Email
Print 
Bookmark
Occidental Petroleum is looking to thin its workforce by offering voluntary buyouts to current employees, according to multiple reports.
Workers have until May 26, 2020 to submit voluntary resignation offers. Oxy asks employees to specify "the number of months of base salary they will accept in exchange for voluntary separation from their employment."
It wasn't immediately clear how many employees the company is looking to cut or what will happen after the voluntary buyout process. Numerous E&Ps have announced layoffs in response to the market downturn caused by the COVID-19 pandemic.
| Category | 2020 | 2021 Est. Initial | Updated 2021 Guidance | %Difference (2020vs 2021) |
| Total Capital Expenditure($mm) |
|
|
|
|
| Rig Count |
|
|
|
|
| Production Daily Equivalent(boe/d) |
|
|
|
|
Related Categories :
Job Cuts / Downsize / Layoff
More Job Cuts / Downsize / Layoff News
-
Marathon Trims Workforce by 100 Employees (5%), Reduces Exec Pay
-
Shell to Cut 700 Workers As It Shutters Louisiana Refinery
-
Parsley to Lay Off Austin Team as Part of Merger with Pioneer
-
Exxon to Cut 700 Houston-Based Employees from Workforce
-
Whiting Revamps 2H20 Plans, Corporate Strategy; Cuts Workforce, Adjusts Exec Pay -
Permian News >>>
-
PHX Minerals Reports Change to Credit Line -
-
Devon Sells Wind River/CO2 Oil Asset; Production Update
-
Rig Activity By Operator: Week Ending March 27, 2021
-
Ring Energy Promotes Exec to CFO Role
-
HighPeak Boosts Capex 20% for 2021, Drilling Up 47%; Full Year 2020 Results -
