I thought it would helpful if we have a single place for people to post their offer feedback along with their years of service. Maybe we can start mapping out how generous (or not) management is being with the offers they accept and deny.
Include:
Months requested,
Accepted or denied ,
Years of service ,
LOXY or LAPC
LOXY
120-150
Threw Hail Mary’s 36 & 24 months
Both denied
No. Still waiting on my offer I submitted Thursday.
Did anyone get any responses tonight?
Yes Anadarko had issues to be sure. But not $40 billion worth of issues. RAW is probably sitting in his easy chair somewhere watching the tide roll-in.... looking at his bank statement.
I actually have to agree with some of those. Well spacing is a cluster f—, midstream agreement is so heavily favored towards WES that one has to wonder if there were underlying interests at play. DUC's are needed in the DJ due to drill/frac SIMOPS, but are used as a lever for production.
The point is I won't be here waiting on the golden ticket wondering when a sale might come. Even if I get less I will not be so miserable waiting like you guys are. By the way I hope management reads these threads and sees how divided we are, and maybe they will understand even more how screwed up this whole APC acquisition is. So some put in for 24-30 months, and you actually think they would even give that to you when they can have you sit here and implode. You will never see it from this company. Only hope is to be bought out.
Massively overbidding for a company and in return jeopardizing the livelihoods of thousands of employees. Oh wait that was L-OXY.
Funny how an LAPC employee tried to put something in simple terms and managed to F it up. Just like everything else you mo–ns managed to F up. Well spacing too tight, midstream dedications, DUCs, completed wells sitting with no well connect request, onerous leases, pooling agreements, trades, etc...
Gone already... auto spell s u c k s
@5mev+14XPz0vc Let me explain this in simple terms so even an LOXY person can understand it. Without the COC you are gone spread. And at very minimal severance. Thank you... I’m out.
You might think I am a jackass, but it is happening to people just to keep them employed. The fact you guys (LAPC) throw that COC around so much makes it look like you think you are a little special. In these circumstances you are no better of than LOXY, and might be worse off. For the next two plus years you will he waiting for that payday that never comes. LOXY will take their six months and get the hell out of here.
30 months
Denied
14 years service
LAPC
You will get a buyout after they cut your salary and send you to records management for the remaining two years. Then go try and find a job when they fire you and your true skill set is behind.
This fake vsp is to bait Lapc to take a cheaper buyout. Oxy is showing Loxy they don't care. They are going to drop the ax, be ready for it. The leadership in this train wreck company, from mid mgr to sr exec, repeatedly often remind us they are all clueless and not the brightest folks. Of the numbers of assets they needed to sell, just to pay off the debt, only thing sold was the real estate and South Africa package. Icanh needs to just break it up or sell us off. I want a buyout package or retention bonus. Garbage company. Oxy is the new enron. The cancer in the company is growing.
Here is one way to look at it. By reading these post it looks like 12 months for 5 years is being denied. I am thinking they are thinking more like 6 months for 5 years. So if you have 5 years just wait to get laid off. Your name is in the hat now, so they know you want to go. For five years lets say you get 4 months of severance under the Oxy severance plan, and then another 6-9 months of unemployment. Congress wants to extend the extra 600.00 a week through the end of the year, so you will make about a max of 1128.00 a week from unemployment. They also want to extend the months from 6 to 9. That money there can be used to pay your Cobra after two months and you still have money left over at the end of the month. I have a friend that got 2,180.00 from unemployment for his first two weeks on it. Accepting six months just helps Oxy and maybe your sanity.
Yes, They should open up to all! Vicki never took the advice of accounting, treasury, or tax when it came to the ridiculous acquisition - no one supported it!!!!! So why do you need us now???????
Open up all departments!!!! A lot of folks in excluded departments would put an offer in a heartbeat. I’d settle for half my CoC at this point. I want out of this train wreck.
@5bmn+14XPz0vc Submitted Thursday afternoon. Confirmation email Saturday morning. No response since then.
If it wasn’t for the Anadarko COC trust me OXY would roll in with a meat cleaver laying off thousands. But they can’t at least for now. Too expensive to lay-off LAPC and unfair to lay-off only LOXY. Thus this really lame attempt to lure employees into voluntary resignation.
It's clear now that this wasn't a honest offer to employees, but just a tactic the draw out the most depressed and desperate, particularly LAPC COC folks. A pack of hyenas after the poor stragglers, but they've chased to the point that the full herd now wants to give themselves up.
This situation requires a really futile and stupid gesture be done on somebody’s part!
@5pcl+14XPz0vc Did you receive a confirmation email from the Oxy Voluntary folks, saying your email was received? If so, when did you receive that?
I submitted Thursday afternoon and have yet to hear anything. Sure s—s theres no rhyme or reason to accepting or denying these things.
12m
5y LOXY
120k
Not Accepted.
Everyone is getting denied. Makes me believe there were some dishonest early posters about 24-36m approvals. And after today deal fallout with Total, I guess we are all screwed.
LOXY
6/7 years
14 months requested
$120-160 range
Sent offer Sunday night.
DENIED Monday evening.
LAPC
3 yr
$100-150k
18 m
Denied
Loxy
24m
15yr
$100-150k
Denied.
Submitted end of day Friday.
15m
5 years
Loxy
Under 100k
Denied
LOXY
15+ yrs
24 Months
$100-150k range
DENIED
Mine was denied right before 6 on Friday. Put me in a great mood for the weekend.
Not replying to offers on Friday or Monday? That leaves us what...4 days to resubmit?
Anyone get accepted today? Looking bleak..
LAPC will not get much better. You will never see the COC unless someone buys Oxy. You have protection, but at what cost. You have to stick around for two plus more years hoping someone buys Oxy. As the LOXY walk out the door because they accept less you are left to pick up the pieces and be p-ss-d for two more years. At least LOXY knows they have nothing to lose if they take the VSP at lower months just to get out of here. In reality they are just trying to get a better deal than the enhanced severance. Years ago I got stuck in a similar situation when someone bought the company I worked for. I was so sick and tired of the mess after six months I found another job and walked away. At least my new employer gave me a good sign on bonus. What happens two years from know when the COC runs out and you are left working for Oxy. At that point you will probably leave, but your spirit will be broke by then. Also, all these people keep talking about bankruptcy and COC and VSP. You have no control over that and would just need to get in line and hope you get something. If you really want out now is the time to put in a reasonable request and leave. Oxy has proved that they are not going to give LAPC anything near the COC. Believe me they know they have the upper hand and can wait you out to quit, and if you become a sorry worker they will just fire you.
I don’t see LAPC getting any better offers than LOXY.
Unfortunately for LOXY, it appears nothing more than 12 months will be accepted. Fortunately for LAPC, it appears like the decision makers will consider a much higher number of months to get out from under COC and reduce near-term G&A expense by paying biweekly vs. COC, which is lump sum.
Could see some LAPC personnel receiving upwards of 30+ months since it will wipe out LTI on the books, lower immediate G&A due to no benefits, wipe out risk of large lump sum for COC, wipe out 2020 bonus and 2019 bonus that factors in to COC calculation, and wipe out 2021 PTO that would have to be paid in COC. High earners (over ~$100k) COC payouts are generally 30-40 months of just base salary since bonuses, LTI, and future PTO are factored in to lump sum payout. Paying over a long period of time and taking a 15-20% discount could be attractive.
I think this is more about being between the regular severance and the enhanced, and nothing over 12 months. Thing is they want the people that want out of here so bad they will take less. So what good is it to take 6 months for six years, and lose your benefits after two months. That six months will go fast once you start paying Cobra benefits in week 3. I see this as a way to just give the people that want out under any circumstances that ability.
6 Years regular = 4.5 months
6 Years enhanced = 7 months
20 Years regular = 12 months
20 Years enhanced = 22 months
Nope. Not accepting anything over 10 months it seems.
Oof. These aren’t looking good.