The official thread
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I typically buy 12-15 pair of LuLuLemon pants per month. If my husband loses his job, I'm afraid I might have to cut down to something more reasonable. Has anyone had to deal with this before?
My position was eliminated in Nov from Devon & given a wonderful severance package, but insurance was terminated that day. I would call HR & see what will happen with the layoffs to come.
The health insurance expired midnight (the day I got laid off). Took money out of the health savings account and paid for COBRA (was about $1200.00 a month for family), until I found a job by the Grace and Mercy of Jesus Christ.
Folks, this is not the end of the world...we will all recover from all of this. Keep your focus on your family, polish your resume', update your linkedin account, network with folks and pray for wisdom and guidance from GOD.
May He bless us all and draw us closer to Him, thro' all of this!
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When I was laid off I was going to depend on Cobra. Look into this;
http://www.dol.gov/ebsa/faqs/faq-consumer-cobra.html
I was lucky enough to find another job with only 1 month gap of unemployment. If it is involuntary they can not just cut you and leave you high and dry (insurance wise). It is tough and I empathize with all of you. Hang in there and take it one day at a time. God has a plan for you and it is more than likely out of the O&G industry. I make half the money I did before the crash but the piece of mind and security makes up for it. You are not defined by a job title or income bracket.
If you stay at home, start looking for a job. You're going to need it to survive this downturn.
There will be departments totally gone. Folks Devon is in survival mode. This is going to get ugly. We're talking a 50% cut. It will be BIG!!. Any job not related to operations or saving money will be gone. No improvement, no projects, no purchases, not anything. Making do with the bare bones. They expect this to last 3-5 years. They're working to keep the lights on and not much more until the recovery.
That's a nice severance package if indeed it is as stated. It's sad some of us had to get such packages but some other companies severance is not even close to that of Devon's. I worked for another O&G company and their package was pale in comparison. Best wishes to all.
@ulh is correct. God bless.
Unless there is a special severance policy just for this layoff - which may be the case - your insurance will end at midnight the day you are laid off. As of the September 2015 severance revision there was no change that included you keeping your insurance.
According to the policy your insurance lasts as long as your severance does. So 2 weeks for every year of service, 1 week for every $10K in your salary and another 1 week for every year over 40 you are with a max at 52 weeks. If you're fired it ends that day at midnight. Hope that helps with some of your concern.
I think I worry more about health insurance I heard if you get laid off the ins ends that day
Obamacare has increased the cost of ins so much
I can cut back and live on less
I feel for all of you. I've been caught in a layoff before. What I found is that life does go on and you can survive this. With severance and/or unemployment, you can make it, but you have to cut your budget to "needs" only- food, home, water, electricity, ...don't eat out, defer student loans for a while, talk to your creditor and explain the situation. When things got better, I had learned that I could live without "wants" like cable and didn't add it back once I had a new job and salary. You will be alright. It will just be uncomfortable for a while. Best wishes!
I know I'm not the only spouse/significant other of a Devon employee that's been freaking out all day (and maybe checking this site every few minutes). If anyone needs to chat, I'm here. I know we all want to think our spouses are too good to be let go, but we need to stay positive no matter what. It's okay to panic and freak out for a few minutes, but don't let it control you, and don't let it last too long. We get through it by staying calm, and eventually moving on.