Thread regarding Occidental Petroleum Corp. layoffs

@2rny I agree
Some think Oxy will survive. I think they are in denial.
Oxy needs high oil price to get out of all the trouble eventually, but it is not likely we will see those prices next year or 2022.

We always suspected she was into The Beatles and not The Stones.

Oxy is finished
Its just a matter of time before the other shoe drops
Debt and lack of profits will k–l the company
VH and the EC will do OK out of all of this thank goodness
She will miss listening to John Lennon on her way to work but i guess she will be even richer

When are they announcing the VCP's?

Selling Columbia is testing the water. It does not look good as it is bad for the long term free cash flow. But they have to do something. We are in the very difficult situation. What else they can maintain normal operation as more debt mature in the near future.

1. Need new loans to pay the near term debt. Layoffs With reorg . The company needs to give wall street something that we are marching to lower cost to get better credit . No future no credit no money to pay debt then bankruptcy
2. Need to sell in pieces to payoff the debt.

The EC’s interest is to keep their job , Ichan ‘s interest is to recover. They have no choice .

What they do is they replenish ranks with bright, new interns in place of senior technical workers. Because it’s an apple to apples replacement to the EC.

Why the hell are they recruiting or offering internships? This company is in deep trouble.

Will they decide who goes like they did with those involuntarily let go? Those that provided little value to Oxy during their career?

I’m surprised they still offer internships at Oxy. I feel bad for the poor saps who will be shoveled full with “we are Oxy” c-ap.

I hope you are correct about Icahn's plan
If its true lets get going on the fire sale and VCP's

Icahn will sell us in pieces with mass layoffs. He needs his money back.

Another 20% getting what they deserve. Just keeps getting better. Lets see how you people like it. Its called the last laugh from where I am.

We need to be allowed to leave with our legal rights whatever they may be and the company will need to find the cash to achieve it otherwise this cancer will grow and spread

0%, things are going to turn around and we are going to kick a$$. I hope they offer a VSP, and if you don't want to be here you can go out into this job market. You better get enough to hold you for a couple of years while the market turns around. Chevron and Exxon are even cutting many employees you will be competing with. I just wish there was a way to separate the ones that want to stay with the ones that want to go, and let them go. This company has a better chance of moving forward with committed employees that want it to succeed. On the other hand the company might not have all the cash to give everyone a huge check as they walk out the door, so those that want to leave need to consider taking less. In these times you are not going to get the COC you want. The company knows who wants to leave to a point based on the name you price exercise. All of those people have let the company know they are ready to go. I just hope the company makes another round and those that expressed their desire to leave are the first to go. Just let them go as they are of very little use for us to move forward.

20% across the board.

Vicki tell lies

14400 is the number of employees as of Dec 2019 before many events happened, most notably multiple VSPs and transfer of 1000+ employees to Western Midstream. Oxy’s worldwide number of employees is less than 10,000 now.

My guess will 20% reduction . Past lay-off is past. There is more to come

You must not be an employee... Vicki clearly stated in her town hall we have already cut 4,500 people from voluntary and like 200 involuntary..