OXY spends money like a drunken sailor in Vegas.
OXY should stop everything and everyone to clear this debt in 2021.
No spending, maintenance only, and clean house
16 replies (most recent on top)
So who cares how long it takes you to do your work. There are 24 hours in a day and 7 days a week and you are on salary. Additional software is extra expense compared to your overtime which is free. Grow up.
If OXY would spend money like a drunken sailor then I would already have access to some technical tools which would help some of my work be more efficient and not have to do some things the long way around. And these cost less than $10K thousand dollars!
Given time, the debt will crush the company. There is no way out of this without $100+oil. Needs to happen anyway, you reap what you sow.
@3frh
“Competent” here. Was with you until the end there. There are many leaders who are protecting incompetents. But WFH isn’t changing any of that from what I can see. And WFH has made me even more “competent”. The a—ki—ers have less opportunity to get away with bs this way. Your work shows through your productivity. Leaders don’t need to see your face in person in the office to figure out how or if you are adding value.
If Oxy HR, managers, directors, and executives would evaluate people properly all of the slackers would have been gone 5 years ago and new slackers would be purged every year since then. You see, Oxy is so desperate and insecure that they will hire incompetents and keep everyone on the payroll except for the meekest of people who cannot stick up for themselves. So the assertive incompetent people really shine and have great job security in this toxic environment. Work from home has just made the problem worse. I am sure the competent people really want to get back to the office and the incompetents want to keep slacking off from home.
I'm LOXY and we have plenty of id–ts who do not work. It's this culture of yes man politics that's made Oxy such a toxic place to be.
LAPC aren't happy with the sh–show they've been thrust in to. hard to blame them.
LAPC says it all. Give me my COC and they are out of here. I still don’t understand why anyone would want to be without a job right now. You can WFH and still get paid, and it sounds like many just sit on their rears and do nothing. I just wish there was a way to let all of those go that wanted to go. They are not going to leave on their own, so they just keep dragging the company down. There are so many people who need and want a job that keeping the bad ones is a shame. I know people that have not even got a sniff of work from oil and gas for over a year now.
Debt will be paid down over time. There is no rush. We can manage our business and pay down debt at the same time.
Boy, someone needs some investment advice. Sell your entire OXY position and invest the cash in a growth company in a growth industry. You can also continue to use your capital loss to offset ordinary income by $3k per year to reduce your tax burden. Waiting for OXY stock to recover to pre-APC acquisition levels is a fools bet. Nobody forced you to hold on to your OXY stock during this debacle. That decision is totally on you! Your loss is permanent. Learn from this painful experience and move on.
So you just said she is incompetent. If she is Incompetent she should be removed. You people still think the company exists for the employees. I have news for you in the USA the companies exist for the shareholders. Maybe you want to work for a private company. If that is the case get the hell out of OXY. By the way I am taking it easy because it is Christmas Eve.
Scrooge
without VH, you will be forced to come to crowded greenway plaza; without VH, you wil be laid off with only 2 weeks of package.
she is not as ideal and incompetent. But she is a kind and considerate person.
you can vote her out but be a man and stop cursing.
LAPC here. I could not agree more. Give me my COC and let me outta here.
Even though we exceeded the plan and are putting some effort into cutting costs there is always more that can be done. Just bring back the dividend to pre-covid levels and all will be ok.
I can tell you many of those things are already being done. Don’t just assume that nothing is being done because you don’t see it. If there are more layoffs at least Oxy did not cut folks during the holidays. Exxon and a few others are cutting people as of last week.
Fire Vicki and replace her with a doll - pull the string and it repeats “we exceeded our plan again, we’re very pleased with everything!”.
Many people I am sure have been advocating this for a long time. The real question is where can costs be cut that will not impact production or critical technical positions. Travel costs should be low now as should building administrative costs so no savings here. Bonus costs could be cut but not to zero because people will leave. Perhaps just a mandate to cut budgets all around by 15% is in order. Special studies and pilot projects should be eliminated. A hiring freeze should definitely be put into place. You could even let executives retire and not replace the positions. Go through and eliminate duplicate functions and positions. Reduce redundant software and don’t refresh hardware these next few years.