This industry is just too volatile and with all the climate change talk, who is thinking of leaving? It sounds like VH isn’t planning to give bonuses any better than any normal year despite record profits for the company. Just doesn’t seem right to me.
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I know it’s anecdotal, but I’m under 35 at Oxy and I’ll be leaving a few months after bonuses (if we even get one). I started under Chazen, so to me he set the bar. VH has shaken my trust in the ability of this company to follow through with its promises. The APC takeover and gutting was the beginning of my disenfranchisement. Then VPCs, cut 30% of our pay (never to be reimbursed), then a joke bonus. Now it’s Schemes like DAC and CARB. Seems leadership just doesn’t have what it takes. I’m hopping ship for more stable shores. It’s been fun, but this 2-year-long blame game is so unnerving. Maybe I’ll reapply once VH is gone haha
Hey @5yst, nobody said O&G rules, but it does pay 2-3x what you're making.
Get out while you still can.
Yep, keep drinking the O&G rules kool-aid…
You would be a fool to leave the oil industry now if you are 30-55 years old. No other industry pays so well with great benefits.
Leave and let live. Enjoy life. The moment is now. The great resignation has created many opportunities. The sooner, the better!
@idda, you may want to reassess your performance if you were laid off in the 80’s and 90’s. You can tell yourself it was skill set based, but I bet some people with your skill set didn’t get laid off.
@1pfk+1eG1eJbF is spot on.
If you are only now realizing that the oil patch is a "bo-m and bust" proposition, then you better move on.
Age 35 and below suggests you probably aren't even half-way into your career or work life. So save yourself the aggravation because the volatility ain't going away.
Good luck.
I recently retired from decades in the industry. The volatility has always been there and probably always will be there. The pay and bonuses do partially offset that volatility. I’m not sure that one can avoid this by being a great worker. So if you can stand the volatility, it’s a great industry. If you can’t, you may want to look elsewhere.
That is BS on the bit about good performers escaping the job cuts. You apparently were not around during the 80s and 90s where cuts were as deep as 50% and were not only performance based but skill set based. By skill set we are talking field oriented vs office oriented skills.
The industry has been volatile for years. There are good years and bad years. If you are a good performer you can make it through without being laid off. The pay is good. Stay in O&G for the long haul.
You have to pay the debt down first. Then reinstate the dividend. Then the employees can be taken care of. That is the big picture. Get it?