I am 9 year employee and I am curious who actually gets stock bonuses at the company. I definitely don't, but with all of these employees sweating the drop in stock price ruining their life savings I assume a lot of employees are paid in stock.
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As a former employee (I left in 2015), I received LTIs as a Staff Engineer. It’s all about negotiating what you deserve before you onboard.
Those with brown noses are the ones getting LTIs.
Technically, there is some metric where each grade level is targeted for a certain percentage of employees to receive these rewards. The higher the grade, the more who get LTIs. I would say, if you aren’t in a bonus target of 20% or higher, you’re chances are near nil unless you got the top performance rank. And if you are a supporting or cost center role as opposed to a profit center role, you probably aren’t eligible. But Oxy keeps this stuff opaque on purpose. They believe rumors and gossip are better motivators than a clear incentive plan.
sorry you are not getting LTI retention bonuses or team awards. That surely a thing of the pass. You need to be on the PetroTech side. If you have served here 9 years, it is probably a good time to change jobs. You may not be part of the circle of folks the company want to retain
Wish we could sue for damages but they warned us by limiting the percentage that was in stock. So it is buyer beware, and “ we are all big people “, etc. Maybe more direct communication from HR would help.
Lots of smart people got caught with stock in their 401ks. The price was Ok last January and it was paying a great dividend. Who would have thought the stock price would crater in less than a few weeks and not recover.
If you don't make a different investment election a significant portion of your 401(k) contribution will be invested in the 'Oxy Stock Fund.'.
And that's no good.