Nice kick in the balls as the kick our ass out the door.
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Hey @4qxf - It's a good tactic when it doesn't involve you. Right? Your comment sounds very selfish and not funny at all.
Good tactic to reserve cash. Everything helps.
Agree with @1lfm. The 2016 SESP has been approved in 2015, knowing full well the magnitude of the layoffs. Yes, the company has the right to change it, but it would unnecessarily cost a lot for the little gain to change it now. Of course they can change the 2017 SESP.
Hey @1pzh, you probably haven't been at Chevron long enough to know that when Chevron posts an approved policy and stipulates the time period (in this case, for 2016), that is as good as GOLD, dickwad. Like you uttered, anything can change, but rest assured you can take this one to the bank... The severance plan for 2016 is set and will not change.
More Dead Wood on this thread beginning to show it's little ugly branches so that it can be more easily identified to be cut from the tree. A sure sign is some victimizing reference like - "Everyone else is friends and family but me" Waahh waah waaaah little baby.
Ah 20 billion in Capex was approaved dick wad.....and now it will be cut by 4 billion. Severence is a benefit not a right and can and will changed as needed....so grow up and understand what you read can change...Grow up.
As stated by @wxu, who actually researched the FACTS on the company's ESP webpage, the 2016 severance plan was approved and is for a maximum for 52 weeks. For everyone else, get your facts straight and quit spreading bullshit.
I believe it will go down to 26 from 52. Also no relocation assistance within the 2 years window of your relocation. You are are on your own. 4,000 plus whack in one swoop is a desperate. I suspect they won't miss the 4000 in day to day operations. And yes I do agree the Guvment Family plan mentality is about to blow up.....and God bless them in the real world.
I realize many in the friends and family CVX group believe they have union or government jobs virtually for life. They are about to see how worthless their business skill sets are. They haven't bothered to read the severance package rules, and don't understand the real world. Chevron will cut back on these packages. They can change the rules whenever they want.
Just checked the ESP Site and it states the Severance has been approved and a maximum of 52 weeks of pay will be given depending on time in company (2 weeks per year)
It was always 26. 2 weeks of pay for every year of service up to a max of 26 YEARS. So you get the max of 52 weeks of pay at 26 years of service, after that no additional. so a 26 year guy/girl gets the same severance as a 35-40 year person. Lowering it to 13 years of service ( I suppose that's what you mean by 26 weeks) would lower everyone's max. but level the playing field a lot for younger "lay-off-ees", and save CVX a bit of money. Unless it means 1 week per year of service, which would cost the company even less........
And beware...they never actually give you the severance policy. They give you a summary, carefully worded no doubt with a subtle tilt (vagueness) in favor of CVX. You can get the actual policy but you have to jump through a few HR hoops. Funny how they don't post it anywhere isn't it? The policy is in effect for specific timeframes (6 months or less) and there are different policies for different circumstances. My guess is they are tweeking the policy right now and will continue to do so indefinitely.
My advice, pay attention to all the fine details and ask questions for different scenarios and benefits. For example, they don't give you an CVX address to use to file for unemployment. They don't give you any info on your pension. You have to figure it out for yourself. Get answers in writing. You never know what you might encounter including an unintentional lack of knowledge by HRBP and management because stuff keeps changing.
Good luck.
Same but capped at 52 weeks
Yes I heard this today. 2 weeks per year of service to a max of 26 weeks + 4 weeks. So a two year person would get 8 weeks. What was it before?
all they have to do is give notice of the change according to the current plan and it is done. Go read your severance policy.
It would be in effect until next year anyway. And of mass layoffs continue into 2017 you can be certain all sorts of things will change to preserve cash.
You could see that one coming
This is actually part of a bigger picture. The CIP was already debited on the books. Nothing going forward has. This only has to do with cash flow at this point. Chevron has no liquidity and will have to borrow to pay. So any cash outlay has or will be on the table. They are truly looking at everything. I too do not expect any change in historical severence packages. But to the bigger picture......this shows us who may be left that the next year will likely see another layoff. If you are scrambling for liquidity today, what will we do in November? That is if oil stays below 40. And that is to be expected I believe.
Lucky to get that, some of us are getting nothing
Yes this is being discussed. No way they do it. Savings are to small. But it is on the table.