Can you share feedback on how long it took for Chevron after the last day on the payroll to mail the severance forms for the employee to sign and return in order for the severance payment to be processed. Assume it comes as a package along with the pension and 401k details as well ?. I have received my vacation pay but nothing else so far. Appreciate responses from folks who have already gone through this. Thanks.
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@1axc, it may take up to one month for things to get rolling after one is laid off. That's why it's incumbent on everyone to ask questions ahead and during the notification process. I'd advise anyone with low savings to begin setting aside extra money in savings right now. If you are one of the unlucky employees left standing, you will be sent home without access to the company server. But at least you will be on the payroll as an active employee, so cut all expenses to a minimum if that happens.
Pay with your savings. Or, failing that, a credit card.
how long will "left standing" employees continue to be on the payroll and receive insurance benefits after being told in the first week of April ?
it is my understanding that you can't apply for unemployment (or are not elligible), however, if it takes Chevron 2-3 months to process severance payment, how are we supposed to pay our bills ?
Two weeks? Yes, call HR about the timing of your Severance/Waiver papers. It's possible the delay may have something to do with the increased number of employees laid off as of late. Mine took 3-4 days after termination, but I that was back in April 2015. Good luck.
Thanks for your response. It has been more than 2 weeks since my last day on the payroll , yet to receive the severance waiver agreement. Based on your response, I should probably call HR . Did receive my vacation pay a couple of days ago
For peace of mind, keep photocopies and mail all originals back to Chevron by traceable mail (Priority US Mail, UPS or FedEx).
After your last day on the payroll, you will receive a FedEx envelope at your home in about 3-5 days. It will contain your "Waiver" agreement. This is also known as your severance package. You have up to 60 days to review it or seek legal advise if you wish, but supposing you complete the forms, sign it and mail it back right away (after making copies for your records), it will take about 3-5 weeks to get your severance check. Keep in mind, Chevron will hold your waiver papers for the mandated 10-day revocation period (in case you change your mind). After the waiting period, the paperwork will be processed taking about 2-3 days. Once approved, it is sent to payroll where it enters the processing period there. If you miss the first payroll period, you will be paid on the next period. Payroll is paid on the 7th and 22nd of each month. Once the check is cut, it will be placed in the US Mail. Allow 3-4 days you get to your mailbox.
It takes roughly six months to a year. At least that's how long it took them for me. Chevron has one of the most generous severance/layoff packages in the industry and night and day from the average consulting firm (The real world, in case you are a noob). Consider yourself fortunate.