Anyone have news update about this? It was supposedly announced today.
19 replies (most recent on top)
@FLOHTEt-1fhq. In answer to your question, were any high potentials "laid off" last year, I can tell you for a fact they were. I know some who expressed interest, raised their hand to be laid off. It's a shame things have come to that but the culture in chevron today is not what it was.
@FLOHTEt-1fhq it's a fact that high potential people were "laid off" because I was one of them. I expressed interest, raised my hand and volunteered to be laid off. I was even offered a 'Friends and Family' life raft. But I saw enough to tell me it was time to go. I'm not going to say too much that might pinpoint me. I don't want to jeopardize my benefits. I hope chevron comes through this. I'm still a stockholder. There are still high quality people working for the company. But boy things have gotten off balance in the last 10 years.
Be happy you are getting something..
IPF applies to PSG 21+.
It can be less than 1...only slightly if a 2. 2- or 3 it can be meaningfully lower than 1.0.
The PSG factors remain the same as last year. About the individual factor, if you were laid off, it does not apply to you. I think that last factor only applies to individuals with a 1 or 2+ ranking. Is it possible these Hi-Potential people were laid off?
Probably a 1.0 IPF...0.8 at worst.
But to continue the smart ass theme...
All ROM'ed employees are eligible for CIP but will recieve a 0 IPF.
So if we were laid off, how do we determine the individual factor??
I would be surprised if CIP is replaced. Regardless of what it is called, pretty much every company awards bonuses this way.
Target % * Corp Factor * Unit Factor * Individual Factor
Maybe the cash portion will be lowered and replaced with equity, or the targets will change...but not really any reason to change the methodology.
CIP is done as we know it......BCG is coming up with new bonus program.
CIP = Chevron Incentive Plan (I.e., an annual performance bonus program). What is it called at Halliburton?
I am with HAL - what is CIP
2016 Corporate Factor is 0.80 as announced by John Watson at the Global Teleconference this morning. (Last year is was 1.05). BU award ratings should be out tomorrow, Thursday. The bonus will come in the March 7 check.
They are asking for money back !
0.0000000008
The Petrotech bonus is likely to disappear too - currently at 8% per paycheck. Laying off people shouldn't require an 8% bonus to keep them, so that is likely to go. Yes, corporate is 0.8.
Expect no salary action was another key takeaway.
It is 0.8, not 0.08
0.8
.08