What happens to LAPC in August? Will they relocate all of the WY / CO employees to Houston?
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Select employees that Oxy wants will be brought back to Houston. All the other wills be attached to asset sales.
Why will the Woodlands location be a ghost town? Please explain.
Woodlands location will be a ghost town soon. What's the point of having an office building in the burbs when people are working from home. Completely pointless.
There are no economies of scale (cost savings) to be had by moving Denver employees to Houston. Office space is office space wether in Denver or Houston. Plus OXY has a lease in Denver through 2033. Also cost a lot of $$ to move employees. Cash that can’t be spared right now. Furthermore, the DJ Basin is a “cash cow” for OXY, with much lower break even costs than other OXY assets, and most effectively run by people in Denver. This would be really stupid.
I imagine whats left of the Woodlands office staff will eventually be consolidated down at Greenway.
I doubt there will be any relocations until well after this pandemic is over. Too many liabilities for OXY to do so under these conditions and for a while post pandemic.
I think we all will be working from home until Oct 1. After that who knows what will happen. With the virus we could be home the rest of the year. Right now in Texas we are getting hit hard.