Are layoffs coming soon?
11 replies (most recent on top)
The days of oxy are coming to an end. There is no way they are going to service the debt and be profitable. Even WB sounds depressed when you mention oxy. And hearing of oxy chem for sale, and hiring firm to help minimize debt. How ridiculous
Layoffs are costing companies in the long run. Maybe some short term rebalancing of finances, but costs a lot more to rehire, retrain, etc. Wharton School of Business has some real good articles on this, 30 years ago, same schools, Wharton,Harvard, etc started the lay-off trend saying raises shareholder value. Not anymore. Look at AMEX, Recently had big layoffs to shore up balance sheets. Stock dropped 25% and has not come back since then, OXY would do well to keep people in place and let people leave on their own.
But I'm sure they have enough money to line the pockets of VH and Hawaii-Boy once they are kicked to the curb by Icahn. It makes me sick.
They don’t have money to give anyone severance, and the LAPC folks and their bags of CoC cash are what is keeping them from going to the layoff route. So blame them or thank them, whatever your personal stance. I strongly feel they were headed that way in March and reversed course when they reached in their pockets to realize ... they had no money ... with no prospects to make any in the near future.
Too many people out in market..too competitive and many certified folks...Bottom rates\salary ranges for compensation...No real jobs with recruiters and all the bad you can imagine is out there waiting for you! Oh yea and if you have family and kids specially not going to help you at all.
OXY's management will have no shame to bid you farewell while you are at home even though you may have served with your sincerity.. gone above and beyond.. You are just a number. I challenge your middle management to put their resume out in this conditions and see if anyone even lend you a hand!
@1osy the problem with quitting is that the prospect of getting another job any time soon is not good. Yes, I can eventually get another job, but what to do in the meantime. If I get laid off, at least I get some kind of severance and unemployment benefits that will help pay my bills until I find other employment. Trust me, I would have been out of this sh-hole a long time ago if it had been an option. I've been applying for other jobs, a couple have called me back, but did not work out. Until I get hired or get laid off, I AM STUCK HERE.
We know contractors and LOXY and LAPC that took vsp. I think he is talking about those not in that category.
They are. The 7th is my last day
God I hope so I am ready to get out of this dumpster fire of a company.
I don’t see how Oxy can justify not having additional layoffs. The commodity price has bottomed out and has no room to grow. Every other company in industry is in the middle of planning has already implemented large scale layoffs.
Even if they are, they will never say anything until like the last minute. Even if things are going great they won’t say anything unless it benefits them somehow.
Don’t even sweat it. OXY doesn’t communicate.