Let’s be realistic for a moment, the fact over half the country is working from home effectively and efficiently reveals the reality that oil demand will be nonexistent for years to come. Transportation demand isn’t coming back anytime soon if at all. Companies are already calculating the money they can save without leasing offices and committing to lease obligations. Obviously some will still require space but it won’t be much which why Carl Icahn is shorting the commercial real estate market. In other words, take what you can get while you can still get it. 👍🏻
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Young people should go into the field where their passions are and not necessarily where the highest money is being paid. They will lead much happier lives. If their passion is aligned with high pay then good for them.
This is an industry that is going to find itself with no investors and no employees. Both have been burned too many times by this industry. All of us “old” people will retire soon. If I were a young person trying to decide on a career this is the last industry I would consider.
Salary’s in other industries have caught up with oil and gas.... especially tech industries. When was the last time you heard google or apple lay-off 30% of their staff? Or cut pay by 30%... You haven’t. It’s a new world and time to move on from this garbage.
Layoffs are just part of the oil industry because it is a commodity business and the commodity is cyclical. It is understandable why you would not want to continue in the business.
Salaries and benefits are not as high in other sectors but you have more stability. There is something beneficial about reducing job stress and anxiety by your job being more secure.
I'm a millennial, I regret going into this industry. All of us under 40 waiting for them to lay us off now with a package. I'm sure the young HR reps know it too.
Agree with the previous post. This industry has been this way since the beginning and it will never change. Massive layoffs follow every downturn. Companies fail with awful balance sheets. Smart people get out and do something else more stable. It’s even worse now with politics and global warming activists trying shut oil and gas down with new laws and ballot measures. There is no future in this business.
Be realistic about this industry as a whole. If you are young get the hell out this industry. Why would you put yourself thru another 30-40 years of this sh–? There is no future in oil and gas. You ALL can do better.
I still don't think we should of had to give up 30% of our salary, and then continue to have layoffs and vsp offers. With less people to hold down the fort and do the job we should at least be paid the same as those that were laid off. There are people laid off for various reasons that are getting paid 30% more than those of us that are working. That is the hardest part about not taking the vsp. Even if you get paid only for the next seven months it is 30% more than what you will make staying here. Oxy really is not going to be saving on salaries until all the people that are laid off and took the vsp come off the payroll. I am sure all the other benefits add up to a good amount, but man if you are going to keep the ones that stayed working twice and three times as hard at least pay them what the industry warrants. Oxy wants to up morale then give those that are left the same pay as those that are gone.
People will be back at work once companies figure out that overall organizational efficiencies are really down compared to what they could be with workers back at the office and with a much leaner overall workforce. So let the dog know that soon the walks during the weekday will be limited to Friday’s off.
OP, are you taking the VSP yourself? Or, are you one of the privileged ones?