Thread regarding Anadarko Petroleum Corp. layoffs

On the subject of severance, be careful how you complete the application for unemployment benefits. Make you you understand there’s a difference between the one-time severance payment you’ll be getting and another kind of severance that is paid periodically over time. Don’t gloss over this question and answer it wrong. The “periodic” severance type will disqualify you from receiving UI benefits immediately, whereas responding that you received a one-time full severance amount, will get your UI benefits started right away. There’s a difference. Don’t make the mistake.

If you do/must take the severance, make sure you max out your retirement contributions for the year. That's the least you can do to lower/defer your taxes.

You must be in the tax department at APC and relatively new. Good luck.

During the energy downturn of 2015, I decided to switch companies after 27 years with the one I was with. I was already pretty fed up with my employer and took the impending layoffs as the opportunity to jump ship. I started interviewing with companies in the energy sector that I respected for their integrity and disciplined culture. I landed a job offer very soon and I asked them to allow me up to three months to join the company. I told them my current employer was going to allow voluntary retirement to certain staff with a severance paycheck of 12 months pay. They complied and granted my wish. Within 2 months, the layoffs came and I raised my hand. On the third month, I was gone and with a one year check in hand. One week later, I become a newly hired employee where I’m at now. Chevron was my former employer and Exxon is where I ended up with a more satisfying company— At least for me.

Thing is while you are waiting on severance for the next year jobs are being taken off the market. That is the biggest thing while you sit and wait. If you plan on working any length of time most people need a job. Only a few end up getting the severance and a job the next week. You become a slave to the severance, and you better play it right, or you will spend it all in expenses. It is up to each individual, but just be prepared to sit on the sidelines for a while waiting on a job, and this is especially true for the technical side of things. At the company I work for I see good G&G people passed over for a friend of someone, so having someone inside is the most important thing. Plus, you might think Anadarko is the best place out there, but the APC reputation has taken a hit out in the real world. Walker ruined this company, and back during Allison and Hackett it was a premier company and thought of as a great place to grab talent. I have heard managers talk about hiring APC employees and working for APC does not carry anything extra anymore. We had one open Geologist job back in 2018 that garnered over 500 resumes, and after many interviews a buddy of the hiring manager got the job. It is who you know in this industry these days. APC has a lot of great employees, but don't think that will get you a job by itself.

You can get a good job anywhere. Chevron and APC are not the only two companies witb good benefits and salaries. Take the severance and find an equally good job is a much better option. Why leave money on the table.