Hi Everyone,
Recently got the “you’re at risk” speech and weighing my options.
Is it better to take SVS now (3 weeks/yr) or wait till after the MOR postings and get fired (historically 3 weeks/yr but not sure.)
Does this change if you can draw unemployment?
Appreciate all the discussions here and thanks for any feedback in advance!
I see conflicting messages regarding being able to apply for unemployment immediately after SVS or not. Today I sat in on a webcast by a financial services company and they said that immediately the day after leaving on SVS you could apply and qualify for unemployment benefits, so no need to wait the theoretical length of the severance payout. Can anyone confirm this from experience?
You should be able to leave earlier if you chose to do so. Your line manager/hr should be able to clarify.
Does anybody know if someone submits SVS in May if they are eligible to exit before Aug 31st? I'm seeing other jobs where I could start sooner than that.
There is no motivation to do SVS in May unless you are close to retirement or plan to have something else lined up so that you save yourself time and hassle from the OR process. It could also prevent risk of getting mapped later in the process to a role you may not necessarily want to do (ie relocate, etc)
@5kim+154ZxFF1 @6nmt+154ZxFF1
thank you very much for your clarification!
Standard 1 week/year severance (with no minimum and a maximum of 10 weeks) is only for those who will not sign an agreement to not sue Shell for discrimination as a condition of enhanced severance benefits. It is almost always applicable only to forced redundancy and not SVS.
The agreement to not sue Shell is not bullet proof but is a big hurdle to overcome if you chose to go down that path.
Thanks! @5kim+154ZxFF1
"3 weeks per year in US regardless of voluntary or involuntary severance outcome. This was confirmed today. "
If it is true, what is motivation to take SVS voluntarily?
3 weeks per year in US regardless of voluntary or involuntary severance outcome. This was confirmed today.
it looks like that SVS will be 3 weeks/year, but standard layoff package will be 1 week/year. is it true?
I’m on my field assignment in Permian wells. I think OP said they are in unconventionals
Those saying they have been told that they are not competitive: This is not allowed per the SVS program policy, or so i was told.. Can you share what department / where ? ref code ? thanks..
Same with my group. Everyone has been told, you’re not competitive and your position is at risk/ You shouldn’t be impacted but it’s not concrete till June. Gives people more time to prepare and find another job.
What do you mean you got the "You're at risk" speech? Management was specifically instructed not to do any "shoulder tapping" during SVS period. SMH
Yup. Grads are at risk too. That means there might not be a rebuild in these assets.
A lot of recent grads were told they aren’t competitive and at risk because position is going away
They won't let recent graduates go. Right now anybody still in college or grad school is either switching from O&G majors, or having their head examined. The existing grads will be the only ones left to rebuild once all the experienced people are gone. Recent grads, you can rest easy.
I plan to take the SVS and retire!
Can I collect unemployment while collecting pension?
Thanks.
Sorry, I meant 3 weeks for your years of service, of course.
I took an SVS in the recent past. HR told us that in Texas we could qualify for unemployment benefits but only after the end of the calculated severance benefits period (i.e., 3 times your weeks of service up to the max of 78 weeks) after you terminate. As I recall, this was explained on paper so it was likely accurate. I would assume that if it applies for SVS termination, it also applies to involuntary termination.
They’re letting people know from all across the board. Older, mid-career and especially graduates. I’m mid career. Them letting graduates go show of a grim immediate future.
I guess the reason to take it now vs. later is the certainty and that the money is already offered. I’ve been contemplating pivoting from Shell and the industry for a while now. Been building a financial runway and this would be a takeoff point.
Considering no raises, bonuses for the next year, the golden handcuffs are less shiny.
It has been stated in public forums the severance will be the same whether you volunteer or you are selected by the machines for deletion. I’m not sure why anyone who is not contemplating retirement would ever take this package. If you’re planning to continue working, ride it out roll the dice in OR, worst case you get the package anyway.
Personally, I would wait to get fired. Keep your job as long as possible, unless you are really desperate or want to leave. Either way you can still collect unemployment.
Unconventionals PTW
What line of business are you in?