You actually expect there will be a CIP this year? You are an optimist. There will be a dividend but i doubt there will be any CIP or Stock Options.
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What does the Bureau of Land Management have to do with this?
Yes, if you were on the payroll April 2 2020 or later, have >5 yrs service, and were not laid off, you get a prorated CIP. It’s going to be peanuts next year, so don’t expect much.
If you quit or get fired for cause, you do not get the CIP bonus. No need to ask HR and have them ponder why it was you asked, unless you are a bumbling fool who goes around asking these kind of questions. If you are this type of person, you will likely be getting laid off, and yes, you will get a prorated CIP in this case.
If you are taking a non-early retirement (check your points), you are not eligible for CIP. Company may elect to pay prorated CIP to those left standing in a ROM. That would be a Board decision I believe. Either way CIP metrics not going to be exactly exemplary. Call your HR business partners for clarification. Its not meant to be a secret.
I believe if you resign voluntarily, do not retire and do not go on to work for an affiliate of Chevron, you will not receive the CIP payout if you are not on the payroll in March 2021
I would not be surprised if Chevron will cave and pledge everyone’s CIP bonus to BLM. It’s going to be a very small CIP anyway. This won’t affect the executives and PSG 26+ management.
All other IOC's have cancelled 2020 Bonuses. CVX has not announced this. I think EXCOM are waiting to pat themselves on the back after laying off 8000 people and claim these savings so BOD can approve a measly CIP factor.
The 2020 CIP announcement will start with “These are unprecedented times”
Yes, you had to have worked until at least April 2nd to receive a prorated CIP for this year. The payout will be in March 2021 (if there is a CIP for 2020).