I understand this situation is not exactly ideal, but I don’t think we have had as deep of cuts as people around here are making it out to be. What % of the “combined company” have actually been let go through VSP/Layoffs? Not as many as there ought to be. The truth is everyone is aware they could have laid off more but they are hoping for “natural attrition” to save them on downsizing costs. In short, they easily could have chopped down another 25% of APC, but won’t because they are relying on those reaming to tire of mgmt incompetence before their three years of protection is up. Put on your big boy pants, this is a war of attrition.
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So APC was completely mismanaged..all the way to a $57 Billion purchase price, including debt? Obviously they were doing something right for both Chevron and Oxy to bid so much for them. But Oxy sure is being managed well. Just look at that amazing stock price!!!!
If I’d be offered a 3 year salary SVP package I’d take it in a minute. Also APC was really being mismanaged. APC people complaining is like being in a bad relationship, getting dumped, and still missing the ex.
That was one of the best COC packages I have seen. Most in industry were green with envy. I’m surprised Oxy didn’t tried harder to work around it.
You obviously don’t know the numbers, do you? Perhaps you’re disconnected sitting in Greenway. Every APC employee who received the VSP has the numbers, as it was sent out as a requirement due to age laws. I’ve seen a copy of the packet thanks to a friend. It looked like between 80% and 90% of all APC employees who qualified for the VSP took it. At least a few additional APC employees who didn’t take it but qualified for it were let go this week. So there aren’t close to 25% APC employees in that category left. There’s 10% at most. Oxy did a good job of getting rid of most of APC already. Most of the APC folks left are here in GoM or other areas where we couldn’t qualify for the VSP or the CoC, as our jobs are “safe.” Trust me, if they some day tell me that I qualify for the VSP, I will raise my hand immediately to get out of this awful company. But I’m not giving up my CoC early. I don’t know many who will.