It’s barely Monday and we’re already fed up with wondering whether today will be our last day. It’s draining. If you care about your people or morale at all, you need to get this ball rolling and fast.
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Why would OXY offer the GOM employees a retention bonus for keeping their job? The CoC and VSP are designed to allow employees who are in areas that are expecting cuts to leave on their own. The CoC doesn’t protect employees who aren’t going to be impacted by a merger or acquisition. GOM employees just sound greedy and bitter that they aren’t gonna get paid in lieu of losing their job. Be thankful you aren’t sweating out the uncertainty.
- and the supervisor and the supervisor’s supervisor and so forth ... know but allow these very, very non-critical 60+ yr old contractors to continue employment making close to six figures .... why? .....just saying
What is going to happen to the contractors?? No one is really speaking about that. Also, what about the restructuring of teams? Does OXY do MOCs and practice Process safety on their E&P side?
All this is going on while you have 60+ year old contractors still employed there making more than most. Just saying....
@10vJeKxm-gio, @10vJeKxm-1zbl
Unbelievable! This is discrimination! They totally pushed midstream out of the VSP equation (considering them “field offices”).
FYI to all there IS management in these offices! There are employees the meet ALL of the criteria except the fact that oxy considers “field offices” exempt!
Ok, y’all really can’t be this dumb. If you are eligible for the VSP because you meet the qualifications:
•At least 40 years of age on 12/31/19
•5 years of ANADARKO service
•NOT working GOM
•NOT working 25% or more on an African asset (this is still being worked out)
•NOT deemed a “critical employee”
You WILL be receiving a piece of paper next week with your VSP amount which is identical if not very close to change of control (CoC).
These rules are REQUIRED by the IRS. There will be NO exceptions during this round. IF and only IF they have to do another round of VSP because not enough folks took it, they will change certain criteria.
There is no wiggle room. You either meet ALL the qualifications, or you don’t. Period. From there, you coordinate with your manager for a proper transition of your responsibilities.
So what happens to those of us that are 40 or older but have been here less than 5 years?
So what is the scenario if one is eligible for VSP, asks for it, but then his request is denied?
"Hi, I don't want to be here, could you please pay me up?
Sure, what's your name again?"
So we are not good enough for you and you also want a 2-year pay?
Let's gather with all the other kids in the playground and try this new game, "fun and play, oxy style" you will love it.
Seriously it is the chicken or egg question and I can see logic on both sides of the equation.
Oxy would prefer to develop org charts after it is clear who wants to be around. Employees in most cases (if one is not close to actual retirement) will prefer to know what is the offer on the table before asking for VSP. Asking for VSP preemptively likely will have repercussions for whatever future with Oxy and will not work well if request is denied.
GOM=Gulf Of Mexico, our offshore platforms.
I know this is probably a stupid question but what is GOM?
OXY is moving a lot faster than most of you thought. I appreciate the information that is coming out. Lucky for the 40+ crowd. I know most of them are VERY happy. Good on OXY for taking care of them. You’re gonna have to do something for the GOM folks to keep them happy as well. If they don’t see any door to VSP, CoC, then you better offer a nice retention bonus. S—s for the TOTAL people as they are probably confused as to what’s going to happen to them. I know most of them were hoping for a big CoC.
You’re right about the office employees, that’s why they’re offering us the package.
Had the first GOM TH today. The EVP seemed very genuine and cordial. It looks like they want to keep the GOM going as part of the business but what is being missed is it takes only one "activist investor" to throw a wrench in the works and the GOM is gone to the highest bidder. Without any chance of a good VSP deal and no offer of a retention scheme why wouldn't people just start to leave. The whole GOM group is getting over a really bad relationship with the previous management BS and it looks like we may be getting the same again. New management need to do something very positive very soon to keep key GOM folks around.
That's b—s—. Employees in these offices dont do anymore than field employees.
Here's some answers folks for the VSP:
- 40 and up with 5 years of service (calculated as of 12/31/19)
- Employees based in The Woodlands, Denver and Midland are eligible
- Exclusions for
- Field employees
- Employees supporting GOM
- Employees supporting Africa more than 25%
VSP amount equivalent to change of control
Election forms go out next week
Deadline to submit election is 8/30
Deadline to approve/deny election is 9/12
Is this just corporate offices or field offices as well?
40 and up? Makes you wonder what headcount number they are aiming for. At that point, why not just open it up to everyone?
Give me my check and let me enjoy my winter break in peace.
That’s what I’m hearing as well. Manager thought 55 was too small a group which is why they’re expanding it.
Not fake news at all. Very real.
40 and over? Sounds like fake news to me.
VSP will be offered this week to 40 and over with 5 yrs of service and will look an awfully lot like CoC.
When will VSP be made available to Legacy Anadarko employees and is it only being offered to 55 and over?
In the town hall, they said they haven’t had access to enough personnel information so far to be able to make any decisions. (It wasn’t available to them until after close.) I don’t think layoffs are happening until after they’ve seen how the VSP goes.
It's going to be a looooong 30-100 day period.