Thread regarding Occidental Petroleum Corp. layoffs

@mwl+15im3K28 the things you wrote are the very reason you will never be a CEO or any type of manager. I say that because you said you would sacrifice a few years as a CEO then waltz off with a large sum of money. That is why you would s— at it and the company you lead would be bankrupt. CEO's that know what they are doing and really work for a company live the company 24/7 for many, many years. They don't really work for some large payout. That is why they are CEOs. One thing corporate America is doing is really paying attention to social stuff a lot more which can cause certain outcomes. In regards to the bottom line, it has never helped to secure a person's job with a company by being involved with SJW experiments as they don't pay the bills and usually cost a company money.

If the hall has a 1/2 bath, VH would be the upper decker.

Isn’t it a little ironic VH and other Oxy management [note: management, not leadership] were ragging on RAW and other APC execs and spoke of the moral high ground and were set on getting rid of the APC jets. How’s that coming along??

This a good reflection of what keeps her up at nite. Notice the difference how she addressed employees during virtual Townhall compared to PinkPetro ladies. Something may have changed. It was this deal. Something may be in the works that makes her look so happy and tuned. It wasn’t the idea of hall of fame for O&G ladies! Btw where would she end up in that hall?

Lol my whoever thinks they are going to merge with Chevron when they purchase Oxy is in for a rude awakening. They are firing everyone.

It is always the case, if you become an Executive, even if your performance s—s, you will get a gold parachute and cash out big

If the acquiring company’s bankers are smart they will get the deal close to closing then take exception to the COC contract terms that support the execs. Everything is negotiable.
That being said I don’t care how much oxy execs get paid to sell this company. PLEASE SELL. At this point we will all be better off with an acquisition.

https://www.bloomberg.com/news/articles/2020-06-04/bankruptcy-is-a-jackpot-for-ceos-helming-failed-oil-companies

@MTC I ask because it seems like in the bailout there are no strings attached so they can use bailout money to just pay CEOs without any protection for workers.

Is this from the bailout?

@mwl+15im3K28 I don't have a problem with a CEO making 14 million IF they add commensurate value. Take the stock from 10 to 50, then sure cash in.

I object to being paid out for failing. VH has done such a bad job that even Oxy IT might have fired her if she was an employee there - and that's a department that doesn't know its own head from its a–.

It is the same everywhere they always take care of themselves. It amazes me how these execs get to where they are based on brains. You mean to tell me of all the Oxy VP's, President, and CEO level people are smarter than the rest of us, no way. They just kissed a– and got to the top and played the game. The BOD just lets them pad their pockets and move on to the next s—er company that pays them too much. If their salaries were more inline with ours they would not be jumping for these positions. Sure they take on extra hours and pressure, but who wouldn't take it on at such pay. I have a hard time believing our CEO is worth 15,000,000.00 a year, and a young Geo or Engineer may be getting 150K a year. From what I read our CEO got around 14 plus million last year. There is no way she brings that much to the table, and very few do. Once you reach that level it is like the lottery, and you just give up time and take on more pressure. I would do that for 4-5 years and head down the road very happy.

"Any performance-based awards would vest at the greater of target performance and actual performance,"

Unreal. Things like this make the ardent capitalist in me want to reconsider. Basically a f—up participation award. Thanks for playing!

Somehow they have millions in cash to pay execs that are leaving, but not enough to pay our full salaries. Sounds about right.

This is an absolute slap in the face. I’m so sick of this place. I hate OXY with every inch of me