it. I find it somewhat sad -- and yet amusing -- that Kerry exposes the wizard behind the curtain. They simply fire people based on their salary. Lovely.

HR really isn't what people believe it is or what the handbooks say they are. Their main goal and function is to ensure the natives aren't acting out and if a situation comes up, snuff it out right away by any means. I've been in the Fortune 500 world, I've been in the start up world - it is night and day. The bigger the company the more clueless and less human-oriented HR becomes. After a few years back in, I'm glad that I've been out of that routine for the last couple years. Granted setting my own vacation policy is fun too. ; )

[scootinger]

One would hope the value of the employee to the company would also be a consideration.

Like the infamous example of Circuit City...several years ago, they fired a bunch of knowledgeable and relatively well-paid sales staff from their company, then offered to hire them into lower-paying positions. The quality of service at their stores went down the drain, and look where they are now!

[Baylor79]

No offense, but has anyone noticed how clueless HR people are about making good hires? They couldn't find a good employee if their life depended on it. I find it somewhat sad -- and yet amusing -- that Kerry exposes the wizard behind the curtain. They simply fire people based on their salary. Lovely.

It's beyond HR at SandRidge, it's management. HR may feed them the resumes, but management makes the decision on who to interview or who to hire. What seems to be the clincher for getting a job was a) Alma mater B) attractiveness c) ability to take marching orders. In my opinion, the brightest employees were put on the back burner for others who were really good at appearing to be productive, and showing pretty pictures that were the scientific equivalent of "fuzzy math". Some that were let go should have never been hired in the first place, or let go after before their 90 days were up. Others, like Taylor83 stated, were a complete mystery--and they didn't make the top salaries, either. They did the job of those that made the higher salaries and stayed employed.

[osupokesno1]

Chesapeake has now officially started their layoffs in OKC too...

[Kerry]

No offense, but has anyone noticed how clueless HR people are about making good hires? They couldn't find a good employee if their life depended on it. I find it somewhat sad -- and yet amusing -- that Kerry exposes the wizard behind the curtain. They simply fire people based on their salary. Lovely.

It is worse than you can imagine. A company I worked for in Tampa had a special project to streamline IT operations and they need 10 more people for the project. We couldn't increase headcount so we had to lay 10 people off to make room. At the request of executive management I ran the report of IT people ranked by salary. We let go of the top 10 people. Sadly, 9 of those people were running the special project that the 10 new people were supposed to work on.

My manager (Director of HR) once made the comment that our company bent over backwards for every executive whim. I told her, "No we don't, we bend over forward."

[Kerry]

Hehe. Again, if I were TLW, dinner's on me Kerry, anyplace you want!!!

Ruth's Chris - there are 2 here in Jacksonville.

[osupokesno1]

Well Chesapeake has now started their layoffs also.

[kevinpate]

.oO(Mr. Incognito, if you need a driver, I'm available)Oo.

[soonerguru]

They started their layoffs on Sunday afternoon? That's strange.

[montereyray]

What really bothered me about the SandRidge layoffs was the all the lies which were told to me in the interview process. I was told SandRidge was different from other companies and how employees were put first. Employees are stakeholders in the company, its not just Tom’s company its your company as well. They also kept on about how they focus on giving back to the community. Well they are giving back to the community in the form of unemployed workers.

[OKCMallen]

One would hope the value of the employee to the company would also be a consideration.

Business people aren't stupid. They typically don't fire people that aren't expendable.

[OKCMallen]

Well Chesapeake has now started their layoffs also.

Link or untrue.