Thread regarding BP PLC layoffs

@122 Are you getting severance pay over 12 months or are you getting a lump sum amount? Lump sum amount doesn't count as severance pay.

Also, does the separation agreement include clause which limits your claims against bp? If so, Texas law doesn't count the payment as then severance pay as you had to give away your rights.

I would suggest talking to TWC and explaining that claims have been limited. If TWC doesn't agree, I would suggest talking to an employment lawyer.

@10e I was declared redundant with 7/5/25 being my last day. I went through the hoops of unemployment since the bp paperwork indicated I was eligible even tho getting 12 months severance. Was initially approved. I did inform Twc of the severance package and after review they said I WAS eligible for unemployment- only not now. My eligibility date started 7/2026… so after the 12 months severance “expired.” Since Twc has access to pay records I had no intention of lying about the additional money I received. I spent a month jumping through hoops, keeping correct records of job anpplications and on phone calls trying to figure things out - lots of wasted time.

@yk for Texas Unemployment apply through the Texas Workforce commission website. It is pretty simple application process. If you get approved, the max payment is $591/wk. Good luck buddy!

For COBRA benefits, you will get a letter from the benefits center in the mail that has additional information. My last date was 8/18 and my benefits coverage ran through the end of the month. I could call the benefits center to apply for COBRA benefits on 9/2 (because they were closed for the holiday on 9/1). You have 60 days to elect COBRA, but it is retroactive coverage from the day you lost your regular coverage. So for me, I called on 9/2 and the benefits were made retroactive to 9/1.

For anything related to pension and savings (401k) plans/ retirement $$, call Fidelity. If you have retiree medical questions, that is a medical coverage so you would have to call the benefits center. For the job placement stuff from LHH, I got an email 4 days after my last date and have gotten many since. I also got a call from Fidelity Stock Plan Services with resources/help related to the transition.

I am currently trying to figure out Texas Unemployment and the severance payment. If anyone has any experience with that, I would love to hear it.

You can sign up for USPS informed delivery to cut down on some of the checking the mailbox anxiety

@n5

You will indeed get COBRA benefits via the mail. It covers you retroactively for a period of time, just keep on the look out for it.

For your pension and 401k - you will need to set up a call with a fidelity advisor if you don’t already have one. It will take some time to get the pension paid on (like 45 days). Then you can move it to a IRA or another fund.

Was laid off 4th years ago. Things were rough at first, but we adjusted. Few HEB grocery shopping and more Aldi and JV Smart. Eventually found a job with another company. Never been happier. Use your money wisely as suggested. There is life after the turmoil. This will shall past; use the mental health support you will need it and there is nothing wrong with being helped.

Your pension is managed through Fidelity and not P&C. Everything is outsourced now even your retiree medical benefits so you need to figure a lot of that on your own. I learned this from former retiree's. Go into your Fidelity NetBenefits and you can initiate your lump sump a month after you leave the company.

Has anyone who got laid off this round been provided with any information about the Cobra enrollment process, activating job placement services, pension lumpsum / annuity options, etc.? I asked before the last date and stupid PC&C said you will get that information in mail after the last day and once out. People would need outplacment services now and not later. Or are they purposefully doing this in hopes of saving more money as a result of people forgetting about these benefits and either forget to activate, default to annuity - losing option to select pension lumpsum etc.?

If you have allocated money to a flexible spending account, incur the costs before your separation date. I lost money by assuming I had until the end of the benefit year. (I was transitioned to retirement healthcare benefits)

I got laid off in June after 14 years of service. To be honest and perhaps ironic - I felt a huge sense of relief. The advice above is sound. Here’s mine

1. Use the severance to pay some bills off which will help cash flow.
2. Make sure you fund your tax shelters as much as your can to reduce you tax liability
3. Start looking for a job - there’re good jobs to be had - it’s super slow right now. And network your a$$ off. You’re completing with the other operators in Houston
4. The bp outplacement services can help look/update at your resume, but don’t expect a miracle.
5. My mindset - Bp is a case study for poorly managed company’s and will be studied for years. You can’t control that - don’t let resentment eat you up. I try my best to be grateful for all the opportunities and money I made at Bp. I barely have a real education - I tricked them all :)

You are a star and will land in a better place.

Don't worry. AI will soon be taking over their jobs as well.
My advice to you is, whatever money you have saved or coming from severance, use it wisely (only on things you absolutely need), even if it means buying the iceberg lettuce instead of the Romaine lettuce. The job hiring isn't so great and will decline. So contact everyone you know and even those you may not (via linkedin). If it means you have to relocate, then ask help from the hiring company for relocation. Even if it means a pay cut, then take it cause healthcare will cost a lot without a job. Take the first job you get so the income continues to come in and continue looking for a better job. Try not to be too picky where you decline offers because the longer you are out of job, the harder it will be to find a job. Good Luck! Don't get depressed if those interview phone calls don't come too often after the third week. Keep your chin up, update your skills (from online training videos or books), think of other ways to use your skills, and keep in touch with everyone you know. Keep passing them your resume, even if it's in front of the grocery store (if it gets that bad).

Go forth bravely, I wish you much success in your future. BP will soon realise the incumbent failure of the tsi experiment; which so many leaders proclaim is the best (and cheapest) thing ever but has resulted in qualified, skilled personnel as yourself being let go. I hope they will emerge from their cowardice and take responsibilty in the future...

Wow! So very accurate post and definitely LinkedIn worthy. I wonder if those who did get laid of today can chime in to see how many poor souls were eaten up by the hunger, greed, and mismanagement of our god like executives.