I saw the article in the Bakersfield Californian about the 60 new layoffs (Feb. 2021 - link below) - of course heavy on the technical staff who do the actual work smfh. I heard Long Beach also had layoffs - any idea how many or what... — read more
Topics regarding layoffs at California Resources Corporation
Is this true?
Found this buried in a thread. How true is this? I have a friend that used to work in HR and he said that HR is a joke. Rules only apply to everyone but them. They drink at lunch, provided their intern with educational reimbursement while denying... — read more
Lame Company Full of Lame People
Lame Company Full of Lame People. Should have stayed bankrupt. Please do everyone a favor and delist your worthless stock from the NYSE.
Job posting
Job requirements for a typical CRC manager: Overweight Entitled Narcissistic Undue Confidence Bigoted Petty Uninspiring Ability to watch others suffer without intervening a bonus Little to no ethical standards for self or others a... — read more
Wow! It's so fresh.
Fresh! New! Sporty! s-xy! Oh, no. That's just that t–d of the company, CRC, with some new wrapping paper. Fast forward to the Town Hall. "We're setting sail! Bring in the investors!" Fleece! Fleece! Fleece! (cue triumphant and inspiring... — read more
The constant reorgs are atrocious
The last one, which absolved asset teams and dispersed everybody's responsibility, was so poorly planned and communicated that a whole 10 months later there is still confusion as to who is supposed to be doing what. Now, we have more layoffs. Guess... — read more
New layoffs
9th round of layoffs. I’m starting to think the problem is Upper Management...
Bankruptcy Announced
Toxic org spun off from a toxic org...full of toxic attitudes and a toxic financial statement. Corp culture is trash. After a ch 11 reorg another round of "lunch meetings" am certain this will be a topic again in another 5... — read more
California Resources Corporation could file for bankruptcy this weekend (link)
https://www.marketwatch.com/story/california-resources-could-file-for-bankruptcy-this-weekend–wsj-2020-06-08 “ California Resources Corp. CRC, +34.32% could file for bankruptcy as soon as next week, according a report in The Wall Street Journal... — read more
CRC Bankruptcy Expected?
Four candidates: Oil prices imploded earlier this year, which has decimated many oil stocks. Things have gotten so bad that several have already declared bankruptcy. That trend is likely to continue in the coming months. The list of at-risk... — read more
“Self selector” checking in to laugh at your stock price
“Self selector” checking in to laugh at your stock price
No Firesale Here
Shale production will decrease. Oil price will rise. We will do more JV. We will reduce debt and refinance the rest. Share price will recover. We are not do fire sale here.
Will CAL Resources corporation be sold?
If yes, when?
50-60 employees laid off
Another "voluntary early retirement" followed by a re-org with around 50-60 employees let go.
$7.7 MM Salary?
Todd your salary of $7.7 Million dollars is far too high and way above the median for companies of this size.
Board of Directors?
Why is an ex-Oxy geologist on our Board of Directors as the HSE Director? Hmmmm....
Goodbye Todd
Hope at your next job you do something useful, instead of being Oxy's b****.
Layoffs are coming
With the change at the executive level in Operations....... they’re coming
Layoff done in Feb....
Have you started working or are you enjoying this year like me? Haha
Final Check Question
If the last day for notice pay is April 17 and crc continues to follow the same pay schedule, that means that there is a payday on April 8. Do we get paid on April 22 for a week of pay or are we getting shafted again?
Prospective employer confirms CRC employment through a service. Employer calls or via computer gets employment dates and salary.
I was told that only dates and salary are given out. No reason for termination, etc. No CRC HR personnel are involved. Looks like CRC cannot screw you over one last time. If you are using someone at CRC for a reference that's different. Prospective... — read more
For those with questions about taxation - 40% is the total of ALL taxes taken out
Those guessing about taxes are wrong. When you add up all the taxes taken out for the bonuses or lump sums, the OVERALL tax rate is around 40% as it always is. The Federal tax rate is 25% (see link below, section 7), CA is from 5-10%, social security... — read more
Bonuses had 40% withheld not because CRC had to but because they could. CRC is using your money to work the "float". Much like kiting a check.
Why didn't they choose 25% and give the poor sods they laid off a freaking break?
Stevens goes on and on about West Point. His degree was engineering mgmt, not even real engineering. 5 yrs as Office Mgr for "army service"
I am so embarrassed for him right now. The way he acted I thought he was a Ranger or something. My "coin" means so much more now.
Good luck to all at CRC and Elk Hills
Feel bad for everyone at Elk Hills. Oxy really screwed them over, which isn't a first for that disgraceful company. All the filth and slime slithered off to Houston prior to the sale and the people left holding the bag are now paying for the terrible... — read more
When is CRC depositing bonuses for the laid off, terminated, fired employees?
It usually goes in on the Saturday before (keeping with Oxy schedule), but I checked my account this morning and there was nothing. Is this still CRC playing games and making promises it can't keep?
Do everything you can to find another job. Immediately! If CRC files for bankruptcy - you are screwed. Probably be broken up & sold.
I don't think there are any buyers. Maybe for choice pieces but how many companies still operate in CA willingly?
More Layoff?
http://www.edd.ca.gov/jobs_and_training/warn/WARN-Report-for-7-1-2015-to-2-25-2016.pdf
WARN ACT PAY? UNEMPLOYMENT?
I WAS LAID OFF ON 2/17/16. DO YOU KNOW IF THESE 60 DAYS NOTICE ARE CONSIDERED WARN ACT PAY OR PAYMENT IN LIEU?. I DON'T KNOW IF I SHOULD WAIT TILL THE END NOTICE DATE? IF ANYONE HAS MORE INFO? Section 1265.1 of the Code specifically states WARN Act... — read more