Thread regarding Pioneer Natural Resources Co. layoffs

PREPARING FOR THE PACKAGE

When I packaged out in 2019 HR was not really organized to give advise. But, if allowed let me give some points to assist.

Roxanne Shultz is a wealth if information in HR, make her your contact SHE HAS THE ANSWERS

Most likely if you package you will be in the 39% Federal Tax bracket in 2020 on your 1 1/2 salary, PTO, stock options, 24K medical. So don't spend hold back 40% for your taxes. NO CORVETTES

Get with your tax man so you don't pay a penalty for underreporting in 2020.

If 66 or at your legal retirement age and I doubt there are any . 66er's left apply for Social Security Parts A and B don't delay if after 30 days there is a horrible penalty.

Look at Medicare options quickly, 30 days. COBRA is not recognized as medical insure by Medicare.

COBRA for one month one person is around 900.00, so take care of your health and don't get sick

Get very familiar with the HSA website how to move money, get money and submit invoices.

Make contact with the woman in Legal that does the stock options or payments to you paycheck.

Get your company mobile phone and contacts transferred.

Contact PNR life insurance and extend your whole life or other with them for coverage, will save you $ if you are over 50.

Work your last day at PNR, NO CLAP OUTS, and then take two weeks off to read, travel and get your head screwed back on.

Last day hugs all your friends that are leaving with you, plan a reunion in 5-10 years, and don't ever look back in your rear view mirror. THE PATH IS FORWARD

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Post ID: @OP+16u8hZB3

10 replies (most recent on top)

Let me add several items to my be prepared PACKAGE LIST.

If you have taken a moving package before it is PNR forgiven, make sure you get it forgiven in writing before you leave Pioneer. That is a taxable event to your income, so negotiate your departure package. HARD BALL TIME

Promptly file for unemployment with the State of Texas once you are let go, will be 435.00 a week and could be another 600.00 if Congress CARES. Will put food on the table if you have babies.

Before you go fill your 90 day pr-scrip-ions, do your dental especially crowns, schedule you lower GI if age applicable. Call your physician and ask for a sleep aid, I guarantee you will need it for several months. Slowly transition to Jack and Coke

Max your 401K if you have the money to get the matching 5%, once you leave move the 401K funds to your IRA. PNR settled a lawsuit for poor management of their 401K, you can do better outside. Watch your year end settlement as people leave money is redistributed into survivors 401Ks pro-rata

Read your package agreement and make sure there is not a non compete clause applicable to, GEO's, Tech and Engineers may see it. That is your future money and living if you have knowledge in the Permian Shale play. May not be legal in Texas

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Post ID: @2rws+16u8hZB3

Hey thanks for the compliment on my posts, my loyalty is to those people who will be packaging out in the next several months and the 4,000 people that have worked for Pioneer and left since I was hired in October 1997. I have worked for five operators in my 45 years in the oil patch and have been able to work in basins all over the world and offshore. But, it was the people that made Pioneer what it was and made it a great place to work. Don't get me wrong after the combination in 1997 with Mesa Petroleum it was a very difficult two years, both companies hated and distrusted each other, was a knife fight in every meeting. As I always said, "Pioneer was a people company, they just happened to produce oil" Remember BS&W if you know the field, good oil floats to the top and the BS walks

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Post ID: @2itq+16u8hZB3

Leaving PXD is like joining AA. Its part of your duty to help those poor people who still are where you were.

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Post ID: @1tco+16u8hZB3

Why you got to hate on DRY HOLE PLANO JIM @1kyq?

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Post ID: @1xai+16u8hZB3

For someone advocating to move on so much Plano Jim hasn’t moved on much

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Post ID: @1kyq+16u8hZB3

DRY HOLE PLANO JIM, best posts award!

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Post ID: @1sui+16u8hZB3

TT needs to prepare for my package.

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Post ID: @1jrp+16u8hZB3

Free at last, the PNR golden hand-cuffs have been removed and now you can use your creative side and decide what you want to do with the rest of your life. For a while "WORKING FOR THE MAN" is gone. When the oil patch is good it is like a line of coke, when it is bad it is like too many shots of Tequila and walking up hungover in a place called Midland, Texas. Midland an oilfield town where fortunes are made and lost, marriages are cheated on, and people's careers pay the price to work in an industry that is crazily commodity driven. It is a no win for the long-term, and a big gamble for the short-term. Working there you will meet some pretty awesome and incredible people, but you will also meet monster people that want to do you harm, and injure your very soul and being.

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Post ID: @1alt+16u8hZB3

: @zcp exactly right. Even before the last reorg, they had no business making DK the VP of operations accounting. She got to where she was because of TP, a true leader. DK is not a leader of people; she's a glorified box-checker. We learned about people like her in grad school. Don't work there anymore, hope it works out for my hard working friends

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Post ID: @1iym+16u8hZB3

Prepare to enjoy your life after receiving that package! No more do you have to witness sheer nepotism at its best! You don’t have to be bullied by a boss who is unscrupulous! The system allows then to get away with it! You don’t have to participate in the bs any longer!
Pioneer can be a great company for some but for others it can be a place that keeps you up at night watching your back!

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Post ID: @zcp+16u8hZB3

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