Now SLB is reducing pay and comp that way they will pay less in severance. So now when they lay you off it costs them less.
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Severance is based on your base weekly or biweekly rate. A straight up cut of your base salary (or hourly rate) could affect your severance, but furloughs won't.
They cut the guys hourly pay on Monday for the week starting 4/12
Not neccessarily true. I got the axe friday and the severance was above the so called industry standard of 1 week per year of service. Closer to 2. They also paid 3 months of cobra and are offering job search help/coaching/resume help.
Upper management taking voluntary 20% paycut of their $MM salaries and they want us to take 25% paycut of our less than $100K wages. What's wrong with that picture? And now no paycuts, they are just terminating everyone. And heaven forbid you are over 45 and not ethnic. You're the first to go!
PayPaal is still getting his 1 million
Nothing new, this is typical for Dumberger.
Where are you located ?