Any updates on the technical bonus for Engineers and Geos that was sent out last month? Interested in what percentages people are getting and how its being rolled out. Will there be a match to 401k?
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@1dk I heard the same. Data and AI employees there are getting something like an additional 50% pay for the next 3-5 years.
@1qc are you claiming that some companies went bankrupt because they gave a narrow portion of employees extra bonuses? Can you name at least one?
@1pf other companies have done this to the detriment of the whole…then they went bankrupt and/Or purchased
This still isn’t confirmed. Would be good to head over there to the CVX board to determine where Oxy is headed. RJ is faced with growth or a sale. A sale makes the most sense. Very few will survive the acquisition, not sure on the final count of Hess employees saved but it was less than 10% based on Warn act filing
It is a big mistake to give extra bonuses to such a narrow group of employees.
@1dv ha ha good one.
I also heard that employees on their data and AI team at CVX got a nice bonus.
@1dk Isn’t an “AI employee” just another word for a computer?
I heard Chevron gave out extra bonuses for their AI employees. Any chance that happens at Oxy?
Why stop there... Sell Everything except the domestic acreage. The future is domestic oil independence isn't it?
What about a spinoff of the carbon capture business. Maybe something like CRC. This would still extract value from the technology and free up focus for Oil and Gas. Retained employees could go with the business and actually stay in Houston.
I smell bull.....
@se what is your source on this? Why should anybody believe an anonymous poster about what bonuses mean? I’m not saying you’re wrong, but why should we think you’re right?
@qs these type Bonuses are given when something material is about to occur with the company. some options
- Company sale or merger or divestment
- Company privatization
- Potential bad news bankruptcy in any of its forms for retention
Oxy does now that there are 5000 great Petro Techs out there right.
There are so many technical workers out there a retention bonus is not needed. Maybe one if they are going to sale some properties and want to keep those people because they know the properties. Again, there are tons of engineers and geos on the street looking for work.
It is a retention bonus.
Say what?? This is a thing? I have never heard of this. Lucky them. And someone please share. Give us a range and more background on it and whether this standard industry protocol: bonuses outside regular bonus period.
What groups were given this?
I would buy a Bentley like the Hawaiian shirt guy did.
Just too many employees.
Sounds like some people are bitter about more valued employees.
First world problems... I wonder if I will buy a Porsche or a BMW with my bonus this year ;-)
If they are afraid technical people will just quit they needn’t worry. The oil industry isn’t hiring right now.
Do Technical Staff Bonuses typically precede a Layoff event? Oxy upstream has not simplified in any measure. It’s a bifurcation strategy of onshore and offshore while the onshore folks span time and don’t divest any assets or simplify