Heard upper level managers at Oxy talk about APC employees. Seems like APC’s well performance is being tied to their employees which is not a good sign . Most APC employees gonna be axed. Oxy believes their engineers and geos are superior.
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I am laughing at all you people that are throwing around that "axe" word like it's an insult. You obviously have no clue what a change of control package consists of. APC employees don't care who wins the end...the package is the same! Let me give u a hint: 2yrs salary, including highest of last 3 years bonus, Fully vested, and for folks that are still in pensions fund...WOW!! Our hands are up!! Thanks for the cash Oxy. You way over paid.
Whatever happens....APC is mud on streets and Al should feel like a fool, finally! Prob not though. Wondered what his end story would be, but never doubted his real character would shine so bright over the entire O&G Industry at the end if his career..that isn't a compliment, Al.
So glad I am not employed there, and should send a thank you bouquet for the great severance. Time off in the Spring is lovely!
Also, APC to go back to APC. If Chevron walks away, Oxy doesnt pull through?!
Ouch. That would be an extra large egg in his face and well deserved.
Oxy folks better hope they are superior to their APC countparts. Word on the street is Oxy’s severance plan is nothing compared to APC’s change of control package.
Woefully underperformed. Maybe. Or maybe our CEO decided it was HIS company and he could do with it whatever he wanted. As long as he could get the shareholders to go along.
Sounds like Oxy. Except for the part about the shareholders.
I'm taking one giant step toward FUKC YOU money when I get severance. So ... y'know.
Face the facts - when you are the acquired entity, it means you and your colleagues have woefully underperformed for a LONG PERIOD OF TIME. That's why someone can buy you and pay a premium for the honor. As THE LOSER you end up becoming a synergy that pays for the acquisition premium and shown the door. IMHO, APC employees deserve the fate that is in front of them!
If you actually saw the change of control package at APC you would want the severance too. Guess what Oxy doesn’t have a choice so it shows how little you know about anything. Keep your jobs oxy since there’s a line of people at apc wanting the package to begin with.
Well I wouldn’t say Oxy talent is any better than APC, but they’ve at lease had a long and successful journey of getting folks to work in Midland. Oxy is known to run operations with razor thin resources. My prediction is that if Oxy walks away with the prize, they’ll give folks the option to either relocate to Midland and populate the new building or leave on their own. Those that choose not to move to the oilfield and stay in the Woodlands will account for enough volunteers that little to no severance package will be needed. If Chevron is the winner, there will be lots of folks downtown asking for a new office with their new colleagues in the Woodlands.
Face it APC let go most of their talent in the past several years. most still around are whiny kiss ups who have been cashing in big checks and moan about the toxic culture of themselves and their peers. yeah, remember how apc got rid of the bakken, stumbled into the permian, bumbled the powder...gom... burp
APC employees will all be axed
FEWER people.
You must work at Oxy if you heard this info from UL management! Just exactly ? Any more info? Heard it was the people in the midland office causing low well performance since they hate Midland.
OXY needs CASH, and they have already said: no jets; no big buildings; less people. I expect their layoff package is going to be light, because, guess what, its CASH. Good luch APC employees. I hope your Woodlands homes are paid for.
Oxy will stick together and ax every single Anadarko employee before they ax any Oxy employee. It will be very "us versus them". I've seen it before.
APC people seem mostly indifferent to staying or going. So you have Oxy people wanting to keep their jobs and APC people not caring. The path of least resistance is that it be will be an asset purchase in the most literal sense.
Any excuse to justify what they've already decided to do will be raised. This is just one excuse.
But also understand that from the top down they need to tell shareholders how much value they are going to squeeze out of these assets, whether they believe it or not. Hollub is shooting at their feet and screaming "DANCE, PUPPETS!"
Think about how much pressure there will be to justify a transaction that seems more like an act of desperation. Or ego. Or maybe just getting swept up in the excitement of the auction.
And then who will they blame when the numbers don't pan out? What corners will they cut at what cost to whom? And who will have to "shovel sh--" afterward?
If you're happy with the severance, your future is promising.