Please tell us why you are volunteering for the package. I suspect it is more than just the money.
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There is a big difference between US and some european Countries in regards to dismissal package or in this case voluntary leave package.
Speaking for Belgium: In general when you get fired in "normal circumstances" for a reason which doesn t implicit faulplay from the employee, you are entitled to get paid a certain amount during a certain period.
The amount in a normal dismissal is mostly your salary as You usually would get every month
The period depends on the number of years of service.
For example: 19 years of service would give you 23,4 months of pay...
20 years of service would give you 26,4 months of pay...
The same logic applied for the voluntary leave for which you could signup, but some extra components got add to the salary.
Basically the more years of service you have the more months you get paid out when fired. Now you understand why it is an attractive package for the employees with a certain number of years of service.
These package was negotiated thanks to the Unions. So big thumbs up to them. This is part of Socialism and employee protection too ;-)
Still waiting for details...
I’m so damn tired of the Lee Raymond quote! Exxon does apparently pay people to leave this company. Just not in the US. Additionally, three months severance is certainly NOT the standard (only at Exxon). Shell, Chevron, ConocoPhillips etc. are all offering MUCH more. Get your facts straight corporate clown !
In U.S. labor law, at-will employment is an employer's ability to dismiss an employee for any reason (that is, without having to establish " just cause " for termination ), and without warning, as long as the reason is not illegal (e.g. firing because of the employee's race, religion or sexuality).
The Houston, Texas Campus is an "At-Will" state and does not require any incentives above and beyond the standard severance package that XOM offers any employee that is terminated. 3-months severance is pretty standard regardless of years of service.
***More details of "at-will" are summarized on the Wikipedia link below.^^^
As Lee Raymond once stated as CEO, "Exxon does not pay employees to leave this company"
https://en.wikipedia.org/wiki/At-will_employment#:~:text=In%20U.S.%20labor%20law%2C%20at-will%20employment%20is%20an,because%20of%20the%20employee%27s%20race%2C%20religion%20or%20sexuality%29.
@4rui labor laws are quite different in the EU vs the US. I suspect this bridge to retirement ( or whatever it was really called) was the lowest cost, lowest liability path to induce folks to leave.
I too would love to know the details of the package they received. Damn interested in why that bridge to retirement is not offered to domestic employees.
What are the details of the offered package?
There was a “bridge to retirement” offered to European employees? Well bu-----t ! Why is this option not offered to US employees who would love to leave this sinking ship ?
Any update from European colleague (Belgium), on how many people did take the voluntary option and bridge-to-retirement package ? The last date to apply for it was last Friday...
Most likely the company will grant all 195 the "Voluntary Leave" option.
Telling 45 that they cannot take the "Voluntary Leave" can set the company up for a future lawsuit.
Today was the last day to subscribe for the Voluntary leave (Belgium). They were looking to get rid of 150 employees. In the end 195 Signed up to leave. "Houston you have a Problem now". This Tells a lot about the atmosphere and the drop in confidence in the company. People are realy fed up
@sro+1aInmk8v, 3-4 years GREF (now E&PS) was largely (not entirely... yet) outsourced to a FM company called CBRE. EM employees were transferred to the contractor.
@ykx+1aInmk8v gref was sold?
Clearly someone has taken to posting nonsense to try to dilute any real discussions. Hope they feel good about themselves.
Trained for greed!
What’s the package?
Reasonable package , no future, being told to get a meaningless job otherwise or get a lower package later, rumors to being sold to a 3rx party like gref was