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Navigating Rehire Waves at Diamondback Energy: Strategies for Returning to Familiar Shores

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Healthcare Provider Update: Healthcare Provider for Diamondback Energy Diamondback Energy partners with UnitedHealthcare as its healthcare provider. This relationship is significant as UnitedHealthcare is one of the largest health insurers in the United States, offering a comprehensive range of plans that cater to the diverse needs of Diamondback's workforce. Healthcare Cost Increases in 2026 In 2026, the healthcare landscape is anticipated to face considerable challenges, particularly for Diamondback Energy and its employees. With health insurance premiums for ACA marketplace plans projected to rise sharply-potentially by over 75% for many enrollees-the impact of expiring federal premium subsidies will be profoundly felt. This scenario is compounded by rising medical costs, with forecasts suggesting that many states may experience increases as steep as 66%, significantly affecting overall healthcare affordability for Diamondback's workforce. As these changes unfold, it is crucial for companies like Diamondback Energy to strategize on managing healthcare-related expenses effectively to support their employees amidst a fluctuating market. Click here to learn more

'Diamondback Energy employees should view rehiring opportunities not just as a return to familiar ground, but as a strategic career move to leverage experience and negotiate improved terms, especially in today's fluid labor market,' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'Diamondback Energy employees navigating rehiring offers should carefully assess their financial goals and career growth opportunities before returning, turning workforce shifts into a strategic advantage,' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

  1. Evaluating whether to return to a former employer after a layoff.

  2. How companies like Diamondback Energy are using technology to streamline rehiring.

  3. The strategic advantages for both employees and employers in the rehire process.

Many Diamondback Energy employees, along with others in the energy sector, have experienced the flux of being laid off and then rehired, reflecting the unpredictable waves of the labor market. Notably, even industry giants like Diamondback Energy have been part of this trend, recalling employees to navigate through the changing economic landscapes and operational needs.

The decision to return isn't merely about accepting a job offer; it involves a thorough assessment of one’s financial status and other available job prospects. Career adviser Debra Wheatman recommends that individuals evaluate their current financial health and job market opportunities to make a well-informed decision.

Gaining a bit of leverage is often a part of this process. As Wheatman points out, returning employees might have the opportunity to negotiate better terms than before, potentially leading to improved roles, higher compensation, or more stable job conditions at Diamondback Energy.

However, individual stories reveal diverse experiences. For example, after a brief layoff from a marketing agency, Jessica Swenson chose to return as a contractor, finding that the flexibility better suited her career aspirations, emphasizing the growing importance of adaptability in professional settings.

Conversely, Kristie Jones, who dealt with an impersonal layoff process, opted not to return to her previous employer, moving instead into consultancy. This shift underscores a common path for many who seek independence after corporate disenchantments.

Diamondback Energy is leveraging advanced technologies like artificial intelligence through platforms like Visier, which meticulously track employment records to streamline the rehiring process. This methodical approach aids in aligning qualified candidates with suitable positions efficiently, utilizing detailed data analysis [source needed].

Moreover, the corporate recognition of rehiring's advantages, such as reduced onboarding time and familiarity with company culture, is increasing. Reemployed individuals often adapt more quickly and cost-effectively, providing a quicker return on investment for the company.

The manner in which layoffs are executed is crucial, as it affects the likelihood of rehiring. Fostering a respectful layoff process helps preserve professional relationships and keeps a pool of potential candidates ready for when market conditions favor reemployment.

Matt Massucci, CEO of Hirewell, notes that the reasons behind a separation—be it performance issues, strategic shifts, or economic factors—greatly influence rehire possibilities. Both Diamondback Energy and its workforce must navigate these complexities with a clear understanding of each other's perspectives.

Ultimately, the decision to return to Diamondback Energy should come after thoughtful consideration of the pros and cons, influenced by the initial separation's circumstances. As the labor market evolves, such decisions are increasingly viewed as strategic career moves rather than mere opportunities.

The concept of 'unretirement' is becoming prevalent, especially among older workers nearing retirement age. A significant portion of retirees reenters the workforce, driven by the need for engagement or financial necessities. Companies, including Diamondback Energy, appreciate the unique perspectives and reliability that seasoned professionals bring during turbulent economic periods.

Explore how to handle rehire proposals and draw on your experience when considering a return to Diamondback Energy after a layoff. Learn from others who have navigated this path successfully and understand how your familiarity with the company can reduce onboarding challenges and facilitate a smoother reintegration.

Reflecting on the labor market's fluid nature, consider the analogy of ocean tides. Just as tides ebb and flow, Diamondback Energy might reduce its workforce during downturns but also reengage skilled professionals when conditions improve. For those seasoned in navigating these shifts, it presents an opportunity to reassess and potentially return to a familiar environment, equipped with experience and strategic foresight.

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Source:

1. Weber, Lauren. 'The Company That Laid You Off Wants You Back. What Do You Say?'  The Wall Street Journal , 24 Apr. 2025,  www.wsj.com/articles/company-layoffs-rehiring-employees-2025 .

2. Cadmus, Jay. 'I Was Laid Off at 55 and Took 6 Months to Find a Job.'  Business Insider , June 2024,  www.businessinsider.com/laid-off-older-workers-rehire-job-hunt-2024-6 .

3. Schooley, Skye. 'Best Layoff Practices: Can You Lay Off and Hire at the Same Time?'  Business News Daily , 23 Oct. 2023,  www.businessnewsdaily.com/15785-layoff-rehire-best-practices.html .

4. Cook, Ian. 'Hiring After Layoffs: What Employers Need To Know.'  Visier , 19 Sept. 2023,  www.visier.com/blog/hiring-after-layoffs/ .

5. Fischman, Wendy. 'Rehiring Furloughed and Laid-Off Workers Post-Pandemic.'  Potomac Law Group , 13 May 2020,  www.potomaclaw.com/news-rehiring-furloughed-laid-off-workers .

What type of retirement plan does Diamondback Energy offer?

Diamondback Energy offers a 401(k) retirement savings plan to help employees save for their future.

Is there a company match for contributions to the 401(k) plan at Diamondback Energy?

Yes, Diamondback Energy provides a company match for employee contributions to the 401(k) plan, enhancing your retirement savings.

How can I enroll in the 401(k) plan at Diamondback Energy?

Employees can enroll in the Diamondback Energy 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What is the eligibility requirement to participate in Diamondback Energy's 401(k) plan?

Most employees at Diamondback Energy are eligible to participate in the 401(k) plan after completing a specified period of service.

What investment options are available in Diamondback Energy's 401(k) plan?

Diamondback Energy's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Can I change my contribution percentage to the 401(k) plan at Diamondback Energy?

Yes, employees can change their contribution percentage to the Diamondback Energy 401(k) plan at any time, subject to certain guidelines.

Does Diamondback Energy offer loans against the 401(k) plan?

Yes, Diamondback Energy allows employees to take loans against their 401(k) plan balance, subject to the plan's terms and conditions.

How often can I change my investment allocations in the Diamondback Energy 401(k) plan?

Employees can change their investment allocations in the Diamondback Energy 401(k) plan as frequently as they wish, typically through the plan’s online portal.

What happens to my 401(k) if I leave Diamondback Energy?

If you leave Diamondback Energy, you have several options for your 401(k), including rolling it over to another retirement account, cashing it out, or leaving it in the Diamondback plan if eligible.

Are there any fees associated with the Diamondback Energy 401(k) plan?

Yes, there may be administrative fees and investment-related fees associated with the Diamondback Energy 401(k) plan, which are disclosed in the plan documents.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
For Diamondback Energy, the company offers a 401(k) plan under the name "Diamondback Energy 401(k) Plan" with eligibility based on service and age requirements that vary slightly depending on employee classification. The company uses industry-specific terminology and acronyms, including "FANG" as its stock symbol and commonly referring to its operations as part of the Permian Basin. For its pension plan offerings, while there is no traditional defined benefit pension available, Diamondback provides substantial retirement contributions through its 401(k) plan, matching employee contributions up to 6% of salary​ (Diamondback Energy)​ (Diamondback Energy). Regarding the years of service and age qualification, employees typically become eligible for Diamondback Energy’s 401(k) match after completing one year of service. The matching contributions are vested gradually, with full vesting occurring after 5 years of service. While detailed documentation does not explicitly list a traditional pension formula, the 401(k) match is a significant part of their retirement strategy​
Restructuring and Layoffs: In early 2024, Diamondback Energy announced a restructuring plan aimed at streamlining operations and reducing costs. The plan included a reduction of 5% in workforce to align with the company's strategic goals and to enhance operational efficiency. This restructuring was influenced by fluctuating oil prices and the need to adapt to a more competitive market. Given the current economic environment, understanding these changes is crucial for investors and employees to make informed decisions.
In 2022, Diamondback Energy provided stock options and RSUs to senior executives and key employees. The RSUs typically vest over a four-year period. Eligibility was determined based on performance and tenure.
Company Official Website: For the most direct and accurate information on Diamondback Energy's health benefits. Industry News Sources: Reputable news outlets that cover employee benefits and changes in healthcare policies within the industry. Employment and Benefits Websites: Sites like Glassdoor, Indeed, or LinkedIn for employee reviews and company benefit details. Company Reports: Annual reports or benefits summaries released by Diamondback Energy. Healthcare and Insurance Providers: Websites of insurance providers that partner with Diamondback Energy, if available.
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For more information you can reach the plan administrator for Diamondback Energy at 500 West Texas Ave, Suite 1200 Midland, TX 79701; or by calling them at (432) 221-7400.

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