I was a firefighter/paramedic with nursing training before Oxy, i am getting some calls right now. I am so outa here but should I wait for a layoff or just leave? Even just getting my vaca and a month severance would be nice vs just quiting.
14 replies (most recent on top)
Leave while you still have your sanity. This industry is nothing but a huge SEC-sanctioned, bank-funded Ponzi scheme. Employees and investors will be the victims left holding the empty bag, and sooner rather than later. The gig is up!
Not only that, VH and crew are not done with the hostage Oxy employees just yet. You will see a few more tricks she has up her sleeve. Plenty more torture for all who remain.
Leave, set up a margin account and short OXY, long EOG. You know there’s a 90% chance OXY will file for bankruptcy, and in the unlikely event that oil really does turn around hold EOG to capture the upside.
OXY has naked hedges in place for 2021, capping the potential upside at $75. So even a cataclysmic meltdown with oil prices going through the roof will not benefit OXY in 2021.
With easily transferable skills like nursing or paramedic training you should think hard about riding the Oxy ship into the dirt (if you are a L-APC with CoC protection). If you're L-Oxy I'd take any offer that's 10-20 pct higher than your current base.
I'd be willing to risk the 2-month severance. I wouldn't want to risk the CoC payout.
My two cents. Good luck.
As soon as you have the opportunity leave. I already started interviews. I will be leaving next month.
Take the leave of absence for 4 months to start the other job. worst case scenario if it doesnt work out, come back.
Voluntary unpaid leave of absence is being offered, it’s in the FAQ on those e-mails we have received recently
The essence of your question is pursuing an opportunity with more stable outcomes. The element of getting in the front line and using your training to fight the virus is not a factor listed in your note.
On that basis then, wait for the layoff.
The need for ER/medical personnel will be with us for couple of years and job opportunities in this field will be there. Jumping out of the "work from home environment" to the front line is not the safest decision and it was not part of your thinking as your question was written.
It depends on how many years you have at Oxy. If you've been sitting there for a decade, leaving a years salary in severance on the table will definitely be hard and probably torture you for a while if you find out they did a layoff two weeks later. Granted, Oxy is probably hoping people will just naturally quit and reduce the ranks through attrition. But if you are ready to go, it probably wouldn't hurt to talk to you manager or HR about seeing if they will work out some deal. I imagine at some point a layoff is coming, and managers would probably prefer to layoff those who really rather not be there than trying to figure out who should go. The worst they say is no, but they may welcome it or you might be able to negotiate to get half.
I agree. Leave If you can. I’m applying for jobs outside the industry to get away from this toxicity. Plus, with the 30% pay cut to your salary on tomorrow’s check, how much of a loss is it really?
Get out. Life is short. I left and am doing something very different and couldn’t be happier. Not making the same money, but much happier.
Simply compare the salary. Number tells. Checking dollar per hour is a good start. Also check retirement contribution.
Go.
Don't wait around in the hope Oxy changes or improves. They won't. And for proof, notice that the entire EC is still there shamelessly digging their heels in.
Be careful what you wish for.
I would leave and a month's salary should not be the deciding point. If you are unhappy and have an out take it and never look back. Like the previous post says your sanity is worth it.
To me, it’s not worth the mental torture. I plan on leaving. I don’t want to time it because it may not work out as you think. If God opens a door for you and you have peace about it, then just take it. Peace has more value than wealth.