Thread regarding Occidental Petroleum Corp. layoffs

Mfers should be in jail. Period.

I wonder how many OXY shareholders will do the unthinkable if they lose their entire retirement to bankruptcy.

Something for all employees to consider:

Fact: This new exec severance plan is costly.
Question: How did the EC "fund" these new expenses?
Answer: It was funded by cutting our salaries...

The EC who bankrupted this company are lining their pockets on the backs of their long-suffering employees.

Break out the p.i.t.ch.f.or.k.s.

This is obscene. How can they provide different severance medical benefits governed under ERISA to executives vs. other employees? The currently policy give employees medical and dental for 10 months and stock vest prorata. Its evident they are cleaning house on 31 before year end 2021 and they wrote their own severance package. How convenient, this is just plain wrong.

Do the shareholders have to approve the exec compensation?

Most employees are shareholders. Vote against her in the proxy. And show up at the Annual Meeting and say there what you say here

We know now why we've heard so very little of VH lately. She has been too busy lining her pockets to care about all of the employees that she has completely trampled on. Despicable.

I am a male and I grew up with a single mom who raised three boys on her own, and only with the help of two strong grandmothers, I never really had a father figure, but had three strong women who guided us boys through tough times. I have never really met a man who could hold a candle to what these hard working women did in the 50's, 60's, and 70's when we were growing up. When I came to work at Oxy it did not bother me at all that we had a strong willed female executive to lead us. I have a grown daughter that is a hard worker, and I would never stand in the way of a woman going forward in business or life. I defended VH when many people both male and female said they thought she made the wrong move with Anadarko. But after seeing what she has done over the last year I believe she has let every woman in business down, and throw this on top of everything and she has proved she has not brought that much to the table. Too bad she could not of made more women proud. I know the women I grew up with would have kicked OB and his crew to the curbs. VH needed to be around the strong women I grew up with and maybe she would not throw Bear Bryants name out there so much.

Plus two years of dental coverage???!!! No shame.

Who is excited to show up to work tomorrow to get 70% of pay to work hard to cut costs and find efficiencies so these thieves can get golden parachutes?

Right! And let’s be honest, they all have so much money already, I highly doubt they are concerned about their next mortgage payment like some of us are now with the pay cut.

And what the hell does the below wording in the filing mean? Don't we all have to focus past our personal circumstances!!!!!!!!!!!!!!!!!

The Company previously did not maintain any severance arrangements for its executive officers. The purpose of adopting the plan is to allow the Company’s executives to continue to exercise their judgment and perform their responsibilities without the potential for distraction that can arise from concerns regarding their personal circumstances.

Sickening. Absolutely sickening the unethical behavior from the top after eroding so much value. Protecting themselves for a job well done? Where are you, shareholders?

It never fails that you see a person's true colors when the chips are down. Many of us take a salary cut and have no chance to dictate what we will get in regards to severance. We will not get our LTI vested or get to participate in two years of medical, etc. They are putting all of this in place to project themselves and could care very little about us employees. I bet there salary is based on pre-cut salaries, and I am sure OB left under this plan as it was dated at the end of March. Our execs have no shame at all. I am a little surprised Chazen and Icahn let this happen unless their rein has not started yet.

So... is this the final prep before they are ousted as that might not be so bad. However, if you look at why they are getting canned, is 2 times her base and bonus justified.