If the results are bad, the chances are we're looking at more layoffs and more PIPs, but what about good results? Will good results mean that we are safe for a while or do they only take results into account when they need an excuse for layoffs and not when they could be used to prevent cuts?
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Always look forward to quarterly review and then disappointed when its a cut and paste job from the previous quarter. GOM looks to be adding value but the show is always about the Permian. Stock not reacting to the positive news....
Tell by these boards that there is still a lot of deadwood to get out the door at this company. To think we have the nerve to compare ourselves to Chevron or Shell.
OP get serious. There are no layoffs being planned. Are you for real or maybe you’re mnemonic. Wow!
Big one 97, 2001 Bako, 2005 prune, large one 2007 after Libya dry holes, and Midland close down, 2009 Market crash, 2011 Permian Reorg break in 2, 2015 little prune, 2020 Covid, 2023 disappointment after over promises, under deliver.
As always it is a very weak presentation.
That was a cr---y Q4. More than a 10% miss on EPS. Ugh
When are you safe? Companies do not need a poor report card to start swinging the axe. Companies like Exxon is constantly pruning the deadwood. Do a good job, be visible to management and try to save as much of your yearly bonus as you can … you should weather most storms.
You are very naive thinking that if you do a good job then you won’t get payed off. Nothing could be further from the truth. Sometimes you get a good rating but your position or function is closed out or your skills do not align with the future direction of the company. They do not require a PIP for layoffs under a cost cutting program.
Yes, VH has made it a priority to avoid layoffs. Hopefully the slackers have been weeded out along the way on an individual basis. Otherwise they can take the organization down. It could be time for another VSP to rid the company of more talent like they did three years ago.
Since I have been at Oxy I have only seen one true layoff, and that was early 2020 before Covid and right after the APC purchase. That is not to say people have not been let go for fault, and we had a lot of people take a VSP at certain times, but I don't see a VSP as a layoff. Oxy has done a great job under VH in not having layoffs. I think 2022 will go down as one of the best, or the best financial year Oxy has ever had. If you do a good job layoffs should not even be on your mind.