Thread regarding Occidental Petroleum Corp. layoffs

Lubrizol

You couldn’t afford me even at my reduced price for special customers.

What's for sale?... You are of course. Stock to $65

Does this include lcv?I thought that was our future....

This is a smart way to sweep the failure of DAC under the rug and blame it on Chemicals. Start up must be going even worse than initially expected. No one is surprised. O&G needs to focus O&G vs trying to appease the woke.

@bm if the buyer knew anything about OXY, there would be a clause in the purchase and sale agreement, barring OPC from moving employees from the chemical division to corporate. That’s what I would do.

@dp you're annoying

You young ones...So much to learn. Hope your parents didn't renovate your bedroom, you may need a place to crash. Selling the chemicals division (Oxy cash cow) is the first of many dominoes to fall.

With10 billion more in cash think of how much more debt the company can take on with leverage. What’s for sale out there?

You hi-grade certain select positions in oil and gas. Exactly what you said. Hire from Oxychem and lay-off from oil and gas.

Oil and gas needs a layoff and not pick up more folks. What are you talking about?

Oil and gas should pick up some of the OxyChem people. They are very experienced strong technical people. But they will probably have a package which will retire lots of people.

What will happen to Dallas employees? How many will get cut? What’s the package going to look like? How many absorbed? When will we officially hear? Will it close in 2025 or 2026?

Does this mean we will be bought out? We have been selling tons of assets. Asking as a less than 3 YOE that got hired on from college

@a9 Why is this judgement day?

As an employee, this isn't that shocking , always lingered in my mind since centurion divestiture. It is still shocking from a cash flow perspective, they are safe money for us.

Too late to save the boat... Throw overboard all of the fluff and all you are left with is an average o&g company. It will eventually be sold and stripped down just as Oxy did to APC. Into history like Marathon... Who remembers them now?

Vicki is a super nice lady that will go down as one of the worst CEOs in this companies history (when we look back on the tenure a decade from now). Some of it was unlucky timing, but at the end of the day the body of work is poor no matter what metric you look at. The only positive from her time at oxy is that she created so much debt that Oxy as a whole was not an acquisition target and employees got to keep their job, benefits, and no real risk of layoffs for many many years. And for some, thats a big win. But history will not be kind to her IMO.

If this happens it might be best for Oxychem and employees. Now if we could get rid of LCV and DAC and get back to being an oil company with paid down debt then it works out well for everyone. Never again should the BOD allow any CEO to borrow and spend money like we have done over the last 5 years on acquisitions. If we had of never bought APC none of this would of been needed. Could of just picked off some smaller companies like Crownrock and bought properties. The showdown with Chevron should of never happened. Plus, we had to pay them a billion dollars. Sure, we might have been bought now without the debt, but that would of been a chance worth taking.

This is a reminder to y'all who thought Oxy was a daycare center and VH was only looking out for your well being... guess not . This is your graduate course in life is not fair.

And so it begins.... Getting right sized to sell... All the sage wisdom on this site and now judgement day is just over the hill. Hoping there is a nice bump in the stock price when the acquisition is announced.

Not announced yet. Should know in the next couple of weeks.

Who is the buyer ?

Is it Buffet?

Good bye OxyChem. It was a pleasure working with you folks. Wish you the best on the path ahead.