Is this joyous for anti-shalers? Pioneer Cuts Hundreds of Workers in Texas

[ceo_energemsier + 1,818]

Pioneer Cuts Hundreds of Workers in Texas

Pioneer Natural Resources Co. has laid off 230 employees in Texas, according to local news outlets.

The layoffs, which The Dallas Morning News reported occurred Tuesday, affected 160 employees in the company’s Las Colinas office and 70 employees in its Permian office.

The cuts account for 25 percent of the Permian pure-play company’s workforce and are part of its corporate restructuring efforts to eliminate $100 million in general and administrative (G&A) costs.

“As a leader in the Permian Basin, we continue to take steps to reduce our cost structure. We ended last year by executing on strategic initiatives to materially reduce our drilling, completion and facilities capital. We are now taking action to reduce our corporate general and administrative costs,” Pioneer CEO Scott Sheffield said in the company’s first quarter financial and operating report.

Earlier this month, Pioneer asked one-third of its senior managers to retire.

Those affected in Tuesday’s layoffs will reportedly receive severance as well as job search assistance.

Pioneer could not be reached for comment as of press time.

[ceo_energemsier + 1,818]

Just now, ceo_energemsier said:

Pioneer Cuts Hundreds of Workers in Texas

Pioneer Natural Resources Co. has laid off 230 employees in Texas, according to local news outlets.

The layoffs, which The Dallas Morning News reported occurred Tuesday, affected 160 employees in the company’s Las Colinas office and 70 employees in its Permian office.

The cuts account for 25 percent of the Permian pure-play company’s workforce and are part of its corporate restructuring efforts to eliminate $100 million in general and administrative (G&A) costs.

“As a leader in the Permian Basin, we continue to take steps to reduce our cost structure. We ended last year by executing on strategic initiatives to materially reduce our drilling, completion and facilities capital. We are now taking action to reduce our corporate general and administrative costs,” Pioneer CEO Scott Sheffield said in the company’s first quarter financial and operating report.

Earlier this month, Pioneer asked one-third of its senior managers to retire.

Those affected in Tuesday’s layoffs will reportedly receive severance as well as job search assistance.

Pioneer could not be reached for comment as of press time.

Well, this may give us a chance to hire some very good talent!!!!!!

[J.mo + 165]

The way that I take this is that it is office and administrative staff. Not field labor. 

Which can be constricted, and generally should be by pushing for higher productivity and workload per capita through technology and efficiencies. I rarely see these types of layoffs as bad news, as opposed to the layoffs of field service staff in a scenario like this. 

[Old-Ruffneck + 1,177]

6 hours ago, J.mo said:

The way that I take this is that it is office and administrative staff. Not field labor. 

Which can be constricted, and generally should be by pushing for higher productivity and workload per capita through technology and efficiencies. I rarely see these types of layoffs as bad news, as opposed to the layoffs of field service staff in a scenario like this. 

G & A General and Admin positions. Bet more office help than field labor.