Apache Corp. jumped as much as 5.6 percent after a website reported Occidental Petroleum Corp. planned to acquire the oil and gas explorer. The company is making the layoffs as it attempts to cut costs in the aftermath of its $38 billion acquisition of Anadarko Petroleum last year. Occidental Petroleum (OXY) announces an additional $800M cut to planned 2020 capital spending to $2.7B-$2.9B, a 22% reduction from full-year capex of $3.5B-$3.7B unveiled just two weeks ago. The Chevron-operated project comprises upstream resource assets in the Liard and Horn River Basins in northeast B. Occidental Petroleum is an Equal Opportunity Employer/Individual with Disability/Veteran Status. Callon Petroleum Company NYSE: CPE $36.27 down $-2.05 (-5.35%) KOS. And Occidental Petroleum eliminated 2,600 jobs, 18% of its 2019 workforce, and collected a $195 million tax bailout — $75,000 in free money per job eliminated. Occidental Petroleum started a broad layoff move this week, one affecting workers from Denver to Houston. But is the word “integrate” just a fancy corporate word for layoffs? Occidental Petroleum (OXY) closed at $13 in the latest trading session, marking a +1.8% move from the prior day. Yet six of them laid off a total of 335 workers, averaging one layoff for every $247,000 they received from the two tax programs. Nine companies, accounting for $406 million of tax benefits, added a total of 416 jobs — about 3.5% of their 2019 headcounts. … Occidental Petroleum Reportedly Making Further Moves to Cut Costs The COVID-19 pandemic, sharply lower oil prices, and a lot of debt has the oil company looking at ways to trim down. Read More Three companies reported no change in employment for 2020. Occidental Petroleum (NYSE:OXY) is initiating broad layoffs this week in an effort to cut costs, the Houston Chronicle reports, citing an internal email from CEO Vicki Hollub. Glassdoor gives you an inside look at what it's like to work at Occidental Petroleum, including salaries, reviews, office photos, and more. Occidental spokesperson Eric P. Moses told Inside Climate News that the cuts were associated with its 2019 acquisition of Anadarko Petroleum "and completed prior to the Covid pandemic and Congress' passage of the CARES Act." Icahn has been critical of Occidental’s 2019 acquisition of The Woodlands-based Anadarko Petroleum Corp. since shortly after the companies first filed their merger agreement in May 2019. Occidental Petroleum received $195 million and cut 2,600 jobs, 18% of its 2019 workforce. OCCIDENTAL PETROLEUM CORPORATION : News, information and stories for OCCIDENTAL PETROLEUM CORPORATION | Nyse: OXY | Nyse With the fresh news of Occidental Petroleum announcing layoffs last week, Chron.com compiled the 20 Houston companies with the most layoffs since January 2019… The stock outpaced the S&P 500's daily loss of 1.51%. January 8, 2020 • Stephen Rassenfoss • Journal of Petroleum Technology. Layoffs - TheLayoff.com. The layoffs and reorganization are expected to result in annualized savings of about $100 million, Occidental said, and no charge against 1996 earnings is expected. Occidental Petroleum Corporation (NYSE:OXY) went up by 3.97% from its latest closing price compared to the recent 1-year high of $32.52. 1920 Occidental Petroleum was founded in California. Glassdoor has 675 Occidental Petroleum reviews submitted anonymously by Occidental Petroleum employees. Oxy and Total Team Up in Colorado … Occidental Petroleum (Oxy) is an Oil Industry giant that cares for its people and provides America with petroleum and petroleum products. Occidental Petroleum Corp. Great offers from www.thelayoff.com Occidental Petroleum Corporation (Oxy) is an large American, Houston-based oil and gas company with operations in the United States, the Middle East region, and South America. 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