With all the upcoming 3q and 4q layoffs, does anyone know what the US payroll package will be this time? Two weeks per year of service? I heard they might sweeten it.
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@6Pajk, Why do you post a comment to a subject that’ is 1 year old? Water under the bridge and a complete waste of time and credibility.
It's confirm, looks like Chevron at their San Ramon, California facility will be announcing layoffs at end of Q4 2019 sometime around Dec. Executives said they are anticipating a recession in the US Economy. I think today Goldman Sachs said the same thing in the Economic forecast for Q4 this year and is warning all their clients. Apparently they are trying to keep this a Secret and quite, but it got out as ussual. Kinda obvious when all the local executives are trying to sell their Homes ASAP in anticipation to move out of the city first. Like they say in Chevron, sh*t rolls down hill. Profit Rolls Up hill first.... good old boys club will be taking care of themselves first before we are tossed out on to the pavement. :( I spoke to my HR friend in Chevron, looks like they are still posting jobs and hiring and have not received the formal notice yet from the Top executives. But news is coming down soon....
@ekbm, any severance package you might get will be exactly the same as it has always been. And the WARN notice rules have nothing to do with the price of oil, it has everything to do with the total number of people in the layoff pool. The larger the pool, the longer the WARN notice must be. Small groups of layoffs may remain on the payroll as little as 30 days, while longer periods of 45, 60 or more days for larger groups being given their walking papers. Either way, the actual severance package remains the same. Quit stirring the pot with innuendo.
The packages will be about 20% better. If you read the handbook, the package size is related to the price of oil on the date of the WARN notice.
I heard that the next severance packages offered will not be as generous as last time, from a reliable source. Don't get your hopes up. Better to working on saving your job.
I heard same. Lessons learned from earlier layoffs led to better package and revised severance letters.
“OP, why would Chevron @sweeten” their long-standing severance plan? No reason for them to do this, as much as you may wish it. It has always been 2 weeks severance pay for each year of qualified service. There is a minimum severance (I think it’s 8 weeks) and a maximum of 52 weeks. On top of that, involuntarily laid off workers get 6 months of Chevron-subsidized COBRA medical premiums and a maximum of 6 months of uncontested State unemployment benefits.