Anyone have any insight on what the package consists of in relation to years of service?
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what does a band 6 make?
1 week pay for every year served. Up to a max of 13 weeks.....(Ponca)
What denotes the bands?
@2dsb may be it is legal. Is it moral?
It depends on the country. People laid off in the UK get just one week per year of service capped at 20 and they have to sign compromise agreements that prevent them from working for any company that SLB deems (rightly or wrongly, reasonably or not) to be a competitor. In other words they'll stop you geting another job. Apparently, that's legal.
I was at band 6, received 2 weeks of salary per year of service up to 26 weeks plus an additional week of salary for each year of service, also got the pip later on.
Long, Blue and Hard
the more time you stay close to your manager the more you get. It really simple .
okay great, being a golden paratrooper I should fair well if served severance on Jan 2nd. thanks
Depends on your level, category, business unit, and nation. I guess it goes from a pat on your back to 3 years + estimated bonuses for people whose piss is blue.
blue collar and hourly in the US, 1 week of salary per year of service up to 13 weeks.
basic exempt white collar, 2 weeks of salary per year of service up to 26 weeks and estimated pip if you get laid off in the last quarter.
middle management, 3 years + 3 years of estimated pip at 30 or 40% of the salary. (Band 5 and 4)
In the upper bands they all have golden parachutes in the millions... so doesn't really matter.