Why a person who just received high performance rewards was let go last week? Because of approaching retire age?
19 replies (most recent on top)
It has nothing to do with age, the issue is how much you are getting paid
@bowa+14FohgoU It already happened.
This time around they also appeared to target long-term employees in their upper 40s so they could get them off the books before they reached the pivotal age of 50, where the company pension and retiree medical liabilities increase dramatically.
I was told (unofficially) that those people closest to the magic “85” (age + yrs of service) are targeted. The oldest employees in my group were let go first but we were also the most recent hires.
I was laid off and my severance letter had a table in it with all of the ages that were let go at the same time. All of the 20-somethings kept their jobs and almost everyone 35 and over was let go.
Dead on bubba , over 50 and you have a bullseye on your back. Anyone that thinks different is a fool. If they want you they will get you plain and simple. But..take a pound of flesh alone the way. I am 60, in another field, and tearing as our the door.
Govt
Slb
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Yes they do! But they know how to play the game well and have well paid lawyers that help them play the game well! Schlumberger is only one corporation that does this. Many of them do it. If you are over 50 have an exit strategy!
@3rqv+14FohgoU hit the nail on the head!
It's a financial liability game, if you have enough years in to accrue a highish salary/grade then that is one strike against you, if you are on the pension plan, that is a major financial liability strike against you. I would be amazed if there are very many pension eligible people left after this. Age just happens to correlate with these two liabilities mentioned before.
Ask yourself this one question - do you know anyone who has retired of their own will and reached the end of their career in recent years?
In general, employees are afraid to get old and also technical employees are afraid to get promoted beyond a certain level. How many people are brave enough to go for a band just now?
Y'all need to Google "At will employer" and explore the nuances of an at-will relationship. The employer may release employees at any time, for any reason, except an illegal one. So unless there is a "reason given" that is illegal, it is extremely difficult to prove the reasoning behind the termination. FYI legally, Schlumberger must provide data on age-related releases, so if you are above 40 and released from the company as part of this reduction you should have received a table with the job titles and ages of those released so you can compare the number over and under 40.
They dont do anything based on age except offer early retirement plans. I heard some people are being offered 1 year salary and benefits if they retire now, but you have to be a certain age to get that offer.
Some are being RIF'd for ratings, others are RIF'd based on the group they are in, and then others are RIF'd based on comparing workers based on quality of their work (manager observations, not based on performance reviews). Sometimes they are let go as they the person that brings too much drama into work. Sometimes it is the older person and sometimes it is younger.
Things will be bad until people start driving more to create demand for gas.
SLB, you don't want to listen to employees' voices. just leave. don't put trash on it.
Age discrimination is official illegal. However, it is not illegal to lay off low performers. Anyone over 50 will have accumulated enough unfavorable reviews to justify firing whenever management wants to.
Does a bear sh*t in the woods?
@'The Strong 💪 Arm’ ... an attorney will give you time pro bono? OH you sweet, innocent summer child.
a better question would be who doesn't? Ageism is very real.
You can't really tell, some factors have heavy weight some less.