May 13, 2020 / 12:28 AM / in 14 days

EXCLUSIVE-Occidental offering employees voluntary buyouts over next two weeks - document

May 12 (Reuters) - Occidental Petroleum Corp is offering its employees voluntary buyouts over the next two weeks, according to a document seen by Reuters on Tuesday, after the company said last week it was looking at several options to shore up its impaired balance sheet.

The Houston-based company last week posted a $2 billion quarterly loss and has had to slash capital spending drastically to preserve cash amid the worst oil-and-gas industry downturn in 40 years. The company declined to comment.

Reporting by Devika Krishna Kumar in New York; Editing by Sandra Maler

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