First, OXY doesn't care about you. That's just life. The reduction of salary is smart, but it's the first step in screwing you. By doing massive salary reductions they are saving cash now. Plus hopefully shedding some folks that are going to try and leave, more saved money. Plus when they do the layoffs and via the WARN Act have give 60days pay (or notice) then that is more money they saved. If there is severance, if anything, they can use your new salary for all their calcs. Nothing but snakes behind those spreadsheet.
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Will VH and the executives also be taking a salary cut?
Agreed with no accountability. VH, GV and OB should be fired immediately. Very disappointed Icahn settled with the witch – should have pushed her out and cleaned house on 31 in favor of people who have a clue. The company is FINISHED. Bankruptcy coming.
And wth was the Chazen announcement??? An advertisement for Magnolia Oil and Gas?!?!??? Not even he believes in this cluster f, clearly
It hurts when good people quit and leave. It's worse when they quit and stay.
For those on the fence (or just outright p-ss-d). It may be worthwhile to consider a "quit" and stay approach.
Knowing OXY HR, you'll have quite a few paychecks ahead before they resolve the issue.
Does complaining solve matters?
OXY smart? Really? I don’t think so.
I just hope I get my 296 vacation hours paid. The fact the rebalance was pushed out I think says a lot. Like why do it if we are going to lay people off. Plus, if you remember the vacation will be paid at your then salary when you leave. Vacation is carried on the books as a liability, so they just slashed that liability by at least 30%. All of this is being done for the bigger picture. OP is right that we are not cared about. If you don't understand the dire situation we are in you have your head in the sand, or so far up your a$$ you have no clue.
Agreed. No doubt it's just measures to save as much money as possible. It ends up s—ing for a lot of people who have put some real work into making this company better, but always good to remember that we work for a corporation; the corporation doesn't care about you.
That being said, we shouldn't just resign to that. Nor should we resign to the mentality of "oh, well, I'm lucky to have a job in this environment." That's nonsense. The leaders of this company need to be held accountable for boneheaded decisions that have put us here in the first place. They'll blame the price war or the coronavirus, but that's just out of ego or cowardice. The fire is only so big because it has so much fuel to burn, and the execs piled dead wood high with that BS acquisition.