They are flabbergasted by the way people were treated, benefits being cut off immediately, and most especially the stock being taken away. According to most of them, most reputable companies would go ahead and vest the stocks that were owed to the employees that were laid off. Those employees did not voluntarily leave the company, they were forced out and should be owed what the company gifted to them as incentive to stay with the company. I liken it to a child giving another child a toy as a birthday present but then taking it away because he would benefit from it. As far as benefits go, other companies would let the laid off employees continue coverage until COBRA could begin. By cutting it off so quickly puts the employees and their families at a complete disadvantage if something catastrophic happened. Like others have said before, if you still work for MRO just do the bare minimum, don't volunteer for extra jobs, and kiss the right butts and you will have job security for life. RIDICULOUS!!
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I was one of the unfortunate ones to be laid off. Never have I been treated this way. It is as if you are a criminal. An HR person giving me the news let me know that all my stock will vest on the official last day. What a big LIE. I lost over $100K. It was given to me as compensation for great performance, but then POOF - gone. The amount of talent they walked to the door was staggering. It was an amazingly short-sighted move on their part. The new HES VP gutted their emergency response team - better hope nothing happens. She knows crap about HES and most of the team hates her with a passion, but she loves her pets! But it isn't all bad news, some of the most shady, dishonest people got a promotion. Here is one - completely on the take (easy-peasy if you are in the D&C world), sandbags their numbers (in broad daylight) and bangs their staff got a great new job! So if you were a dishonest hack - congrats! Stay away from the company people, it isn't the MRO of old. Favoritism runs rampant here.
That is just crap! If you put in enough years to retire with MRO then they should give you your stock. Pretty certain many people were counting that towards their retirement funds. This whole situation has just left a sour taste in my mouth. I wouldn't be surprised to see many people up and leave on their own. I firmly believe in karma and the good ol' boys will eventually get whats coming to them. It might not be today, tomorrow, or even this year, but they will get a swift kick in the ass from karma.
Regarding the stock, I have some that is scheduled to vest on April 6, but was told my effective retirement date is April 1. Fidelity said that the company has the ability to move up the vesting date, but Hr told me that I will NOT receive it. Appears the timing on this chaos was very well calculated.
I agree. You are 100% right on how most oil companies treat employees during layoffs. The CEO got bad advice from the HR VP, and watch she will be gone after all the layoffs are done. The CEO looks like a fool and these guys egos are too big. The HR VP will pay the price for the short-term stupid decision, but the employees pay the ultimate price. Most companies would want the employees left to feel like their co-workers were treated right. All this did was kill morale for the current employees. Maybe management does not care because they are going to sell the company, or something.