I would take a VSP now if they offered. Once you get past 60 it is usually the best way for a graceful exit. It helps the company and VSP employees, because they can move on, and the company can hire younger workers to bring into the fold. Some of the older employees make enough to where that money could be used to hire two or three younger people coming into the industry. I sure hope another round of VSP is coming soon. Out with the old and in with the new.
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VSP was “voluntary”. CIC was not. Of course there was a difference for people whose company was bought and their job was eliminated or diminished compared with those who volunteered to leave. Like some of the VSP posters below pointed out, they wanted the money instead of working a couple more years; it made sense to them. They weren’t cheated.
LTI payout!
I think the last VSP topped out at 30 months, not 48.
My package was the equivalent of four years of pay. Was 59 when I took the package. Work till 63 for the same money?? No chance!
@5fht+1mTC5oU3, why was it greed for an Oxy employee to take the VSP? If I were close to retirement and was offered a good severance, I might take it. If you were in the same position, why wouldn’t you? “No thanks, I love to work everyday and already have all the money I need.”
This was a confusing post. I didn’t understand whether you thought agility is a good thing or a bad thing. I assume you meant agility is the ability to move quickly and change plans easily. And why would agility lead to laziness. On most experienced well run teams you don’t have laziness. It is when you have inexperienced people combined with poor leadership that you end up with slackers. Here is another thought. Oxy has way too many people and needs a good 5% lay-off done on performance.
Oxy stock reflects how agile we are as an organization. Lack of Layoffs means some take it real easy, and since work needs to be done, others have to carry the load. There is just so much those can do.
@5gky+1mTC5oU3
I still have friends on the SS Minnow and I am still a significant shareholder in this mess. I'd say based on these posts, little has been learned post merger and the only upside in this stock is due to the fluctuation in the price of oil. That is what's pathetic. No organic growth, actually no nothing so far. Recipe for buyout.
Oxy VSP people chose to leave, so how can they have been screwed. The knew the package and they greedily took it. Under COC we were either fired or our jobs were diminished, so we go what the COC plan provided.
The big question that remains is did Oxy VSP employees get screwed compared to APC employees. Seems like Oxy employees might have been.
I wonder if I’ll monitor this page four years after I leave on COC. Nah, not that pathetic.
Paid not that that well. When OXY had a look at APC's comps, they were happy many of us took the COC and got us off the books. I was thrilled with my compensation for the almost three decades I worked for one of the best O&G companies in the business.
People stay at Oxy for the same reason people stay in Texas. For the money.
Oxy pays really well and so why would complainers leave.
I for one have been happy my whole time at Oxy. Complainers usually just complain for the sake of it. I have also found many just complain and are scared to try and get another job. I agree with you on why do the complainers and unhappy people stay at Oxy. We would all be better off if they left.
One question, and there’s no wrong answer. I’m just curious.
What is keeping any of y’all from leaving OXY? If you’re this unhappy…
Shareholder value....Plain and simple...Oh yah, they are also a true oil and gas company.
Also, the CEO is smart and experienced.
Because Al Walker is on their board. He knows how to make money. He fleeced Vicki and the Oxy shareholders and was laughing all the way to the bank -at least for a week until his wife filed for divorce and took half.