Thread regarding Southwestern Energy Co. layoffs

SWN Conway/Damascus Layoffs 2016

What do we know so far?

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Tesla Motors is coming on strong with affordable electric cars, GMC/Chevy is introducing the Chevy Bolt EV in 2017. Over 300 miles on 1 charge from home. By 2020 Tesla will have a 35k dollar car on the market that will go 1000 miles on a single charge. It's called Economic s. 2025=Goodbye Oilfield. Major Investors all ready jumping on the electric car wagon is just adding to the decline in oil prices. Just saying. Yes this market is a boom and bust industry=Always has been! When supply meets demand-Crash! With new resources in electricity (windmill farms, solar panel farms,ect..) Now Electric Cars will be the future!

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all of the comments from two weeks ago to a month ago are funny. 110 people no way!! That is just what happened this morning...

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Last time they announced it people were laid off the same day. Your point is?

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No official announcement from management, so don't believe the keyboard tough guys.

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This guy sounds like a Bernie sanders supporter

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The guy who thinks he's tuff shit is an incredible idiot. So no fracing or drilling = no layoffs? Swn is deep in debt and it's not hard to find that out. You can even go to swn.com and read last quarter 2 billion dollar fail. The top two floors in conway are now for lease. Another thing about saving money is bullshit. Nobody is a millionaire and the hourly rate is pathetic. What has people worried is the area in arkansas where swn is at is backwoods poor. What do they do now? I'm no longer in the buisness but it is hard to lose a job and healthcare. What do the older generation do? You'll probably go say some dumb stuff like work at mcdonalds or walmart. That would cost an middle class family more money than what is being paid out. Economics 101. There are no other jobs that pay or are hiring in this area. All these people flooding the job market will make it worse. To me you sound like someone in denial and possibly management.

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People are just talking out their asses. No one that would comment here knows anything. 1100 people would be half the company or more. Will there be layoffs? Its almost a given considering SWN and every other producer is pulling rigs from the Fayetteville and moving on to more productive areas. For those that like to blame "inept management", perhaps you shouldn't be working in the oil and gas field. Nearly every company is laying people off and it's due to the price of oil and gas, nothing more, nothing less. It's called a boom and bust business for reason and it happens every few years. Next year or two things will be booming again, and SWN will be throwing cash at people trying to hire enough to keep enough. If you aren't smart enough to save money for the bust/down times, then that is your problem and again, you probably shouldn't be involved with oil and gas.

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That number seems high, don't just post stuff to do it.

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1,100 to be cut from Jan 4-7th. Arkansas hasn't drilled in weeks all of the Rigs are laid down.

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I wonder if wv or pa will feel the cut? It's only fair

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I read in the Arkansas democrat gazette that January 4th all fracking operations in Arkansas will stop until further notice. So in other words were all about to be out of a job.

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Was told by SWN accountant working out of the Houston office that they will be closing the doors shortly after the first of the year following a massive layoff and to try to find another job as soon as possible. It's not a rumor folks the oil and gas industry is going away until after the election. Things won't start to pick back up until 2017 at the earliest. My contacts at Schlumburger said they won't be working at all this next year. Nobody myself included has seen it this bad.

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Where are you hearing that from? Or just taking a guess?

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It is going downhill after the 4th of January. Sorry

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Has there been any announcement from management, regarding the situation?

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We know that a lot of people, likely hundreds are about to be out of a job. When, not if, is the question. Before or after Christmas

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