Any feedback from today's call? I am glad to see no rush to lay people off. See BHP and others last week. Horrendous. Oxy keeps rolling. I am happy to see where we are going as a company.
New initiatives, old initiatives wrapped under new names, Innovation, overseas discoveries, committed folks, split of HSE set us to better handle over-regulation from the Gov, DD&A soon to improve... and mental health support (whatever that translates to)
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Spot on. Layoffs for LAPC folks will be immediately following the CoC expiration in August 2022. OXY promised no changes to compensation and benefits but as soon as the one year CoC milestone passed, changed compensation and gutted the retirement plan. From day 1, VH and OXY have lied to LAPC about VSP eligibility, CoC and more. The lies continued yesterday. She can’t be trusted.
That is disgusting that they did the deal knowing that due to the COC they may have to lay off many LOXY people to create the synergies. Nice treatment.
Layoffs will be right after Aug 2022. LAPC COC package is too much.
I wish they targeted the content toward the audience. Employees who want to hear about free cash flow and EBITDA already listen to the quarterly financial reports and investor calls. The biggest topic on everyone's mind right now is the return-to-the-office next week, and that got 3 minutes of mention right at the end. It should have been the lead-off conversation.
By comparison, last year, Vicki used the call to address rumors of Oxy bankruptcy, and how she felt we were positioned. She laid out their vision of what the oil market looked like for the next year, and how we would handle different scenarios. I think that is a much more effective use of CEO communication time.
There are many activities that don’t need to be done. Eliminate those activities and reallocate people as employees leave. Layoffs will not solve the financial problems of the company.
How could the company layoff anyone? The company is already lean and can't lose anyone else. More people are leaving as the market improves.
Can the company lay LAPC people off without paying COC? It would be unfair to keep abusing LOXY people.