Thread regarding Occidental Petroleum Corp. layoffs

If the acquisition of Anadarko goes through, will existing Oxy employees be let go, or would it be mostly Anadarko people? Thanks!

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Post ID: @OP+YRKZHmd

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Welcome to Accidental Petroleum

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Post ID: @8ccn+YRKZHmd

Odd, I have no idea what happened to my post a few minutes ago, it got mangled up so I'll retype the last paragraph... maybe an omen!...

I suspect the person who started this thread has not worked in the Oil and Gas industry for a long time based on the question alone. Of course Anadarko employees will bear the brunt of the layoffs, it is like that in any industry.

There are exceptions though; interestingly when Occidental purchased Altura Energy in 2000, Occidental did not have much experience in CO2 injection which Altura Energy was an expert in, so Occidental retained most of the employees, there were interestingly very few layoffs as I recall.

In a twist, it was that Altura Energy purchase that makes Occidental what it is today, Altura Energy turned out to be the goose that lays the golden egg for the company.

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Post ID: @6lup+YRKZHmd

Vickie has made it a trademark of hers not to layoff staff in down times, and so yes, a voluntary severance package is rumored to be in the works, available only to those aged 55+. This can be problematic in that Oxy will not target its own, like low performers, and people with personality issues. On the other hand, it can use the merger to make an 'exception', and shed the dead weight.

I suspect the person who started this thread has not worked in the O just a handful of people were let go, but Occidental did not have any CO2 experience, so most stayed, there were interestingly very few layoffs as I recall.

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Post ID: @6xxz+YRKZHmd

Only known at this time is you are counting chickens before the egg hatches. Settle down and watch the excitement unfold!

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Post ID: @1ufd+YRKZHmd

I would guess both, but mostly from Anadarko. I heard a rumor that Oxy will be offering voluntary retirement packages soon. Not sure if that's true. Maybe a chance to cut as much staff as possible before doing involuntary layoffs. I have also heard that there isn't enough space at the new campus for Oxy's current employees, much less Oxy+Anadarko.

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Post ID: @olr+YRKZHmd

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