The other majors even with better balance sheet are laying off people. There is nothing with Oxy. Is this the silence before storms ?
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Has there been any recall of people back to the US or their home country. It seems like money could be saved by not paying big expat salaries and temporary living expenses.
What did you expect? The dividend was untouchable at one point and now it is effectively gone. Therefore major layoffs are definitely possible now.
Wait wasn’t it VH who touted about how Oxy doesn’t do layoffs? It was a big banner she waved around from 2016-2018. What happened to all that work for a campus full of bats? In her attempt to go big or go home, well, she ought to pack her bags and make way for someone who can do a better job.
But none of these are as good for the bottom line as a good ole fashioned mass layoff with minimal severance and cobra.
I’ve read a lot of stupid comments on this site but to the OP, this has got to be #1. Have you not heard about all the layoffs, COC, VSP and the infamous reverse severance auction over the last 18 months? What an id–t.
You generally don’t have a choice if you are laid off.
Other than LAPC do you really want to be laid off with limited health insurance and depend on lesser severance, and Texas Unemployment? I mean you get to work from home for a while. Why would you want to be laid off from that?
Take that 9000 and scale it to the number of employees at this company and that’s your target for next year.
Shell just announced 9,000 layoffs coming. Be thankful for your job! ... and work as if you are thankful!
Oxy needs to have another round of redundancies
Yes, we have very redundant structure and so many unnecessary layers, disqualified middle management, micromanage style, yes man troops . But hey VH and EC do not care at all. They have to protect the inner circle for royalty. But believe me, this mentally is So destructive and lead to failure sooner or later. So many case studies out there to prove this
Oxy is really over staffed at management level, non-technical worker level, and most technical levels. Even at the beginning of 2020 they were over staffed. Now they are really over staffed. There are even a few redundancies still remaining.
"APC let all the really good technical folks go from 2016 through 2019."
Hey id–t. You owe me a keyboard and monitor. After reading this garbage I spit coffee all over the place. APC got rid of the garbage during those times.
If you don't believe currently Oxy is overstaffed in the middle management layers; you are part of the problem. Even more so with the low amount of planned activity in the next few quarters as we shed assets and keep op costs to a min.
Did I miss something? Oxy already laid off a bunch of people....rest of the industry is finally catching up. Why does everyone think Oxy isn't doing anything?
As long as VH is still the CEO, all the management team will not get impacted as that is what the buddy system for.
Only us who are working the real jobs are impacted.
Lots of people in denial over Oxy. They have the reputation they do for a reason. The worst on every level and they never think about consequence.
Just more examples of how APC and Oxy people are still way apart from being a team. I worked for both companies in the past, and I can tell you APC is not any better except in their own thinking. APC let all the really good technical folks go from 2016 through 2019. These guys were the cream of the crop in finding oil. Everyone of them were sick of APC when they left.
They would rather keep things as they are than pay CoC to LAPC staff
Oxy management are truly short sighted and stupid
Just pay the CoC and move on
Its a lot less than the $1 billion you paid CVX to step aside
This is a bunch of garbage talk. I would blindly take any Oxy person who also has major oil company experience and a graduate degree over APC only experience and no graduate degree. But it really depends on the individual and their technical skills and references.
3 major search firms have all told me the same thing regarding the Hpuston O&G market. The market wanted / wants ex APC and not Ex Oxy people. True or not, the market doesn't believe Oxy talent is worth its salt as of now.
I know I will get down voted but I want those who are considering leaving to understand their situation.
@lcy+17bhfjwR
I must be the unlucky one. I report to son of someone, who is technically incompetent. If they lay off everyone on the team, he is not even technically competent to get anything done. Good luck to him or us?
Oxy is afraid that layoffs will drive people away when times are better and ruin any recruiting possibilities in the future. It may be too late to worry about that.
The company was not like that 10 years ago.
I am just so amazed at oxy management team. Never able to make any sound decisions. It was okay when oil price was good. Slackers could just survive in this forgiving and lucrative business. When things happened, low oil price and pandemic , all the bad decision piled up and just wait for the tipping point to explode
Because Oxy is managed by incompetent managers and executives. Plain and simple. No competitorone recruits from Oxy Oxy is well known to have the most incompetent Professionals in the industry. Sorry. Just facts. Ask any search firm.
I think they are holding until January 2021, due to fiscal obligations. They really need to get rid of the lame duck managers who put on lunch and learns and/or don’t manage people. Most managers are technically sound at Oxy, but a couple seem to not be very competent in their own technical expertise. Or good managers. Why are they still here again???
Oxy is traditionally out of cycle with their layoffs.
They just don’t want to pay out COC.