To all L-APC who've dealt with the clowns in HR who won't answer simple questions, been buried under extra layers of management, seen friends and co-workers laid off or leave, and who probably STILL don't have Oxy usernames from IT, HAPPY THANKSGIVING!
And to all the L-Oxy who have seen their stock funds and 401k decimated, eaten brutal pay cuts and never once been to the suite for an Astros game, HAPPY THANKSGIVING!
And to the big guy in the Hawaiian shirt... It'd be great if you retire soon.
Well said! Vicki, Oscar and the board (led by dopey Gene).
@dtrh, what are you talking about? Oxy drew up the deal. How did they not review it before signing it? That makes absolutely no sense. APC's finances were reported for years, and were pretty much an open book. The CoC was a public document which was available for years online, long before the acquisition. Anyone with any financial understanding could perform a reasonable valuation, and knew what they were getting and spending with the purchase.
Face it, the reason Oxy signed the deal is because of VH and her cronies. They knew they were overpaying, and smarter people would say no, which is why they decided very specifically to go around a shareholder vote. Don't pin this blame on anyone except for VH and her stooges. Yes, we all hope for a rise in prices, but the fact is that VH doomed us all with this purchase.
The only reason APC people came out OK is Oxy didn’t review the deal before they signed it. They couldn’t have. No one in their right mind would do this deal and send the company that you care about into so much debt. Let us all hope for much higher oil prices soon.
@6apa, at least APC's big bosses, including RAW, protected their employees through the most generous severance package I have heard of. Ridicule RAW for being a poor leader (he was), or a greedy leader (he was), but they did take care of L-APC far more than Oxy has ever taken care of their own. Plus, it was a shrewd move by RAW to sell high, with how things have turned out.
For those L-APC who were severed, most were covered by 2 years of comp plus full vesting of stock (which was actually worth something and converted to cash for the most part through the acquisition). Yes, some are having trouble finding jobs given the state of things, but many were given an extremely generous package to provide for that time. Most L-APCers that I know who were severed are happier than a clam. And for the L-APC who still remain, we're still covered by that generous package for more than 1.5 years, in the case of future possible layoffs. While Oxy has been good to some of their employees (WFH and retained jobs and 401K matches is good), they also have not been nearly as generous to many others. The APC acquisition has destroyed many retirement accounts and harmed all shareholders, the cut dividend has hurt them as well, some L-Oxy were let go with much less severance, and they cut the pay of L-Oxy. Face it, the APC acquisition benefitted many many people on the APC side, including myself. I feel well taken care of from APC. I cannot say the same thing from Oxy.
@yrr+184iV7Vn
No mass layoffs but layoffs are needed for functions no longer needed or for cases of poor performance.
Your big boss Al Walker sold you out to line his pockets do he can play with all the snobs in Nantucket like Jim Hacket.
That and finally the stock is moving up very fast too. I think we are heading to recovery and full speed in 2021. I don’t see any possibility for mass layoffs.
Sorry to hear so many are still unhappy. I am very thankful to have my job at Oxy. It has been a real tough year for many industries, and many people are out of work worrying about how to take care of their families. The pay cut hurt, but nothing like not having a job and being given a six month or less severance like happened to many. I know people that were laid off back in January that still don't have a job and have went through their severance, and are now paying high insurance premiums. Working from home and getting my full pay now really is a blessing to me. I wish everyone the best and take care. At least Oxy is doing the right thing by pushing coming into the office even longer. There are many companies requiring people to come in. I feel very lucky.
LAPC still keeps their nice salaries. Oxy employees have been treated as second class this whole year.
Good grief will you please just go away?
Karma Troll, are you have trouble finding Interstate 45?
And to all your victims, may they get the opportunity to pay each and every one of your back one day.
Looking forward to seeing how you people like it when someone makes you pay for what they've done.
As with all bullies whose victims pay them back, I'm guessing you wont like it.