With all the lay offs and 2020 just being a total S—t Show, is there any hope of Bonus next year? It would definitely help those out that got let go.
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We are borrowing massive amounts of money to the float the paychecks of the employees who still have jobs.
Refining lost $1Billion in the 3Q.
No, you are not getting a bonus. No, you aren’t getting a merit increase. Consider it a bonus that MPC hasn’t cut benefits for 2021.
It’s very simple: if the company doesn’t make money, and is borrowing money just to float base pay for thousands of employees.....they can’t afford to pay bonuses.
Is this a real question? If you are still employed by MPC in April, you should consider that your “bonus”.
Company can’t pay bonuses to FTEs when it’s losing billions of dollars.
Severance packages have contractual bonus payments but those who stick around won’t get one for 2020. Company will lose over $10 billion
I an confirm that bonus funds are being accrued and therefore will still be paid out. to what scale? currently unknown. but funds are there for this.
I can confirm that the bonus amount is part of the separation package.
Target bonus amount are part of the separation package (prorated for the portion of the year you worked) - if you are vested. In MPC terms that means employment of at least 2 years.
Our bonus metrics aren't bad and Hennigan can only take away so much of it in the current policy, but they could always change that between now and March/April next year. Even in the best case though, I'd be surprised if we even get close to target.
No way we get a bonus this next year (for those remaining).
Also - watch for the 401k match to get cut for 2021.
I believe target bonus amounts are part of the separation package (for the amount of the year worked).