I never post here but thought it could be great forum to ask. What advice do you guys wanna give to early and middle career engineers at Oxy? Haven’t seen a lot of people leaving or being let go, so is this just beginning? Is it worth waiting around? I don’t know how much you get compensated for years of service in the event of getting laid off. This is genuine request so please no trolls.
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If you have the chance to get out now I would. It appears oxy leadership can't even run a lemonade stand let alone a large company. Really the only thing they have going for then is what they bought of anadarko's. Before that all they had was run down junk that no one else wanted. If you look at what they are selling, none of it was there's before the acquisition. I've seen oxy locations and after this whole dumpster fire of a merger I don't know how anyone could tell anyone they work for oxy and not be ashamed.
If a company is laying people off in a chaotic manner, then you should go, every day I came to work people were disappearing randomly. So I left and came to OXY and haven’t been sorry. When Shale crashed at this Big Company I was at, they just stopped everything dead in tracks, no more projects, etc. Bad planning and executions. EVERY company needs to plan for lean times, use lean times to utilize people for projects, studies, etc that couldn’t be done during boom times because too busy utilizing people for the drilling treadmills.
Seems odd. Anyone working for the company knows the terms and payout. Are you in the right board?
Oxy is selling. APC legacy will not get a pkg. You'll have to stay and leave on your own and Oxy may be garnishing pensions and 401k...get out while you're somewhat ahead in your investments good luck!
Did they teach you to solve any problems with that engineering degree or was your school just handing them out? Your question makes little sense as you are either happy doing what you’re doing for the compensation or not. Whether you realize it or not you even up every two weeks. Are you asking the board to quantify your imaginary offer from some tbd source or do you actually know how to source one? Any chance you are trolling the board? Oxy just hung their a– on the line taking on a bunch of acreage and your thought process is they are going to need less people to work it? Uhmmm
It is a good question and really hard to answer, but also you don't want to jump boat prematurely based on a rumor, that so far, is not correct. Other companies have been cleaning house several times a year, so far, Oxy has not. Even if you go to another company fearing layoffs you may still be laid off from that company. Petroleum goes in a cycle of high and low prices, M&As, bankruptcy, and so on, so this will eventually happen again in all company. Back in 2015/2016 I had many many friends laidoff from other companies so I was glad I stayed, some jumped boat back then fearing layoffs. I cannot give you a straight answers but I will take my chances with Oxy
You sound proud of all those examples of Oxy performance, -nax. A little ironic after your first paragraph, isn't it? Probably too subtle for someone like you to see my point though, eh?
Are you legacy APC or legacy OXY? The answer will determine how much you will get in case of a layoff. If you’re legacy OXY, you will practically get nothing .. 2-3 months severance. If you are legacy APC, you will get plenty .. 1-3 years severance.
If you are not seeing a lot of people leaving or being let go, why are you assuming this is just the beginning?
My advice is work hard. Control what you can control. Do the best that you can to get the company in a better shape. There is plenty of work to be done so make sure you are staying busy so that you don’t even have any time for distractions.
I think it will be okay. Good opportunities are ahead, and we will come out of this stronger once the debt settles down and APC permian acreage starts bearing fruit. Many technical groups I work with on a regular basis are not fully staffed since the hiring freeze 6 months ago, so layoffs would surprise me unless we compromise on work output or drop a lot of projects. Aside from capital cost efficiencies, I think there is great opportunity in APC acreage on time to market, production optimization/acceleration, and completion optimization.
I may be wrong, but I hope not. If I am, then we will surely hear from Mr./Mrs. “Don't forget Piper Alpha, Petrolia, Maynas Carijano, Thunderball, Oleum spill in 2008, 35R gas line explosion, North Dakota purchase and sale at $1billion loss, Tatweer petroleum, Libya, ALL south American calamities”