I thought it would helpful if we have a single place for people to post their offer feedback along with their years of service. Maybe we can start mapping out how generous (or not) management is being with the offers they accept and deny.
Include:
Months requested,
Accepted or denied ,
Years of service ,
LOXY or LAPC
@rsit+14XPz0vc How would they know they were blocked by management?
The 5 people I know that submitted were blocked by management independent of the offer because they didn't want to lose their high performers. This was mainly a PR stunt before the axe falls on the few people that managers are "willing" to lose.
What does management expect work ethic to be now?
How do they expect to keep any of these people after the market recovers?
It is shameful to watch the executives loot the the balance sheet via lucrative Exec COC's/Severance plans while they cut the income of thousand of employee families all while posturing that there is a way out.
Anyone get a counteroffer?
This post sure has gone quiet
I heard not very many people are getting the vsp, and under a 100. I would leave if I got a year, but there is no sense in playing a back and forth game with them. Just ends up being a waste of time and ends up irritating you.
I also got a call from HR. Sent me a counter offer for 1 month less than the last offer I had submitted and had denied. Seems maybe they didn’t get enough people approved the first time?
Just got a call from HR offering me 8 months VSP so they are obviously still on the prowl
Still waiting... no reason for them to get back... might be left hanging until it expires.
Let's see those acceptances/rejections that come in today.
Has anyone who submitted on the extended deadline date of the 28th heard back one way or the other? I have not.
That's the reason I think that they weren't accepting anything longer than 7 months. That debt wall is a monster, and as much as Oxy smells right now, they didn't want to commit to paying anyone past that wall.
Like many of you, I am also concern about oxy moving forward. I spoke to an attorney friend about ch 11, and how it affects vsp. The short is, anyone that took the vsp before ch 11 filing, any unpaid wages, you become a creditor, and good luck getting the balance. You become low priority. It s—s, and it is sad. But that is the truth. Like VH said, we are good for 2020, and who knows for 2021. Might just be best to get laid off, or bought out. This vsp isn't ideal. Wish I had asked these questions earlier.
Got denied twice - 90-130k.
According to the 'not accepted' email, I have until 1700 on 28 May to resubmit. Think I should ask for 12 months this last time.
First offer:
Months requested - 9,
Accepted or denied - not accepted,
Years of service - 1.5,
LOXY or LAPC - LOXY
Second offer:
Months requested - 7,
Accepted or denied - not accepted,
Years of service - 1.5,
LOXY or LAPC - LOXY
More debt will fix the problems for sure. VH is a complete dumb@$$
Don't you think that the $5B credit facility would need to be utilized before the risk of bankruptcy deepens?
Based on the data here in this thread, it appears that 7 months is the sweet spot. The question is whether the company will wait until January 2021 to file for bankruptcy and everybody approved will have received their full payout. Or will they file sooner and these folks + soon-to-be laid off employees will be receiving a fraction of the payout in a restructuring. We shall know soon enough.
LOXY
2-3 years
7 months
Accepted
$150-160k
EXTENDED TO MAY 28!
Another stupid f-€#!n& idea by OXY. The whole exercise was pointless and made OXY look ridiculous to the rest of our industry. I can’t wait for OXY to go bankrupt and I hope VH and the rest of the crooks she surrounds herself with get jail time.
Times up...
LOXY
5-6 years
9 months
Denied
Under $80k
5 months requested - Accepted
~1.5 years of service
LAPC
~$100K salary
For what it is worth, I have requested >6 months and it was declined. It seems there is some consideration by Oxy for years of service. For me, this is a good amount of money for me (despite what many of you will say) so I am happy with the result. Best of luck all.
To the poster below: the rejection response is not taking the offer off the table. Their wording says "has not accepted" to reserve the right to accept by their June 12 deadline. Employee needs to rescind or increase offer by 5PM today if they want to not give them the option.
Resubmit offers at the deadline so the only chance they have will be to accept it if they want to hit the numbers.
I think so they can feel better about layoffs by saying "you had your chance" like they did last time.
It doesn’t sound like they are accepting much of anything. So what was the point?
L-APC (woodlands)
$85-$105k
12 months-denied (less than half my COC payout)
LOXY
6+ years service
130-160k
8 months offered
Accepted
@9qug - did you resubmit for lower?
I agree...odd time to have joined APC. Although you are correct that my time is less than many others who have gotten the 7 months accepted, 7 months is ~50% of my COC, and not paid in a lump Doefelt that 7 months was a fair request and I was still disappointed they did not accept.
7 months requested
Denied
Years of service 1.5
LAPC
~100K
The posts on this forum have given me great confidence this offer was going to get accepted.
This is management showing you.
________________$
______________$____$
______________$____$
______________$____$
______________$____$
______________$____$
__________$____$
________$____$____$____$
________$____$____$____$__$
$__$____$____$____$____$
$____$________________$____$
$______$______________________$
__$____$______________________$
___$__$______________________$
____$__________________________$
_____$________________________$
______$______________________$
_______$____________________$
________$____________________$
_________$________________$
__________$________________$
__________$
Do the math for unemployment vs 7 months salary... Nothing more than 7 months is approved. They will go bankrupt and all severance policies are out the door. I'm in HR. They are outsourcing all of this to a 3rd party firm. 24 - 48 hour response time. K–ls me that they are spending so much money on that when we can at least save some cash and fire our own people...
7 years
80 - 100k
9 months..Rejected
8 months..Rejected
7 months..Accepted -> See you all on the other side...
The WARN ACT requires a 60 day notice to employees however if the company pays 60 days of severance they consider this notification to employees to the extent that they will not be fined for not giving any other notice.
New layoff policy for 4 years is 2 months WARN notice and 1.5 months for years of service. If you get cut in August it will be the same if LOXY. The severance is not good.
Doesn't the new layoff policy require 60 days notice? If so, then you're shorting yourself 2 months of salary by taking a package in June, versus being let go in August.
Good math, only thing I see wrong is I’m pretty sure VSP vacation is at new/70% pay, not old
I thought unemployment as well, but I did the math and I would be leaving money on the table if I don't apply for the VSP, and get laid off in June. Assume you can get 7 months salary, and that is an assumption. You will get 7 months at a 30% increase of what you make now, and get 30% increase on vacation as well. I was told by someone we probably would not see our salary adjusted up again until 2021. With that in mind I figure just look at the next 7 months if I am laid off with the basic Oxy package. I have a lot of vacation built up so that is a nice chunk for me, so that adds a little more than usual to my calculations. I have been at Oxy 4 years and by looking at the other accepted offers it looks like 7 months could happen.
VSP = 7 months x old salary + vacation x old salary - 7 months ins with 5 months Cobra Couple $7,500.00
Layoff = 3.5 months of reduced salary + vacation x reduced salary + unemployment 12,696.00 six months - 7 months ins with 5 months Cobra Couple $7,500.00
** Now the wildcard is unemployment paying the extra 600.00 a week in federal funds. Listening to the politicians they already want to drop that because it is keeping people from going back to their old jobs. In fact those turning down the offer to go back to their old jobs are going to be cutoff from unemployment as the employers start reporting those back to the unemployment office. The extra 600.00 a week is not something you can count on, so I left that out of my calculations.
Agree 7aco. If someone has a Plan B, then it's not a bad deal. But for everyone else, they'd be giving up unemployment benefits, which makes an offer of 7-8 months a lot less appealing, not to mention the low odds of getting a replacement job in this market. I'll take my chances and stick around at this point.