I wonder if oxy will cut our 401k match and reduce our benefits like xom? And possibly reduce our pay again. I am getting concerned again.
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Stupid VH needs to have her salary and benefits cut to zero
Don't be surprised if 401k match is soon cut, along with big changes to benefits come open enrollment time.
EM still has a defined benefit pension plan. By suspending the 401K match their effectively reducing employee compensation 7%. I would imagine that’s preferable to EM employees to a salary cut or pension suspension.
Are you reminding them??? Or are you testing us??? Unbelievable, are you still holding a job?
@qwy+16kjUtDO Replace XOM’s dividend with OXY’s debt due next year, and the companies are in a similar situation (other than, you know, the quality of the company). Benefit cuts will likely become more popular in the O&G industry as companies gain leverage on employees due to employee supply/demand ratio on the market and lower risk of losing high-performing employees in masses to other companies.
Don’t float these ideas.
Exxon did it to save their dividend. Their dividend is billions of dollars a year and even qtrly is billions. Oxy already cut the dividend to 1 cent.
Yes, it will happen. Big debt bomb due next year. Company survival is more important than your benefits or employment.