Any updates on upcoming layoffs? Numbers? Location? Timing?
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At one time was Amoco then Altura thence Oxy. I retired Oxy in 2014. I had some shares until a month ago. Glad I sold this and a few other oil related shares.
When I recently looked at Oxy value, wow, couldn’t believe I was seeing $10 range.
People turn over here in west Texas has been increasing. When I saw oil at $30 range, I knew it was “good bye “ as I followed coe/bow for a long time.
I think Warren Buffett is gonna own Oxy soon if not already.
Feel bad for a lot of guys that stayed behind.
What if the company files Chapter 11? I think that puts everyone in line for payment. I don’t have COC, but I have max vacation I would like to get for the short-term. I just hope they can right the ship and get the stock value up. We need some direction soon because this not knowing s—s. It is hard to even concentrate on work with the virus and Oxy’s demise.
Based on language in the CoC document, it seems like companies can pay extra in severance to circumvent providing WARN Act notice.
COC Payout timeframe is 70 days according to the document. Either way, the company needs a lot of cash in a short amount of time when the company is short on cash.
It’s my understanding that when laid off you are supposed to get your severance within 48 hours. So for legacy APC - OXY would have to find a lot of money according to the terms of. COC to get rid of APC people. My hand is up!
Not sure why they did not do it for layoffs or VSP folks from what I was told. I think they vested you for the current year you were in when you left. All future years would be forfeited. And you are right Anadarko did vest everything during the layoffs of 2016.
Apache layed off 85 on 3/18
And Halliburton will lay off gulf coast WDA 3500 3/23/20
Think Oxy is going to give that kinda information ahead of time 😂😂😂
I was always told that Oxy was about family first. Sad joke 😢
Because VH and her cronies are using the loopholes in the WARN act to get around disclosing layoffs before they happen. They don’t want employees leaving before they are ready for them to leave, they have to keep those pump jacks pumping to keep their pocketbooks full and if they disclosed any of that information before they were ready to use their hatchet they wouldn’t have anyone working out in the field. Very, very sad abuse of power. A LOT of information wasn’t disclosed that they knew about before it happened.
Morgan Stanley < Hawaiian shirt guy
From what I have been told, Anadarko always vested all unvested shares for it’s employees when they were laid off. I think change of control does that as well. Why would Occidental not do that?
My issue cost per share was $41.56. It is $10.23 at close Friday. Does not really matter as I will probably never see the first vested grant anyway. I would need to be here 2/28/2021 and I would say there is a bad chance of that.
On another note I really wish they would vest us in all our stocks when they send us out the door. After they use the LTI as a reward for work the previous year. You also get the dividends on all your shares whether vested or not each quarter. To me if you get the dividend that is basically saying you own the shares. If you get laid off it is not your fault and the extra cash from stocks might help a little. I know of companies that vest you completely when you are laid off.
Morgan Stanley is incompetent, it not Oxy. The stock dropped 9 dollars from the time the stock was issued and showed up in my account. Why can’t this cheap company use Fidelity like most companies. Voya is also a joke.
Because HR didn’t know they had to file it.
Oxy values- Act quickly. We’ll figure it out later.
How hard is it to deposit shares to Morgan Stanley on time? Or was the delay to avoid paying the April dividend on the stock grants?
How come oxy,s january layoff is not in The 2020 WARN notices?
For Texas, information would be here due to WARN. Keep and eye on the 2020 list. It has Apache and Halliburton on there.
https://twc.texas.gov/businesses/worker-adjustment-and-retraining-notification-warn-notices
How about Denver?
Next week at greenway, but I don’t know how deep.
I am seeing lots of 'status unknown' from contractors. Must have been cuts
Its a spaghetti-western operation, worst of any company I've ever worked for. Quality and professionalism has been sacrificed in the name of saving $. Of course normal business communication is lacking. They are behind the curve in every other business skill.
Still, waiting on that super communicative email from VH/GV/HR. One of the first things i was told last summer when working on the integration, was "Communication is not Oxy's strong point". And that comment was from an Oxy employee.