Severance estimates have been sent!
12y+, 70% of base salary.
Working notice may be provided, nothing about RSUs..
What are your thoughts? Are you happy or disappointed?
Will this impact your decision for the mobility survey?
33 replies (most recent on top)
Once you get the severance document. Make sure you have a lawyer review it.
@aj yep according to Chat
22-24 months of total compensation is a realistic and supportable estimate in your case.
This range reflects:
• Your very long tenure (near maximum in court precedent)
• Specialized senior role
• Your age (50 is a key threshold in case law where courts begin to recognize slower re-employment)
• Industry volatility (oil & gas downturns can lengthen job searches)
@ Do not accept less than 18-20 months' pay without legal advice.
@ht better than mine. A lifer here, with 25+ years. Mine works out to about 2.7 weeks
2.8 weeks/ year, experienced hire
Writer says consistent low performance got a package. This is a joke. You have one shot at NSI then you are done.
@ev I think you could take them to court over the RSUs and given the different treatment they are proposing.
Also if you are mobile and they offer you a demotion and you don’t want to accept it and instead plead constructive dismissal, they should provide you all RSUs.
@ea I agree. The RSU issue seems to be a red flag. They are meant to be stripped if you initiate seperation, but not under these circumstances. The decision tree in the RSU communication provides RSUs only to those that are mobile but not offered a position. Those who are not mobile loose all invested RSUs.
Anyone know of any legal precedent where retention of unvested RSU awards is possible upon separation? When the employer unilaterally changes the terms of employment like this, I wonder if employees would have a case
One individual I know was released from the company for consistent low performance. He/she got 1 mo per year of service. This individual is actually lucky to have been cut prior to this announcement.
Other things that will factor severance is XOM's way of doing things is so specific and making skills not easily portable to other company / finding jobs. For people with over say 10 years of service, Common Law Entitlement will likely kick in making the number much higher than what they are offering at the moment.
@dx for the experienced hires with minimal years of tenure and low severance amounts, consult a lawyer and take them to court. Not much to lose and everything to gain and you will be helping all of your other colleagues in the process.
Many experienced hires brought in over past 15 yrs receiving offers of 2wks/yr of service.
Is it relevant at all that many who were laid off over the past few years were given 1mth / year of service? Does that help claims of others who may choose to fight?
FYI once you are terminated you have a very few days to accept their offer or forfeit severance and then spend your own money to fight for whatever you may end up with. That’s why everyone ends up taking it even when it’s low - how could we possibly come out ahead s being our win money against this corporate giant?
Get your employment lawyers lined up now.
4 months of current year Salary at 5yrs experience. Atleast make it 5 ffs.
It's a lowball estimate to get you to say it's not worth staying and just quit.
Ppl also need to know precedence severance from IOL, they will need to at least match that formula or risk a giant lawsuit.
I have a feeling they are setting a low tone so that when you get your actual calc upon confirmation of separation, you will be happy to get more and not bothered with legal option.
12 yrs of service, 80% of current year salary, same "less all statutory deductions” wording. Probably just a HR script, like our EMCAPS, 1 size fit all. Apparently their future vision is one tower design fit all.
No recognition of age, or the fact they are diluting a professional market in a downturn in a sigle city. The lawyers are going to be richer from this.
I don’t understand, it states an amount but then says “… less all statutory deductions”. What does that mean?!
Like taxes and other statutory deductions?
Some people are stating this doesn’t include the tax calculation which means they are giving 3 weeks per year
3 weeks per year. Need to reject your offers and sue.
my offer is capped at 18 months, it seems us oldies will need to fight back for the 24 month max, even chatGPT says I'm being low balled. Come on EOM, do better, you took my whole life.
Someone who has NO intent to move and has a low severance offer should take them to court, just to ensure that the story of this is heard wide and far. Gofundme for legal action would raise plenty of funds.
Exxon already did this to employees down south. It's what they do. You all will be training your replacements or forfeiting your severance as well.
@aa Sarnia Research could have told you that. We are 18 months into being told we are done and still have no firm end dates or severance info...
Imperial orchestrated this with ruthless precision to minimize their liability. It will take months, if not years, to properly staff and train 900 replacements. In the meantime, we’re trapped, unable to apply elsewhere or leave because walking away means forfeiting our severance, which only amounts to about three weeks per year of service (before deductions and tax). The whole setup is designed to push people to quit rather than endure being dragged through the process. Well played MC!
Apparently for me it’s 3wks / year plus two months.
Classs action lawsuit?
@a6 yep, confirmed... 3.3 wks for 14 years of service.
3.3 weeks per year of service 14 to 15 years of service.
approx. 3 wks per year of service, I have less than 10 yrs of experience
Appears they are limiting it to 18 month maximum. Will be below 3wks/year if you have more than 26 yrs service.
@a2 3 weeks
How many weeks per year of service?