When do you really think EOIs will hit?
Seems like a lot of folks keep mentioning February 2025. Why is that?
I saw an article that mentioned structural changes and cost cuts completed by end of 2026. Is it possible that EOIs won't be sent out until next year (2026)?
What do you think?
The EOI’s will not start until the selection process begins for each layer. So people who want to leave will have the option when their current positions are posted. In my opinion, the number of positions available for most teams will be significantly smaller than current staffing positions. I believe 30%+ and some up to 60% reductions in the USA specifically while growing in other geographic locations.
A good valid source of information is tracking the WARN act data by state. Corporations that layoff a large amount of people must register with the federal government and announce the layoff 60 days before implementation. This is federal labor law but interestingly the ELT doesn’t mention that in any announcement. You can Google search California and Texas because these are the 2 largest sites where employees will be terminated. Each state will record the number of people terminated. In my opinion the the announcement will be recorded on October 15th so the 60 days will be December 15th and last day on payroll will be December 22nd. This all severance will be recorded in the year 2025. The company will want to record the accounting records with the majority of severance in 2025 for tax purposes and move forward with “resetting the company culture” in 2026.
most likely will take up 6 - 9 months of 2025 to complete the exercise
You're all forgetting about Hess. Hess yay or nay will shape the future Chevron. No EOIs until the Fall...
Past layoffs EOI were not approved until after the start of the selection process, which, considering the reorg has not even been officially announced yet, means approval and payout of EOI actions is at least six months from now and potentially longer.
They will get the majority of those approved for EOI’s out as soon as possible. They don’t want them “lingering” around and still receiving “benefits”….
I would expect EOIs submittals by employees to happen in March with most leaving within 6 months. The longest transition period without losing your EOI benefits will be 12 months and by exception only.
I’m assuming we will be notified of bonuses by the end of this month and will probably receive the money come Early March.