Thread regarding Chevron Corp. layoffs

If you need funds from your 401k disbursement to cover the cost of plane tickets and hotel reservations you should not have retired.

Oh, I guess more likely you are one of those that got sh!t canned. Good riddance.

Yea, That's exactly what I thought too, I was looking for the layoff discussions and threads, and I found this nonsense, like a company chat room for people with no life and no real friends....

1d9HbEML: are you the same guy who posts the same complaint on every thread that the discussion is not focused on layoffs? You might want to get a life, let it go, and look for work. The economy is now well on its way to recovery and despite all the talk about energy transition and global warming American’s are still drive huge cars and oil is rapidly returning to $100.

I heard that there was a layoffs site somewhere around here, to discuss layoff topics. Does anyone know where that is?

I had a similar delay a few months ago, but it wasn’t a big deal. I think it was only 2 business days for my Fidelity 401k to be rolled over into a new Fidelity IRA. If any retiree is planning on liquidating or rolling over their 401k to another retirement account, please consider selling your CVX and or mutual fund positions and having it settle into your cash settlement account first. Once you have 100% of your holdings in cash, then request your rollover. You’ll find everything goes smoother. The transactional accounting is also easier to understand. One other word of advice with Fidelity or financial institution you have, make sure to link your 401k or IRA account with your primary checking account at your external bank. If one day, you require a quick taxable distribution or in the worst case scenario, you need to liquidate 100% of your retirement savings, you at least have a linked checking account set up. Who knows if an emergency arises after hours, on a weekend, or when the phone lines are inundated with calls, you can quickly accomplish the task you need from the comfort of your PC or tablet.

I am a little concerned about Fidelity since they have a large real estate fund that was heavily invested in the China Evergrande real estate. Hope the losses stays contained to the fund.

I've had pretty good service with them on my lump sum distribution and related investments, along with 401k, but granted in my case just monitoring balances and buying and selling with no liquidating yet. Actually my 'old' Chevron 401k (with not much Chevron stock) has done pretty well in the vanguard index funds I've kept so haven't rolled 401k over yet. Most everything I do is through online portal. I do like their 2% Visa with no fee where points roll directly back into IRA....

Yes, I had similar problems. Hang in there, eventually everything works out.

It is not only them, give it 4 weeks time. It goes through lot of regulations to clear the transaction and liquidate your assets.