Well this will suck. Make it through this ROM and work 3 more month and get fired in January with no severance. I did not believe it when it was said to me and the reply was "We are cutting the cost of vending machine space for the dividend, severance is a benefit that Chevron does not have cash budgeted for next year!".
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The Chevron suite at NRG Reliant Stadium will remain there for now. It will only take 1 more employee to make the layoff list to pay for it. Those execs don't like to give up their perks when it only would cost one poor employee his or her job.
All the Chevron swag (mugs, hats, t-shirts, gym bags, pens, mouse pads etc) from the various forums and meetings will be just like all the Enron stuff, doomed to be sold on e-bay as a reminder of what this company used to be. I'm curious about the Chevron suite at Reliant Stadium - does anybody know what is happening to it?
Wonder how much that chevron mug could get on ebay.
Wrong the WARN act has to give employees 60 day notice of a mass layoff. If you are let go within those 60 days then they would be required to pay you up until the 60th day. After 60 days you get a Chevron mug, and a Chevron Way Pamphlet as a parting gift.
2 months of pay is a level requirement dictated by the Warn Act. This is not severance though.
The guys who got laid off now should consider themselves lucky.
I don't know a y thing but the board can approve that everyone gets a trio to vegas. That does not mean we will get it. Chevron does not have the cash. They will conserve as much cash as possible. After next quarters earnings call I would be surprised if we get anything. I will be happy with the 60 days.
I mean Chevron doesn't have cash. Sorry about the typo in my previous massage.
Chevron doesn't cash folks. It shouldn't have wasted so much money on severance this year. They shoul just cap it to 6 weeks or just zero.
Board of directors.
Bod?
Check closer I saw BOD approved thru 2016.
Wouldn't be surprised to see the "you'll be on payroll for another 60 days" be the extent of the severance package next year.
Please keep in mind the severance is not a benefit nor a legal requirement. I haven't seen any notice yet if what you claim, but I won't be surprised either. If this communication did come out, Chevron is only positioning itself and alerting the employees of a change which may come about. I do think though, that Chevron's tradition of paying a severance will continue after this year, only it could be different, including a lesser payout. So, prepare yourselves.