Keeping people around could work out better long term claims Occidental Petroleum. As the rest of the oil industry faced the hard times and shed more than 100,000 jobs, the layoffs never came Occidental, or Oxy for short. Oxy kept to its strategy to hold on to people capital as times were bad, so that the company can ramp up things when things improve. Oxy kept its strategy by replacing contractor positions by full time employees.
Read more in the article published by Houston Chronicle on February 16, 2017
by Lydia Depillis, Houston Chronicle