Yes, cause we are more valuable in the long run
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yes
Chevron freezes pay raised, taked away LTIP and reduces the target bonus.
@az They will do the same to the Hess folks that they did to the Nobel and PDCe folks. Hess folks will keep their pre-acquisition pay and bonus structure for the 1st year (2026) and then be assigned a PSG level where the Chevron bonus will kick in for 2027. So they've got a good year before they see a change in pay structure.
.... the kicker. All Hess employee have a bonus target = 30% of their gross salary.
I wonder how many will resign when they see what small CIP CVX people get
Hess CIP in 2022 was 1.25, 2023 was 1.65 and 2024 was 1.84.
Well yea. Good for them, but chevron CIP should be comparable.
Both can be true
Good for them! They needed some good news!! And frankly, the Hess room was never chock full of whiners, such as we see here. Makes me think Chevron’s 2025 departures just didn’t quite get the job done.
It was a part of the deal for the acquisition. Also there are few Hess people left. I am sure they will not get any raises for the next few years.