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
Topics regarding layoffs at California Resources Corporation
9th round of layoffs. I’m starting to think the problem is Upper Management...
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
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
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
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.
If yes, when?
Another "voluntary early retirement" followed by a re-org with around 50-60 employees let go.
Todd your salary of $7.7 Million dollars is far too high and way above the median for companies of this size.
Why is an ex-Oxy geologist on our Board of Directors as the HSE Director? Hmmmm....
Hope at your next job you do something useful, instead of being Oxy's b****.
With the change at the executive level in Operations....... they’re coming
Have you started working or are you enjoying this year like me? Haha
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?
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
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
Why didn't they choose 25% and give the poor sods they laid off a freaking break?
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.
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
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?
I don't think there are any buyers. Maybe for choice pieces but how many companies still operate in CA willingly?
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
Anyone applying for unemployment? Do u know if have to wait till notice and severance pay end date?