Everyone I’ve asked so far was exactly 30%. Did anyone get cut less? If not why not just say that?
What a couple of weeks...
I think that last email destroyed any last glimmer of morale that we all had. What a miserable time. Best of luck to everyone.
Lay-off Decisions
Does anyone actually know how lay-off decisions are made at OXY? Is it based on performance ratings? The last lay-off seemed to be. Who actually makes the decisions, does it come from manager or director level?
Criminality on 31
How is it that Vicki and everyone else on 31 still have jobs? They all should be in jail. Along with the entire ex-EC of Anadarko. Vicki and EC came up with the idea of buying Anadarko as a way of keeping their power/jobs, because they thought... — read more
It’s too quiet...
Calm before the storm?
Glad I Don't Own This Stock
Oxy is around $9.5/share, a 22 year low. Yeah, all oil companies are down, but they are not Oxy.
Layoffs this week?
Any indication that we will have layoffs this week? Asking for a friend...
Layoffs.....
Dear Oxy, Here’s an idea: Instead of planning to lay-off the individual contributors who actually get work done, please consider laying off the middle management who are great at attending meetings and not leading. They are more expensive and... — read more
VH will remain CEO
According to the WSJ, VH expected to announce a deal this week with billionaire investor Carl Icahn to install 3 new Board of Directors + Chazen as Chairman. In return, Icahn drops the proxy fight and let’s VH keep her job. Really?!! You’ve had 6... — read more
VSP being pushed back for multiple L-APCers
Not sure of the reasoning for this. My guess is they are stopping all transition activities which means they need support for both systems. Cost savings in the short term but costlier in the long term.
Here's a list of CEOs taking pay cuts amidst the coronavirus crisis
https://finance.yahoo.com/news/heres-a-list-of-ce-os-taking-pay-cuts-amidst-the-coronavirus-crisis-171206258.html?acid=twitter_yfsocialtw_l1gbd0noiom
How long to work at home?
Anyone knows how long we will stay at home ? I need to get something from the office .
Save a Barrel
Legacy APC folks know the drill. Let's come up with "Save a Barrel" cost reductions. Here's some of the best from 2016 to start (they actually go well with WFH): Change all printers to automatically print double-sided in black and white... — read more
Layoffs
Any updates on upcoming layoffs? Numbers? Location? Timing?
WSJ Breaking News: Chazen back to be Chairman
https://www.wsj.com/articles/occidental-plans-to-name-former-ceo-chazen-as-new-chairman-11584656932 Icahn actually looked to him, https://www.wsj.com/articles/former-occidental-ceo-could-emerge-as-mediator-with-icahn-11564142044
New Book Soon:
The Vicki Hollub Tale: Kayaking Without a Paddle!
Should we still wear Hawaiian shirts on Friday?
Work from home luau?
Bill Ackman will be remembered one day as a hero
https://www.cnbc.com/2020/03/18/bill-ackman-pleads-to-trump-to-increase-closures-to-save-the-economy-shut-it-down-now.html This is not about layoffs, but he is begging for an ultimate solution: shut down the country for a month. Guys, we need to... — read more
Oxy HR & Leadership owes answers to all employees on this blog.
I hope oxy cares to answer all open questions here. Good luck folks!
VSP payable?
How likely are the people who have been told they are getting VSP actually going to get it? Did Oxy set up a payable for this? Are the funds set aside? I’m sitting here waiting on my bonus that I still haven’t received and my VSP date to get... — read more
$37 billion of Junk!
Moody’s downgrades debt to junk today - good work 31!!
What Next?
Why haven't we heard anything from Vicki & the EC addressing the rumors going around?
Lay-off/Furlough/Contractors
Credible source has said GOM will do the following: not pay bonus, Contractors fired, merit increases gone, drilling gone, and minimum ops will commence April 1st. In September they will offer small VSP to GoM employees but only to 10%. The remaining... — read more
I don’t know what to do…..!
I’ve got over a million in cash on the sidelines right now, my house is paid off and my wife and I only earn about $230,000 a year at present from good jobs with a solid, diversified multi national company worth over $125 billion. My job is secure... — read more
Is it going to be a combo of layoffs and salary reductions?
Maybe know tomorrow?
Warren Buffett Literally Owns OXY Now
Look at the market cap...
Wow!
OXY at $10.10 / share a short while ago. MCAP = $9.3 Billion Warren Buffett’s preferred shares (not taxes levied?) worth $10 Billion (with guaranteed $800 million per year dividend). Dangerous territory for OXY in its 100th year of existence! — read more
Layoffs?
Did layoffs really start today for 26 completions engineers? What is everyone hearing on when larger layoffs are happening?
Survival Mode, Entered...
Eeverything is on the table to cut cost and save the company. Commonsense tells you with rigs laying down and being released that not as many people are needed, plus the billion dollar plus budget cut. It is happening to all oil companies and not... — read more
Halliburton just annouced furloughs, every other week off, unpaid...
Winter has arrived...
Oxy Stock
The stock price is $11.34, almost exactly the same as it was in March of 2000. Twenty years of gains wiped out.
Corporate Email
What is Vicki’s email referring to? Are they going to announce more layoffs while we are working from home?
COVID-19 Case - Greenway Plaza
Heard Health club sent out emails because a person working out there March 7 was DX’d with Coronavirus. It could have been LIFETIME as I just heard they have closed the club indefinitely and pending per governmental notice. What if this person an... — read more
Additional Poison Pill
Due to the current very shaky financial footing Oxy is on, I would like to suggest Oxy mgmt include a couple more layers to last week's Poison Pill. These would : ) Show the employees that Oxy mgmt wants to protect and provide for THEM in the... — read more
Summer internships?
Any idea how the severe drop in WTI will affect the summer internship program, if at all?
Chevron to buy OXY
Let's vote here. Upvote = Yes, Chevron should buy OXY. Downvote = No, Chevron should not buy OXY
WTI Sinking
Now under $30/barrel. Thank you Vicki.
Next up. We need to delay 3rd quarter close
It’s not going to be good anyway. Keyboard warriors get on it.
The CDC Recommends Canceling Events with 50 or More People for the Next Eight Weeks
Which puts the surprise spring company party that our gracious board was planning at risk.