Thread regarding Occidental Petroleum Corp. layoffs

Layoffs.....

Dear Oxy,

Here’s an idea: Instead of planning to lay-off the individual contributors who actually get work done, please consider laying off the middle management who are great at attending meetings and not leading. They are more expensive and unnecessary. You can replace them by providing the individual contributors with chances for industry level training. That way your already slim staff doesn’t have to take on even more workload.

How? Administer a performance review on middle management given by individual contributors. It’ll stop the petty politics and hold middle management accountable for being leaders, not presentation goers. Let HR figure it out from there. #foodforthought #rewardgoodmanagers #efficiency #fireoverpaidspectators #finalfrontier

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| 4111 views | | 14 replies (last March 23, 2020) | Reply
Post ID: @OP+14733CBN

14 replies (most recent on top)

Thanks.

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Post ID: @abu+14733CBN

They don't own the stock once it's in your 401k... They issue a payment that purchases stock within your plan. Additionally, even if they were simply handing out shares as part of the payment it would be deducted from the book value.

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Post ID: @nqa+14733CBN

The Oxy 401k match is in Oxy stock, how would eliminating that save the company money?

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Post ID: @apu+14733CBN

CAO management is the most controlling, narcissistic group I have ever worked for. They had the chance to be known as the management team that always had your back and would go to bat for their team. Instead they choose to go down in history as passive-aggressive, self-serving and completely uncaring about their reports. It is a known fact that after L-APC mgmt was selected, employees opted for VSP instead of staying with the company. If CAO is understaffed, it is their own fault.

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Post ID: @dut+14733CBN

It is about cash preservation to stay afloat.

Offering mass VSPs now does not reduce cash as much until the VSP payouts end, which is months to over a year. Last year’s VSPs are still getting paid their monthly sum.

Salary cuts do have an immediate impact in cashflow. Elimination/reduction of the 401k match does have an immediate impact. Layoffs with low severance do have an immediate impact.

Unfortunately, I think most of the above would trigger COC for LAPC and are therefore undesirable from a cashflow perspective.

So are LOXY folks at higher risk?

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Post ID: @hnd+14733CBN

@fej Could you convince the CAO and IT leadership teams to buy into this same sentiment?

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Post ID: @dzp+14733CBN

On the Anadarko folks I agree with the VSP if there is any money left. I think everyone that worked for APC should have been given the opportunity to leave. If the top dogs get to set their path and walk away with millions then the rank and file should have been able to leave with what package APC setup. I work for Oxy and still believe that should be the case. At least you give everyone across the board the option. Maybe you can't do it until the transition is done, but for those that want to leave Oxy should have found a replacement that wanted to stay.

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Post ID: @fej+14733CBN

How about laying off the newly appointed narcissistic VPs that won’t play well with others and think they’re above the rules?

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Post ID: @pvb+14733CBN

Oxy does 360 reviews on middle management, but doesn’t take any action to let go of the bad managers...just keep promoting them up.

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Post ID: @bpx+14733CBN

Agree with VSP post below. LONG overdue for GOM.

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Post ID: @ocx+14733CBN

Agree, that has idea has merit. Always good for companies to do 360's on their management layers. I would, however, also like to suggest a VSP for the 55 and over GOM folks - to honor what Vicki promised in her first APC Town Hall. Some of us have the exact family/health situations she described.

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Post ID: @gcm+14733CBN

Fare enough

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Post ID: @jkt+14733CBN

Ditto!!!!!!

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Post ID: @hhd+14733CBN

Bravo

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Post ID: @edu+14733CBN

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