Devon Business Practices

[ljbab728]

Don't forget the 900 people that were let go by CHK in September (and 100+ SD people earlier as well). Their resumes are still floating around. We've interviewed one of the ex-employees, where I work (no relation to O&G industry), a few weeks back.
Also, who/what is going to absorb these losses? We're going thru a major rut in O&G at this point (with no silver lining in sight). If you add up all the past layoffs, the incoming Devon one, you're looking at around 2500* people in less than a year. This total combined equals quite a few of the largest employers we have in OKC: Greater Oklahoma City Economic Development - Major Employers

Rumor mill: https://www.thelayoff.com/devon-energy

*If DVN loses close to 1500 people.

When I said absorb, I meant that it shouldn't have a major impact on the OKC economy. That doesn't mean no impact, just not a major impact.

[bchris02]

When I said absorb, I meant that it shouldn't have a major impact on the OKC economy. That doesn't mean no impact, just not a major impact.

It will have a larger impact on downtown than OKC as a whole. OKC desperately needs more of an employment base downtown that isn't in the energy sector.

Remember that through the '80s, there was still plenty of growth on the suburban fringe, even though downtown was practically finished off during the period (after its long decline). The 80s and the 90s were the golden age of the Putnam City area.

[catch22]

It will have a larger impact on downtown than OKC as a whole. OKC desperately needs more of an employment base downtown that isn't in the energy sector.

Remember that through the '80s, there was still plenty of growth on the suburban fringe, even though downtown was practically finished off during the period (after its long decline). The 80s and the 90s were the golden age of the Putnam City area.

I don't think it will have as huge of impact as you think. I would bet that a large portio of the Devon workforce live in the suburbs and do not regularly stay downtown after work. They also likely don't eat out for lunch every single day. A lot come and go just like they would any other job.