Just got my latest VSP check.
Supposed to be paid to the end of August 2020.
I wonder if VH and EC will have gall to try and cut VSP payments on “technicality” that VSP recipients are still “employees?”
9 replies (most recent on top)
I’m a VSPer who was afraid of investing new $’s in stocks, so even while what I did have in the market has gone down, I’ve got $850,000 in cold hard cash. If Oxy cuts VSP $’s, I will get a hard-up lawyer and organize VSPers into a class action lawsuit. Breaking a contract is not a good thing for VH, EC and Oxy.
Legacy APC VSP payment was in one lump sum. The Legacy Oxy VSP had terms to pay out over 12 months.
Legacy APC received payments as lump sums, per the terms of the COC. Payment terms must be for Legacy Oxy.
OP VSPer says 18 months of base pay paid in substantially equal payments per pay period from September 2019 through August 2020.
Wait wait wait. So the vsp is not made in a lump sum? Are you Legacy Oxy or Legacy APC? I need more details. I’ve not heard of this particular kick in the face yet.
Not happy in my the hill- do you mean you have already gotten partial payment on your vsp
for August?
The layoffs in January had language in the T&Cs saying the payments could be stopped or reduced in the future. I would be surprised if that language is not in the VSP as well!
I would think anything is possible at this point.
Bank on it...Shady