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Manager said today no word on bonuses yet. Man they really going down to the last minute.
What is a CIC? It is COC… troll
They put the VSP money up to try to come close to what the LAPC employees where getting under CIC, so the Oxy employees would be able to get something reasonable. If the CIC wasn’t so egregious, the VSP wouldn’t have been so much. You may be older, but you missed the point. They saw you coming a mile away.
@6qxk you can have your opinion it’s a free country no matter how absurd guessing you may be about 35? Nobody puts up that much money unless they are intent on reducing head count and staffing. Normal protocol is 55 and older, when Oxy offered to 40 and over message was real clear we are going to get lean. Being older and wiser the message was understood.
You’re making that up. No one was intimidated into to taking VSP. If you took it, it’s because you wanted it.
Oxy employees taking the VSP DID NOT get their unvested LTI. They got screwed by the deal that was meant to intimidate Oxy employees into taking the VSP. If not enough took the VSP they were going to lay Oxy employees off for standard severance. What a way to treat your best employees. Who the heck authorized this mess. Was it the board?
Many of the LAPC people that left at time of merger were either forced out and given COC or voluntarily took VSP. In those scenarios, unvested LTI paid out. LAPC employees in GOM and Algeria/Ghana assets were not allowed to take VSP. LAPC that left/leave voluntarily didn’t/don’t get invested LTI.
If you are let go (not for cause) you get the CoC until August of this year. That is contractually owed to the LAPC employees…that’s what Oxy took on when they bought APC
I’m LAPC and I can confirm that our awards did not payout in full. We have to stay until they vest. The only way they pay out in full if we leave under CIC.
Wrong. You don’t know what you are talking about.
Yes, they did. Most got full payout of their original Anadarko awards. Even if they leave now ‘involuntarily’ they get full payout on APC awards and partial payout of Oxy awards. Original Oxy folks got completely screwed and it continues to this day.
No they did not.
Didn’t Anadarko employees who left at the time of the merger get paid for unvested LTI whereas Oxy people did not get any unvested amounts.
Bonus 2022 is for 2021 work. If you left then that is on you, and if you were cut that does not matter either. Just like you won't get any of your unvested LTI if you quit or get cut. If you quit maybe you should of stayed on and had a little faith in the company that they would do right by their employees. With 80.00 oil hopefully it will be a real nice February. If oil stays at this price we are going to get out of this financial ho-e, and I think everyone involved learned a lesson on acquisitions moving forward.
So if they are ‘making up’ for 2021,, those people who were employed at bonus payout time 2021, but then left Oxy later in 2021, should be entitled to that extra 50%..especially since it’s actually for work done in 2020!! Class action suit coming…
English please.
@3ajn+1f29RIwR, your paycheck was just deposited in your account by the company as well. Is that somehow to significant to you?
I think these dividend complainers don't know how to sell their stock since they never actually bought it. It was just deposited in their account by the company.
It’s more fun to just stick with it and complain on this board.
There are many companies that pay a great dividend- J&J, Apple, Bank of America, VICI Properties, Lockheed Martin, AbbVie, Visa, and Squibb to name a few. Sell your Oxy position and invest in these companies.
Continuing to hold onto Oxy stock and wishing for a decent dividend is a fools' move, and you're losing money every day you delay.
Why doesn’t the company increase the dividend first. After that the employees can get a bonus if there is anything left over.
Bloomberg:
Oil driller Hilcorp Energy Co. is lavishing $75,000 bonuses on employees as reward for reaching multi-year expansion and production goals.
Workers will receive another $25,000 to donate to charities of their choice, closely held Hilcorp said in a statement on Friday. The explorer controlled by billionaire Jeffrey Hildebrand employs about 3,000 people from Texas to Alaska and plans to pro-rate the payouts for anyone who’s been with the company less than six years.
They were given 100k and then 25k on top of it to give to a charity of their choice.
@2zil- If you were given $100k, how much of it would you donate to a charity of your choice?
With how dirty the company did everyone last year cutting salaries by 30% and then only giving 50% of the target bonus, I really hope the company makes up for that pay with bonuses and raises this year. Otherwise in this market, there will be a massive brain drain as soon as bonuses are paid to greener pastures (companies like Hilcorp who just paid $100K to each employee) regardless of rank or status. At $85 dollar oil, the company can more than afford it despite the crushing debt Vicki subjected the company to.
Karma Troll is just mad because Walmart is ending their quarterly bonuses in response to raising the hourly wages for store employees.
Oxy high performers = I managed to operate the door to my office, I amazingly managed to turn on my computer and I didnt add to Oxys list of fatalities or disasters.
I’m a high performer, where’s my bonus?
No, it will be paid in cash.
Will bonuses be paid in phantom shares to save on cash? This has been done in the past when cash is tight like it is now.
OP wanted rumors so that’s what he/she/they got. My guess is that high performers may get close to 150% and the majority will be at 100%.
@1qfl+1f29RIwR I hope your right, and if true people need to shut up complaining about Oxy once and for all. I have worked here 5 plus years, and from what I have seen this is not any different than any other company out there. There might not be all the perks, but there is just as many perks as many places. This whole pandemic we have got our retirement at 7% and in some cases more, and the 401K has stayed at a max as well. Go talk to Exxon employees about their 401K and what happened to it, plus all the long-term employees that were forced out on PIPS that just dropped out of the sky. Sure we had a pay cut and it was tough, but what could one expect when the World is in a pandemic. If you are still complaining about Oxy it is either a personal thing, or you have a direct supervisor that makes it tough, but that can be in any organization. Change departments or look elsewhere to better your situation.
True for investors in the game when warrants were issued but if you buy today you get only a few pennys per share of dividend.
Anyone know what the total spend per barrel was for last quarter? It’s so frustrating that they haven’t updated that graphic on the intranet. I guess if they did, we’d know the answer.
In the old days they updated this graphic monthly and in much more detail. Now it’s red. Yellow and green.
On another note, Any word on raises?
@djt The general stockholders each got 1/8 of a warrant per share of stock, and that fraction is now worth about $2.30. That's not the full annual dividend we were paying out before, but its not nothing.
Lol, yeah, right.
Bonuses are going to be 150% of target + additional 50% to make up for last year, so bonuses will be paid at 200% of target. Can increase from there depending on your performance.
You should get whatever the general stockholders are getting. Almost zero. All you did over the past year is sit at home.
Target for your grade + 50% (i.e. 150% of target) as base for your grade. Then modify from there based upon individual performance. Makes employees happy and makes em solid on last years 50% of target payout.
OP, bless your heart. Rumor is that there will be a bonus paid by the end of February. Just wait a little bit longer, honey, and you’ll fine out.