As a 36 year employee, who is retiring in 2025 regardless of a package or not. I'm crossing my fingers that I'm offered an EOI, and it's accepted. It's free money.
Rumors I've heard is payout in April, and we should hopefully be hearing the details soon.
Also rumors I've heard is 3/wks pay per year, max 1 year of payout.
28 replies (most recent on top)
Move on, in 2020 I raised my hand EOI, after 30+ years service. Was retained EOI not accepted. I took great pleasure in handing my resignation to my manager who was a little shocked. Like me if your ready to leave then leave. No garentee of severance.
I certainly hope I am left standing, but that's just me. I want to move on.
@2xtt+1w3URfQ5 Good luck being left standing with that attitude. LOL
@1soy that is exactly what happened to me back in 2020 during Transformation. I was told I could accept the job being offered or leave. Since it was same PSG and functional discipline that was that.
@2lsh, Yes we know, you are on the inside and know all about the alleged "conspiracy" Thank you so much for the tremendous insight on the rom, Einstein, that is truly an earth-shattering revelation.
@1fkn+1w3URfQ5. Thanks appreciate the remarks. Yes I’ve been trying to give timelines and information but yet many are blind to the truth. They want to believe that CVX doesn’t really operate in this manner or believe their job is safe. This will get downvoted ad well but it doesn’t matter, people will only read into it what they want.
So again. For the ill informed. Announcement - EOI - ROM - PDC. All will be completed quickly and in 2025.
That would be a significant change in job role or responsibilities which would be grounds for hostile work environment if they didn’t offer severance
You can be selected for a role you didn’t apply for in a ROM. Only applying to one in the hope that you’re not selected and get a package will only work if they’re willing to give you a package in the first place. If they decide they don’t want to give you a package they’ll offer you whatever job they want and if it’s your same PSG you have to accept it or resign with no package
@1kwl+1w3URfQ If you EOI and they say no, I've seen people then apply to only one position in the ROM, that they are completely unqualified for (higher PSG, different skill set) so then they don't get selected in the ROM and are laid off.
@1igy, thanks for at least expressing it properly.
"offer the chance for employees to express interest"
Essentially the EMPLOYEE is the one making the offer. If you were already on the chopping block, you have no say so. If you make the offer and they want to keep you, which has happened before, you also have no say so other than quitting and that's not under the same layoff conditions. You can quit now under the normal conditions, no severance package. That is not nearly as bad as it sounds if you have a better job or plenty of assets. The alternative could be worse.
The severance numbers are probably set already, but the number of employees they're looking to shed won't be known until Hess is settled. Either way, it's probably going to be a big number.
You have to offer the chance for employees to express interest, but Chevron does not have to accept your proposal. They can legally keep you on if they prefer to have you continue working. If you want to be sure your EOI request is accepted, it is good to start laying the groundwork as early as possible so it is clear if they kept you around they would regret it.
Timing is unknown and will vary worldwide as before. It should mostly be done by end 2026, two years from now. But it depends on Hess.
EOIs are tricky because you have to offer them to everyone, regardless of age. 2020 was the pinnacle as the EOI offer was clearly sweetened to get all those boomers off the payroll. No rich harvest of 55+ers this time around, so don't expect the package to be so alluring. More likely go back to 2wks/yr experience and 6 months COBRA.
Per Mike Wirth - we expect to offer expression of interest in many locations , well provide severances
Where is the misleading information in that statement ? Sounds pretty cut and dry to me
They don't "offer a severance package" at all. That's not how it is done. Plenty of misinformation floating around on this site.
@1bxk+1w3URfQ5 LOL, what a sad conspiracy. I thanked the person, because they seemed to be trying to help. What about what they said do you disagree with?
EOI is very common in the industry particularly for folks older than 50. Oxy in 2020 offer/promoted it corporate wide to anyone. They were only looking for quick cuts for cash due to pandemic commodity drops and stabilized quickly with out any additional layoffs. CVX is looking for structural changes so EOI won't be enough and/or in all the right places so layoffs will be needed.
Yes , @1zoo, I sometimes reply to my own posts also, you, know, trying to pretend like someone else agrees with my obtuse thoughts.
@sty+1w3URfQ5 Thanks for trying to help. Not sure why all the downvotes, that timeline fits with what I was expecting.
@wnv, Uhh, No, just stop, noob. That's not even close. If you had as many years as some of us (hate to even admit) You'd know.
But just Stop, please. There's enough misinfo as well as posers on this site without all that.
@sty, Oh 100%, sure. We believe that. By all means, LMAO!
@hhz, Actually I’ll be one of many making decisions, so just trying to share as much as possible to help others.
“They don't jump up and start "offering" severance packages. That's not even close to how it works. Do you mean will they be laying you off? Possibly but no one knows for sure.”
They actually have done this for the past 30 years that I know of. It’s called an offer to leave or voluntary severance. That way the senior people can leave and save the juniors.
Cost a little more than making you want to quit so they’ve not been doing them lately.
They don't jump up and start "offering" severance packages. That's not even close to how it works. Do you mean will they be laying you off? Possibly but no one knows for sure.
@oda, I take it you are not anyone's "favorite". I can't imagine why not, lol.
EOI will be offered before the ROM starts to make it easier for management to pick and choose their favorites. ROM is most likely March/April, so EOI would technically be Q1.
You will get your package when Chevron is done with you. Lots of us will get transitional assignments to train our replacements in India.