Thread regarding Occidental Petroleum Corp. layoffs

VSP payable?

How likely are the people who have been told they are getting VSP actually going to get it? Did Oxy set up a payable for this? Are the funds set aside?

I’m sitting here waiting on my bonus that I still haven’t received and my VSP date to get here. I have made it clear I don’t want to stay and really want to go but unlike the people riding it out watching Netflix, they actually depend on me doing my job.

I’ve asked repeatedly for help, additional staff, etc but I just keep getting more work dumped on me as other people move on. I hoped that if I hustled maybe I could leave early or at least leave on the date promised to me. Not even that is certain because I’ve already been extended once. But I really don’t want to hustle and stress and then not even get the VSP. Should I slack off because it’s just a matter of time until this place goes bankrupt or should I continue to be the performer I’ve always been?

Not trying to be a crybaby but I actually have real family problems outside of work that I need to attend to.

by Anonymous
| 2681 views | | 9 replies (last March 22, 2020) | Reply
Post ID: @OP+143WcEW2
Comment! It's anonymous!

9 replies (most recent on top)

What about those who are legacy APC who still work there? If they file chapter 11, would those current employees be eligible to COC? And if so, would that have much clout in bankruptcy court?

by Oilersfan
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Post ID: @3dzd+143WcEW2

I've been dumping Oxy shares every time they show up in my retirement account. After seeing a multitude of poor decisions by management there was no way this company could succeed. I do feel sorry for legacy Oxy with huge amounts of Oxy stock in their 401k. I can only hope that the CEO and her cohorts will be held accountable just like the guys at Enron. Who knows if that will happen.

by legacy APC
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Post ID: @2tub+143WcEW2

I think it is 10 days for parents, grandparents, etc. Look on the HR Web Page.

by Anonymous
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Post ID: @2lty+143WcEW2

Wonder if you can take family leave to care for a “sick” relative.

by Anonymous
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Post ID: @2eiw+143WcEW2

I feel deeply for all those employees who never sold shares but then who does that? Did they ever hear of .Enron?

by Anonymous
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Post ID: @2ezi+143WcEW2

Technically, I think if you have a signed contract......they would have to pay out the VSP. It should rank pretty high up in a bankruptcy court. Definitely in front of the debt. But Oxy has an untapped revolver, so bankruptcy is still a ways out if it eventually came to that. If you really want to leave and they keep extending the date.....maybe worth contacting a lawyer and see if you have any ability to force a specific date. At some point you should be able to plan your life beyond Oxy without them wiping out your plans......I would say book a international vacation for shortly after you supposed last day, but things have changed. Then Oxy would be forced to refund the trip if they extended beyond it again.

It is kind of ironic, Oxy gave nice VSPs to people who were utterly useless, laid off others they just didn't like and kept parasitic managers, because nobody in management was let go. So I can't say I feel sorry for Oxy, they did this to themselves. Hate to see the collateral damage though to those who worked hard in futility just to have the bureaucracy of Oxy undo it all.

by Anonymous
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Post ID: @fun+143WcEW2

Thank you, Al. Best laugh I’ve had this week.

by Ay
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Post ID: @udz+143WcEW2

Tough situation, Vicki. I don't know what to tell you....

by Al
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Post ID: @rde+143WcEW2

Oxy will go bankrupt.

by Anonymous
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Post ID: @xsz+143WcEW2

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