Thread regarding Shell Oil layoffs

Rumor: Vonluntary Severance Packages to be announced in May

Heard that each Country Chair will be sending out a note sometime in May announcing that voluntary severance packages will be offered in the near term. Not sure how much those packages will be, but for those that were looking to retire soon anyway, this will be a nice golden parachute (provided your 401K is not tanked).

If the severance packages do not achieve the desired results, I assume there will be inevitable layoffs. Also, no details whether or not people are going to be "mapped" i.e. they cannot take a severance package.

by Anonymous
| 2921 views | | 5 replies (last May 11, 2020) | Reply
Post ID: @OP+14HDeucy
Comment! It's anonymous!

5 replies (most recent on top)

I guess it's now been confirmed by Gretchen that it is 3 weeks for every year (min 12 weeks, max 76 weeks)

by Anonymous
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Post ID: @dstz+14HDeucy

I heard that the countries in scope are: US, UK, NL and CA (no surprises there). In my department we now have an absolute hiring freeze in the UK, but we can hire people in the low-cost centers (Manila, Krakow, etc.). We can't even back-fill positions in the UK if someone quits or takes another job within Shell.

by Anonymous
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Post ID: @9csj+14HDeucy

Verbal announcements began in UPD, no official transmittal was distributed

by Anonymous
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Post ID: @9brp+14HDeucy

No minimum age for the lump sum payout...that is based solely on your years of service. But as far as getting full medical coverage in retirement, I believe you have to have 30 years of service...but I don't know what the minimum age is. Also, not sure what minimum age is to start collecting pension.

by Anonymous
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Post ID: @3pne+14HDeucy

What is the minimum age required to take this severance package? 57?

by DaTruthSeekah
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Post ID: @2faq+14HDeucy

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