I have worked for various oil companies in my career and l can tell you Oxy is the best among them when it comes to good pay, benefits, and job stability. Despite Oxy’s debt profile, they are not laying off employees like other majors like Shell, Chevron, Exxon, and BP are constantly doing every other year. This enables Oxy’s employees to focus on producing barrels rather than worrying if they will have a job tomorrow. Vicki and her leadership team are doing a fantastic job. What’s your experience with Oxy compared to other oil companies you’ve worked for?
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Oxy is messed up right now. They don’t know what their main product is. They have lost control of the finances. Any they are afraid to make any changes even though changes at the top need to be done.
I agree with the OP - Oxy is a great company.
However, as a long time veteran, I can say with authority that it hasn't always been that way. The house cleaning began around 2004, and a lot of shady people have been given the boot since.
Actually as a CEO you can run a company into the ground through incompetence and not go to jail as long as no federal or state laws were broken. Most companies like Oxy are bought out before the incompetence runs it into the ground.
@c1+1jkv7f87b, so people are going to jail because no layoffs? No hyperbole here.
With their debt, layoffs are just a speed bump. It is good however to clean house once in a while. Downturns were always a good reason to lighten the load. Selling assets is the only way out of the swamp.
Would layoffs really help much with the debt?
@@bm+1jkv7f87b: So, Oxy was expected to lay off half of its employees but did not—why? As a public company handling public money, it has a fiduciary duty to act in the best interests of its shareholders. Violating this duty can result in civil liability and, in some cases, criminal charges, depending on the severity and intent of the breach.
Second Al Walker on being the downfall of APC.
I am surprised at the level of ignorance expressed by some people on their replies without knowing anything about the OP. You may not like the way things are at the moment in Oxy but truth be told, the management is going well to stabilize things in the company. They are also working hard to pay down the debt and working towards that goal. Tell me one oil company that will be in the situation Oxy is without laying off half of their employees?
The best job that I ever had was with Anadarko after Jim Hackett came in as CEO.
When Al Walker took over from Hackett, things did not change overnight. But things gradually went downhill and it was due to Walker. I’d say thing that things under Vicki are about the same as under Walker, except that she’s a much nicer person.
How does this sound. Oxy has some positive aspects and some negative aspects. Overall it is negative at the moment until they get the debt resolved.
And there is the usual fan boy spew that totally ignores Oxys track record, massive staff turnover, diving stock price, safety record, utter disasters in numerous countries and hostile environment that a pack of ten year olds would be embarrassed about.
Welcome back to 2/27/2022...The last time Oxy was $48.61. Everyone was working hard and doing their job on the Titanic just before it floundered and sank too. Your certain job does not seem to move the needle. The debt is the only reason you are not a footnote in history.
I don’t agree with everything Oxy does, but I was hired to do a certain job and do it. Oxy has paid me as well as other companies and better as well. Great benefits make it that much better. For me I am happy with the company as a whole.
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Wow, That tastes like sweetened Oxy HR Kool Aid to me. I'm glad you are paid well and the employees are fat and happy. Hope you are saving some of that cash; if the stock price doesn't rebound you will be on the M&A short list. Shareholders care little about you, return on investment is the driver. There is little value in Oxy (Except for WB and his 8% dividend). Get used to layoffs and downsizing soon.
What kind of rating and bonus would I receive after losing a third of the company to Buffett, poorly timing two acquisitions, diluting shareholder value, taking on debt, and overseeing a stock price that is lower than when I took over more than nine years ago? Hope my boss gives me good bonus this year.