If decision on contractor rate reductions is with the board of directors level, do the BoD have the right information on how much money Oxy is really saving? Rumors are it has been exaggerated by supply chain and is not accurate.
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Why don’t they just reorganize so it resembles the old Oxy which was very lean and efficient.
Cant afford to cut anymore worker bees (including Contractors). Need to cut higher levels.
Contractors! I did not know Oxy still had contractors. Surely they are next up to be cut and EC can bank that to Opex cost savings.
I’m sure contractors will continue to stick around. After having their work doubled and pay cut, who wouldn’t want to stay. They have choices and in many cases (IT being an obvious one) they are the last thing standing between this being a dumpster fire and complete f_ing Chernobyl. Seriously, I’m LAPC VSP and I’m still fielding phone calls from old colleagues about where all the bodies are burried.
No country club or Houstonian memberships!
Its the staff who have to make the savings not the EC ..... everything is being cut back or stopped
Why isn’t everything cut to the bone now! I am outraged as a stockholder. No bonuses, no raises, no uptick for promotions, no special long term studies, no business trips, no workshops, no hiring, nothing. That is the way you save a business. You cannot rely on oil prices above the upper 30’s given the lack of demand and the oversupply. What is wrong with this management and BOD. This great company needs to be saved.
Oxy's goal is to be the low cost operator and that was mentioned on the quarterly conference call yesterday. The only way to achieve that goal is to cut everything to the bone.
As long as there are savings, as the saying goes, “a penny saved is a penny earned”.
100% ... absolutely and no doubt .... the savings has been exaggerated.