Thread regarding Occidental Petroleum Corp. layoffs

@lce+14WASgK0 Exactly. It’s just a game. Really Vicki Hollub needs to name her price and walk away from this mess. They did good weathering 2014 -2018. Turned the ship around. But then she ran it right into a a couple of icebergs. And don’t give me that story of the big risk of acquiring Anadarko. Management wanted to spend money big after their success. Make a name for themselves for doing such a great job. So they bought a mold infested building and a company nearly equal to the size of Oxy. May the odds ever be in your favor.

@jta+14WASgK0 - Thank you I could not have said it better. To the point and right on. Too much dead weight hanging on that should be fired and not rewarded. Instead they take us all down with the people who under perform day in and day out. This is the new norm for corp America no matter what industry you are in.

Well put!

If you fire dead weight periodically and when needed, you don't end up with bloat that requires drastic cuts.

The outrage is at the abdecation of leadership and the punting of decision making to this auction. Play your co-workers against each other, wait till they bit by bit underbid each other.

Simply put, actually lead by doing a talent and position assessment. Fire the rubbish. Oxy has a lot of c-appy employees who haven't done work and survive by a– kissing. Burn them first.

@ekg: When has VH's number one responsibility been to the shareholders in this whole situation? I haven't seen it.

Why the outrage? What industry do you work in? The outrage is at the incompetent leadership that has gotten the company into this situation. There are multiple energy companies that are weathering the current price decline and will continue to so due to competent leadership.
The outrage is at a CEO that refuses to take responsibility for her actions and instead forces the employees and stock holders to suffer for her incompetence.

DRW is that you?

The people aren’t in the business of financing the failures of private enterprises or corporations every ten years with tax payer revenue. Nor is it my responsibility to compensate Walmart employees with social assistance and or welfare because they choose to pay their employees under the poverty line. Walmart among countless others can afford to pay their people a living wage, it’s nothing more then projection from corporations that people are dependent on welfare, corporate welfare is destroying America. 👍🏻

Companies are not in the business of financing people’s dreams. The number one responsibility is to the shareholders.

Face it we are going to continue to have high unemployment nationally, and you need to get the most you can. For me I have been there four years and the basic layoff package gives me 3-4 months, and I can claim unemployment for being laid off, so I will wait to be laid off. The 3-4 months will go by fast. I think you will be surprised at what they don't accept, because they are not printing money. They want to accept the lowest submissions, and they stand the best chance. You might get a little cream on top, but in my case I would be surprised if they would approve six months. I know people from the fall VSP that just inquired to see what the amount was going to be. In the end their manager told them in a nice way they needed to take it because there was not really a place for them anymore. The ones that did not turn in the VSP were not talked to. Once your name is in the process I feel you have been labeled. Get ready to negotiate, if your given the option.

Completely agree at the outrage in MGMT in the current situation.

This only amplifies my interest...

Bid while there is still cash versus the risk of getting a bare 3 month severance in a year with leadership continues to drive the company to failure and firesales....

Neither is guaranteed

I agree that this can be a good opportunity for some. Personally, my outrage (maybe disappointment is a better word) is the lack of leadership in such a decision. They are essentially pitting employees against each other. More so, I believe they were purposefully vague with this agreement's terms and conditions; for example, what happens to agreed upon payments in the case of bankruptcy? (seems like a huge oversight, or an intentional omission, for this to not be mentioned in the Q&A doc)