If they really want to lower US headcount they'd get a little more creative. if they'd just bump me up/credit me the 10 years for the retiree medical. I'd take any EOI they'd offer. As is I'm 3 years years away and holding on for dear life.
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@jf
2020? That EOI had a 3wks per year severance if I recall correctly. (Which was crazy.)
The next EOI will offer .png's of cartoon apes for as severance. (For investment purposes as they will likely be pre-tax, and subject to 10% penalty if used prior to age 59.5...)
I was able to “thread the needle” last layoff. Meaning get a better job , get EOI, and no employment gap. Its tough because you need to start interviewing 2 months before you leave, timing is tough. You have to juggle job offers. I would just quiet quit, look for dream job, and consider that severance.
"...holding on for dear life". That's about right. There's not much you can do but hope. Unfortunately, each layoff round seems to have fewer and smaller enticements. 2020 "graduate" here, it's really a shame how far Chevron has sunk as a company in just 6 years.
Believe me, go now if that is what is holding you. The benefit is simply not worth much for each incremental year you stay. Run the numbers yourself.....
EOI isn’t the same anymore. They lowered the max you can get even if they do have EOI. They are ready to stick it to you to make more money.
@a4 it's that gap from 50+ to 65 that it helps cover. Agree the post 65 isnt worth alot.
I wouldn’t count on too many more EOI’s as the new Performance Management ranking will take care of that problem. There “might” be one for 2027, but it will be much smaller. If you want EOI take it while you can.
Same 3 years to go. EOI where art thou?
@a5
Don’t disagree about any of that but just one part.
There is no “free money”; you earned that benefit if you worked for the company and satisfied the eligibility requirements.
Once you are no longer in the employee insurance pool, your monthly costs for private insurance will jump significantly. If you are over 65 it is mandatory that you join Medicare and pay both the premiums and IRMA, plus you need to purchase a supplemental plan. The Company retiree contribution doesn’t come close to covering these increased costs, it’s about $100 but it’s free money.
You must be 50 yo AND have 10 years with company.
Same but less than 3 years to go. Everything I’ve read on here its really not worth much. But you have the option to purchase and cvx might contribute $100 towards cost it’s definitely not free.