I’m already expressing my interest, no need to wait!
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Other rumors about severance suggest that the maximum could be increased to 2 years instead of 1. Given the focus on cost-cutting, that’s hard to picture.
I hear EOI will be open for two weeks in March, and those accepted will be gone by the end of the month.
I believe the EOI's will be offered as the positions at various levels are posted and the people see the lack of positions available to apply for. If they offer EOI's in March there will be too many people leaving before they can backfill the job positions that are abandoned. They want the experienced US workers to create documentation and workflow documents to cross train their replacements. I attended a department meeting recently and the number two item on the list for goals in 2025 was for the staff to support the transition to the "ENGINE". They will not offer parachutes for anyone to jump out of the moving plane while the remaining leadership team is trying to fly the airplane. :)
Post ID: @g1+1jhygdp2r
If that is the severance payout, that is a generous offer.
I was laid off several years ago by a less reputable company and I did not get an offer like this.
I understand people with years of service but have not met the full pension requirements will be disappointed but this is a business decision and we are being replaced by lower cost employees. This is the direction of corporate America, profits over employee loyalty. That phrase "Human Energy" is not about the employees in the US. We are too expensive....
Heck, they won't even give us a desk anymore. :)
Once it’s offered I only need as much time to open the email and hit accept! I want to set a record for quickest response time!
Once they announce it how many weeks does one have to decide if one will take it?
Max of 26 weeks will ki-l a lot of interest I bet.
if the cap on max severance changes, a lot more will volunteer for EOI. May be a way of pushing out the old to bring in the new
My boss was telling me this past week that he plans on taking the EOI because according to his HR business partner, 2025 will be the last time Chevron offers maximum 1 year payout. I know we have heard this before but that will become a thing of the past. This is a cut and paste from his email for severance proposal 2026+:
Proposed 2026+ Chevron Severance Package with the specific legal release clause included:
2026+ Severance Pay:
Tenure-Based Formula: 2 weeks of pay per year of service.
Pay Range: Minimum of 4 weeks of pay, with a maximum of 26 weeks of pay.
Unpaid Wages: Payment for any unpaid wages, accrued vacation days, and unused paid time off.
Healthcare Benefits:
Continued Coverage: Offer continued health insurance coverage for the lesser of 3 months or until the employee finds new employment.
COBRA Assistance: Provide assistance with COBRA premiums for a specified period, e.g., 3 months.
Outplacement Support:
Career Counseling: Offer career counseling services to help employees transition to new jobs.
Job Placement Support: Partner with outplacement firms to provide job placement assistance and resume-writing workshops.
Other Benefits:
Financial Planning Assistance: Offer workshops on financial planning and unemployment benefits.
Mental Health Support: Provide access to an employee assistance program (EAP) for mental health support.
Legal Compliance:
Ensure compliance with federal and state laws related to severance, WARN (Worker Adjustment and Retraining Notification) Act requirements, and any union agreements if applicable.
Legal Release Agreement:
Release of Claims: For employees to be eligible for this severance package, they must sign a legal release form.
Scope: The release form will waive any claims or liabilities against Chevron, both known and unknown, arising from their employment or termination.
Consultation Period: Provide employees with a required period to review the release agreement and seek legal consultation if needed, up to 21 days.
Revocation Period: Include a revocation period, up to 7 days, during which employees can revoke the agreement after signing
Mid Feb
oh yeah... bc Noble, PDC and REG are soooooo great
Just making room for all the Hess folks. Time for new blood
If early March is indeed correct, sweet relief will soon befall us.
It’s all going down early March . Two EOIs. The second after Hess finalization .
Second half of the year.