Sandridge Layoffs

[metro]

Untrue:

The Journal Record - Article

[osupokesno1]

Link or untrue.

Link or untrue? An EMPLOYEE posted on another board that he and other employees were laid off. I will give you a link to his post. I guess since he says it and the news hasn't that means it's untrue though. Some people really crack me up.

OStateIllustrated.com - Message Boards

[osupokesno1]

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

Who said they started them on Sunday afternoon? Did I give a date? My goodness gracious.

[wsucougz]

This quote struck me:

“In short, Chesapeake was early to see this downturn coming, we prepared for it and now are taking advantage of our many competitive advantages to prosper during it,” Gipson said.

So why was Aubrey loading the boat at $65/share?

[Insider]

This quote struck me:

“In short, Chesapeake was early to see this downturn coming, we prepared for it and now are taking advantage of our many competitive advantages to prosper during it,” Gipson said.

So why was Aubrey loading the boat at $65/share?

Because the quote is probably untrue! They got lucky and are now trying to spin it to seem like they 'could see this downturn coming!"

[OKCMallen]

CEO's stock decisions != company's reaction to downturn.

[wsucougz]

CEO's stock decisions != company's reaction to downturn.

Of course they were hedged. They always hedged. It was not a "reaction to downturn."

The reaction to the downturn was when they started liquidating assets. If they were in fact early to see the downturn coming, wouldn't they have been selling assets near the peak?

If Aubrey saw this coming, he would have positioned the company as such and refrained from buying shares on margin at the peak.

[soonerguru]

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

I'm sure the people on this thread who were laid off appreciate you calling them "expendable." You should quit while you're ahead. You've made your point.

What is implicit in your commentary is that upper management always makes the right call on hires and fires. My experience in the employment sector begs to differ.

[OKCMallen]

I'm sure the people on this thread who were laid off appreciate you calling them "expendable." You should quit while you're ahead. You've made your point.

What is implicit in your commentary is that upper management always makes the right call on hires and fires. My experience in the employment sector begs to differ.

I said "typically". Which you interpreted as me saying "always". I guess it helps bolster your argument when you fundamentally change what I said.

Thing is- chances are you aren't smarter than the people that make these decisions. It's not some blindfolded monkey throwing darts at a list of employees to layoff. These people are sophisticated, business-savvy decision makers. That's not to say they don't make mistakes; sure they do, and often. But your above implication that they only fire the highest-paid people within departments without any consideration of their value to the company is naive and not well-considered. In fact, it was so off-kilter that it makes me question your credibility altogether, especially since you're holding yourself out as someone that is "experienced" in the employment sector.

[soonerguru]

But your above implication that they only fire the highest-paid people within departments without any consideration of their value to the company is naive and not well-considered.

Whatever pal. Kerry said that is exactly what they did at the company he worked for. That's what I was responding to. You're right that this does not "always" happen. It's been my experience, however, that it is a good idea not to get paid too much or earn too much in corporate America. One does not want to be a budget target. How many times have you heard of people fired right before they were to receive their pensions? It happens all the time.

Anyone who places faith in corporate America to have their back as an employee is a fool at this point.

[Baylor79]

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

That's like saying Attorneys aren't stupid---they typically don't take cases they won't win. (yeah, I know you're an attorney )

Sometimes upper management doesn't know they're expendable until they are gone. Unless you are running up to the boss' boss' boss to tell them what you are doing, by the time it gets that far up the chain, they have no clue.

The people that were cut won't be replaced, they are just having the people that are still at SD doing their job--and in several cases, also doing the job of the person whose job the laid-off employee was doing but who is still there. Confusing, eh?

I agree with you on the CHK layoff crier. Either give some details or stop trying to predict the future as reality.

[OKCMallen]

Whatever pal. Kerry said that is exactly what they did at the company he worked for. That's what I was responding to. You're right that this does not "always" happen. It's been my experience, however, that it is a good idea not to get paid too much or earn too much in corporate America. One does not want to be a budget target. How many times have you heard of people fired right before they were to receive their pensions? It happens all the time.

Then qualify your statements down to say what you mean.

Anyone who places faith in corporate America to have their back as an employee is a fool at this point.

That's another thread entirely...one in which we'd likely agree more.

[soonerguru]

Then qualify your statements down to say what you mean.

Yes, sir, Mr. "corporate America always makes the right hires and people laid off are typically deserving."

I don't believe either your language or rhetoric are as precise and consistent as you wish to believe.

[Kerry]

Whatever pal. Kerry said that is exactly what they did at the company he worked for. That's what I was responding to. You're right that this does not "always" happen. It's been my experience, however, that it is a good idea not to get paid too much or earn too much in corporate America. One does not want to be a budget target. How many times have you heard of people fired right before they were to receive their pensions? It happens all the time.

Anyone who places faith in corporate America to have their back as an employee is a fool at this point.

You should only put faith in yourself (and God for us religious zealots). I know several people that were laid off within a year of retirement, but I will say that for the line of work I do, I usually don't work for well run organizations so that probably explains a lot of the stupid things I see executive management do. They simply aren't good at their jobs.

For those new to the job world let me give you this advice - only accept cash in exchange for your labor. No stock options, no pension, no bonuses.

[OKCMallen]

Yes, sir, Mr. "corporate America always makes the right hires and people laid off are typically deserving."

I don't believe either your language or rhetoric are as precise and consistent as you wish to believe.

I believe your last statement because it's evident you don't read for comprehension and consideration, but rather to just react. Instead of merely waiting for your turn to talk, you should try actively listening/reading.

Never anywhere did I say people laid off are typically DESERVING of that, nor did I say that corporate America ALWAYS makes the right hires. I said that corporations don't typically fire people that aren't expendable. That's not even remotely the same.

You're just making things up now. Let it go.

[buylow]

Yes, sir, Mr. "corporate America always makes the right hires and people laid off are typically deserving."

"deserving" and "expendable" are not even close to the same.

[dallastransplant]

For those who have not worked at SandRidge, it is easy to create responses as to "why" people were or were not laid off. As a person who has been there, done that, I can tell you that based upon my knowledge of some of the people who were layed off, they were the ones who were older or not from Chesapeake or not from Tom's church. Neither of those 3 descriptions make for a good or bad employee, just one that generally gets hired first and fired last.

[soonerguru]

Mr. Mallen,

I have survived quite well in my life, and my reading comprehension has rarely if ever been questioned. You're trying to back away from dumb statements, but you can't. I pointed out that corporate America often relies upon dumb, non-business reasons for laying people off, echoing Kerry's thread. You picked a fight, and then implied that management "typically" lays people off who are "expendable."

You just sound like a shill for corporations, and have demonstrated no real empathy for the many people on this thread who are now out of work. Hopefully you don't find yourself in the same position someday. I suspect your expert advice would fall short in ameliorating the pain and misfortune of your circumstances.

[MikeOKC]

For those who have not worked at SandRidge, it is easy to create responses as to "why" people were or were not laid off. As a person who has been there, done that, I can tell you that based upon my knowledge of some of the people who were layed off, they were the ones who were older or not from Chesapeake or not from Tom's church. Neither of those 3 descriptions make for a good or bad employee, just one that generally gets hired first and fired last.

Seriously? Wouldn't surprise me here in the Bible belt. Where does he go to church?

[dallastransplant]

Crossings

[fourthworldtraffic]

Capitalism is brutal ..That's the game...Humane or inhumane has got nothing to do with it. It's not designed to be nice and sustainable over time. It's a hit and pillage and on to the next sort of thing.Beat your market to death and on to the next.It is a very disposable and disposed of mentality this end game there...Milton, is there no follow up
plan..?

[Pete]

BTW, any lack of loyalty in the employer/employee relationship is very much a two-way street.

Workers barely hesitate to leave a company for a better opportunity -- especially when the economy/industry is hot. Often, a business will make a substantial investment in an employee in terms of training and offering opportunities for growth, only to have that person leverage all that into another job elsewhere.

Businesses have to be able to expand and contract as their needs dictate, just like employees should be free to move on to something they deem more appealing.

It is capitalism in its purest form, and the brutality cuts both ways.

[okclee]

very well said, Pete.

[soonerguru]

Good points, Pete.

[GWB]

Crossings

Not true.