Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Top Story | Job Cuts / Downsize / Layoff

Oxy Offering Buyout Deal to Employees

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Wednesday,May 13,2020

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.


Related Categories :

Job Cuts / Downsize / Layoff   

More    Job Cuts / Downsize / Layoff News

Permian News >>>