Our educational aid programs also extend overseas. Many Unocal employees in Indonesia, Thai-land and the Philippines participate in such programs, earning degrees from local colleges and universities. However, classroom training is only part of what we need to do. Our goal is to empower employees to take responsibility for their own professional development, as well as improve individual skills through coaching from supervisors. Recognizing and Rewarding Excellence Unocal provides employees with competitive salaries and opportunities for improving work skills.
Compensation is linked to individual, business unit and company performance.
Payouts are based on a number of factors, including Unocal's total return to stockholders. The company also offers other incentive compensation programs, including stock options. The Chairman's Award is Unocal's highest honor. As of June 1999, a total of 109 employees have received Chairman's Awards. Downsizing and Redeployments Layoffs and downsizing have become a painful reality in the energy industry in recent years.