Any updates on the technical bonus for Engineers and Geos that was sent out last month? Interested in what percentages people are getting and how its being rolled out. Will there be a match to 401k?
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Chevron giving everyone a bonus award for the quarter. But on top of that, they gave their AI technical staff a retention bonus for 3 years too.
Heard they even gave SAP analysts a retention bonus lol
Correct. There was nothing in the paperwork that they signed to get the retention bonus awards that prevents them from talking about it.
For Oxy though, why would we give these bonuses when there has been zero value delivered by PB’s AI org.
It is illegal to prevent employees from speaking about compensation.
@3b5 right….. but they cannot speak to it or else it’ll be taken away 🤥
@22d I can confirm from my friend at CVX that they gave out a retention bonus for AI engineers
@33f Sounds like you have it all worked out in your imagination.
@31f it’s the only transaction that makes sense for BH to recover the investment they have lost thus far with the drop in stock price. Chevron will need to negotiate the terms more in detail with BH but at a strike price of $70/share of OXY, that would allow BH to recover. This assumes an all stock deal. BH would own 10% of CVX at that point, would need approval for this and the stock dilution.
@31f Finally! We’ve all been waiting for someone to tell us what BH really wants. Who knew it would be an anonymous poster on an internet site about layoffs?
@318 Chevron is waiting- it’s the only way that BH will be satisfied.
Oxy employees be warned your company and your routines and self worth are going to be challenged very soon. Save up plan for the next 5 years. Greenway will look like a zombie office once half are terminated and the other half housed at the ex Hess office
@1dk no chance at Oxy because we don’t care if our employees leave. Just positioning ourselves to be a sale with good assets.
Plus, why would you pay AI staff at Oxy anything extra when all they’re doing is “training” people on copilot.
@1qc Can’t name even one?
@1dk I heard the same. Data and AI employees there are getting something like an additional 50% pay for the next 3-5 years.
@1qc are you claiming that some companies went bankrupt because they gave a narrow portion of employees extra bonuses? Can you name at least one?
@1pf other companies have done this to the detriment of the whole…then they went bankrupt and/Or purchased
This still isn’t confirmed. Would be good to head over there to the CVX board to determine where Oxy is headed. RJ is faced with growth or a sale. A sale makes the most sense. Very few will survive the acquisition, not sure on the final count of Hess employees saved but it was less than 10% based on Warn act filing
It is a big mistake to give extra bonuses to such a narrow group of employees.
@1dv ha ha good one.
I also heard that employees on their data and AI team at CVX got a nice bonus.
@1dk Isn’t an “AI employee” just another word for a computer?
I heard Chevron gave out extra bonuses for their AI employees. Any chance that happens at Oxy?
Why stop there... Sell Everything except the domestic acreage. The future is domestic oil independence isn't it?
What about a spinoff of the carbon capture business. Maybe something like CRC. This would still extract value from the technology and free up focus for Oil and Gas. Retained employees could go with the business and actually stay in Houston.
I smell bull.....
@se what is your source on this? Why should anybody believe an anonymous poster about what bonuses mean? I’m not saying you’re wrong, but why should we think you’re right?
@qs these type Bonuses are given when something material is about to occur with the company. some options
- Company sale or merger or divestment
- Company privatization
- Potential bad news bankruptcy in any of its forms for retention
Oxy does now that there are 5000 great Petro Techs out there right.
There are so many technical workers out there a retention bonus is not needed. Maybe one if they are going to sale some properties and want to keep those people because they know the properties. Again, there are tons of engineers and geos on the street looking for work.
It is a retention bonus.
Say what?? This is a thing? I have never heard of this. Lucky them. And someone please share. Give us a range and more background on it and whether this standard industry protocol: bonuses outside regular bonus period.
What groups were given this?
I would buy a Bentley like the Hawaiian shirt guy did.
Just too many employees.
Sounds like some people are bitter about more valued employees.
First world problems... I wonder if I will buy a Porsche or a BMW with my bonus this year ;-)
If they are afraid technical people will just quit they needn’t worry. The oil industry isn’t hiring right now.
Do Technical Staff Bonuses typically precede a Layoff event? Oxy upstream has not simplified in any measure. It’s a bifurcation strategy of onshore and offshore while the onshore folks span time and don’t divest any assets or simplify