So much could happen by the time you received the total sum...why would anyone take a package that isn't a lump sum or close to a lump sum? What am I missing?
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@ryy+14We2FM4 wow, thanks for the well rounded thoughts on this. The 2 months of insurance bothered me quite a bit. They couldn't let us have it until the end of the year or until new employment at least...
There are a couple of reasons to take the package IMO. 1) You continue to get paid just like you would if you stayed as long as Oxy stays afloat and your paycheck goes back to pre 30% reduction level. 2) You could get laid off in a month with much less favorable terms albeit you could collect unemployment. 3) Management could be getting ready to reassign staff from the office to the field, and if you don’t like that then you have to quit and get nothing (Engineers to pumpers) . 4) You can stop stressing about the future of the company and start looking for a new job and you are naming the number of months you feel comfortable finding a new job in. 5) if your spouse works then you could switch to their insurance
This last part is going to get me downvoted into oblivion and accused of being a VH sympathizer but who cares. Everyone is p-ss-d that they are being asked to name their price but this much better than another round of layoffs. Management probably doesn’t care too much how many months your asking for to an extent because they are going to write it down as a one time loss on the next earnings report and get to reduce operating expenses on the balance sheet.
What your missing is OXY doesn't want to offer a lump sum...you know, time value of money and all.
You didn't answer the question...you went off on a tangent...so, can someone else answer?