Just came through… thoughts/details?
29 replies (most recent on top)
Having a VSP before or instead of a lay-off is a classy thing to do. Let’s hear it for Vicky.
@j7 He/she isn’t upset about getting fired, but about how his/her feelings were hurt while working. The company and its employees didn’t appreciate his/her uniqueness. Do you hear what I’m saying?
@e2 such a "Bitterman"... strange how your OXY hate has taken over your life. I've been laid off before. If you're in oil & gas you're going to get laid-off... it's inevitable. Generally, someone in HR shows up at your office door with some big strong guy (just in case you might get violent) to show you to the elevator. Severance of three months (if you're lucky) and a letter for you to sign stating that you won't sue them. No bonus, no vesting of stock... no nothing. Compare that with how OXY treats people. It's a shame you think you have to come on here and bash OXY. Like I said... such a Bitterman.
@eb Bullied on a junior high playground. Let it go. Your life will be happier if you do. Junior high was a long time ago. Other people getting laid off won’t make your life better. Holding a grudge for so long is like drinking p0is0n and expecting someone else to get sick. Life’s too short to be lived with so much rage and hatred.
@dr You are the one working for Oxy like its something to be proud of. Still only ever post the petty insults the way you people always have. No constructive fact based response at all. Its like being in the playground of junior high school and you bullies don't like your victim standing up to you. Still cant give ONE counter argument to any of the facts, can you?
@aq 40 years? This guy must have smirked his way through Piper Alpha all the way. Of course, it was just the benchmark for Oxy given his 'best company ever' belief. I wonder what his basis for comparison is if the largest loss of life in Oil and Gas history puts Oxy at the top?
@dn I am so sorry you feel this type of hatred to Oxy employees of which majority of them are innocent to what might have happened to you while you were working for Oxy. Please do not wish anybody bad or for them to lose their jobs. What do you gain from their suffering and the negative impacts it will have on their families and others who depends on them for financial support. Please let go of grudge and leave rage alone. Please do not punish any Oxy employees that come looking for a job at the company you work for. They should not be stereotyped for others shortcomings. I wish you quick healing from your grievances.
@dn Such a sad little life you have.
Good sign that Oxys culture and track record is catching up to it. Hopefully leads to involuntary separations and people at Oxy start paying for their attitude and behavior. Id like to see more stress around the office and some karma - its been long overdue. Ill make sure be involved with any applicants to my company with Oxy on their resume. Don't want that toxicity here.
Fingers crossed they drop the age to 55 to get more people.
I work with some amazing older folks, will be so sad to see them leave but I completely understand as I would probably take the package. Once I reach that age (2+ more decades) this is how I would want to go out. THANK YOU for your service and knowledge transfer over the years. Wishing you all nothing but the absolute best in life.
@av the severance is paid in 12 equal installments over 2025. It’s income and yes we will have to pay taxes… just like always.
What does Oxy's change of control look like? You play your cards right and Oxy gets acquired next year, the COC may be better than the current VSP.... Just saying ;-)
Releasing 60 of your most experienced professionals will not right this ship. This is just the start of a corporate rebalance / sale. Don't take your eye off the ball so easily young ones....
Before you pop the champagne, the timing of the VSP payout will most likely be early next year... Means that big payout you are counting on will have significant tax implications. Did Oxy vest the LTI's on the last VSP? Time to find a good tax accountant.
@a8 This "Boomer" will be riding off into the sunset! Thank you OXY! Through almost 40 years in this industry OXY is by FAR the best company I have worked for. For you that remain... I hope you appreciate your career at OXY.
@aj. Agree. Oxy has been an excellent company for providing opportunity for those who want the responsibility. It is a great place to sink or swim as an early career employee. They pay well too.
@ae yep feel let down, was a little over 1 year too young last time, a couple months too young this time, disappointed.
All I can say is thank you Vicki and Oxy. Say what you want about Oxy, but under Vicki I have seen nothing but a person that takes care of employees. You young ones can have it and I wish you the best on a long and prosperous career. The oil and gas industry has been a long ride and at times a tough one, but it has also been rewarding in ways other than money.
With 12-17 months payout terms appear to be very generous. If you plan on retiring next 2-5 years this may be the Golden parachute you are waiting for.
Do you all remember the “name your price to leave” severance program from COVID? That was crazy.
Lots of upset people in the 55+ club in my department. They’re hanging on just waiting for a package and missed out on this round.
There just aren’t many 60+ left after the 2019ish / last package that was for 55+.
I have three young kids all under the age of 5. I really hope there are not layoffs :/
They probably don’t know the layoffs yet until VSP numbers are in. You would be crazy to not take the VSP. Lots of people ready for this. Somewhere there is a spreadsheet with names, ages, years with the company, salary, and the last three years of ratings.
might as well join oxychem at this point
How many did they say would layoff?
Should have at least went down to 59
A lot of gray at oxy in the halls, boomers should ride off into the sunset and make room for the younger generation.
Seems pretty limited in scope. Only 60 and above are eligible. Hope they will achieve their headcount reduction target with this VSP and leave most of us employed. I have a family to feed and this economy is terrible.