With all the lay offs and facilities closing, when will they off the next VERP, early retirement package? If 2nd quarter 2026, that would be 3 years since the last package. 4 years would be 2027, hope not that long.
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@r63 No.
Will there be a VERP in 2026?
@2ce I believe you are incorrect. With layoffs you get 1 week of pay for every year you have been there. Your insurance stops within 30 days and you will be offered a cobra package.
With the VERP you are paid 1 year of your current salary and your insurance is paid 1/2 by company and 1/2 by employee until you reach age 65.
NOV actually has a good layoff program For employees that have been at NOV a long time, will get same payout as VERP or being layed off.
Why offer payouts when they can just lay you off?