This and maybe even last year it was more about PIPs than anything else. I personally prefer layoffs, because receiving severance is definitely better than being kicked out without anything. Now that I think about it, I can't believe that I'm here cheering for the return of layoffs. This place has messed us up.
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@2tbf. I know a guy who got a long term disability at age 54. He's getting LTD six figure per year until age 65, then normal retirement based on are 65 retirement. Develop an acceptable LTD.
The decrease will continue...
https://finance.yahoo.com/news/oil-gas-industry-sees-non-121431687.html
The last real payout layoff was when Exxon bought Mobil. Mobil employees got 1 month pay per year of service with a maximum of 24 months of pay.
Mobil Executives got 36 months of pay regardless of years of service.
Exxon employees did not qualify for these packages, as this was just an effort to reduce Mobil influence on the combined company.
These packages seemed to have been part of the “merger” deal negotiated by Mobil Executives that knew they would leave.
After that big layoff, Lee Raymond said “Never again will we pay people to leave when all we have to do is show them the door”.
@2fny+1w77WzBQ
How did you this I am stuck for 3 years NRE 53 as well? Let us know the specifics I would leave too. Was it medical or disability? Let us know so we can escape too.
I can't complain.. NRE and negotiated 3 additional years of Service to retire early. I am now 53 and enjoying life without ExxonMobil, but with retiree medical and a handsome lump sum payment. I had to sig a NDA though.
Last real layoff 2020 for exxon. The severance was only 4 months pay to leave.the last real payout was in the 80s or 90s. Those lucky ones got weeks of pay for years of service. The ceo either Rex or Lee said why should we pay good workers to leave when we can force them too leave.
So no more big payouts or layoffs for exxon. They just continue piping. Keep dreaming retirees for a big payoff. I know many who left waiting for the payoff. The discount rate was a bigger driver for retirements and employees leaving. It is 4 % right now back in 2020 it was 0.75 %.
This is a layoff board, after all.
But for many companies, including thisun, the layoff approach is too expensive. The force-out technique (PiPs, etc.) seems less efficient, more tedious, but is more selective and far cheaper.
It's a commodity business.
We're all loss-leaders in their book.
This sh!t being posted again?