I'd like to hear what you think about OXY? Any hope this company survives? If yes, what are the conditions for survival? Do you suggest staying in the company?
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I believe the pensions were cut for LAPC only. Some people got the email, some don't. Those that I know who did not receive an email are LOXY. I don't think Oxy has a pension system for the majority of workers (IT, Finance, Geos), but field and plants may have one because of unions?
I am LOXY and have never seen an email about no pension, and the vacation carryover is still 120 hours. Plus, they let us keep adding to over the 296 limit while the virus is going on. When did you hear the pension was cut? I saw where LAPC was being moved to the Oxy plan.
Stay and keep up the strong work ethic that has defined you to this point. This approach will pay off in the long run.
With all reduced PTO\carryover, No Pension , 30% Pay Cut, All Phone\Gym Benefits Gone, Micromanaging, Working for all the lost team members, No real strategy for future, No Bonus, No Training Opportunities, No Career Advancement and burning your self for a–kissers what do you think you should do ?
Leave as soon as you can and dont look back. You wont be missing anything trust me.
Get out. Leave and don't look back.
Oxy management is now moving engineers, geologists and the like into field positions to replace all the contractors they just released. Groups that were already short handed before "the world ended" are now even more short handed because they are without experienced hands. And also now have to train extremely green people in a job which, let's be honest, they really don't want to do. We all know the stereotypes of both groups.... this will not go over well.
Nahhh no hope.
Remember the Zombiebanks from the financial crisis of 2008.
Well now we have the Zombie Oil Companies and Oxy is a prime example.
OP, my honest advice for you is to get out if you can. Don’t rush though. Oxy may or may not survive, but the future does not look good AT AL even if it survives. It will not be the same as before. We complain about the past few years, the near term will be uglier. Morale will be low with lots of unhappy folks. It will be extremely difficult to find jobs for Petroleum Engineering and Geos. It won’t be easy for other disciplines, but it won’t be as bad. If you are finance, IT, etc that can survive outside O&G, I would leave. If it ever bounces back, you can always get back in.
As most will do, I'd stay with the company... for now. Things will eventually get better, and more opportunities will open up at other, better run companies, then make your move.
Oxy will survive in some shape, or form.
I’m usually a kind and considerate fellow. But from the bottom of my heart I want to say that sometimes vulgarity is warranted. F— Occidental Petroleum and its current leadership, they singlehandedly destroyed two good to great companies.