What kind of severance are you getting? I got 13 weeks of pay
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I was with Slb for almost 3 yrs, I got a bit more than 7 weeks plus cobra. I found the career assistance program helpful to tweak my resume and LinkedIn profile to make sure I was seen, but isn’t much benefit beyond that for a mid career.
Canada here. Non exempt employee and health benefits cut off same day at midnight
You guys are so wrong it's hilarious. It isnt a secret formula jfc..... it's in the handbook
I hadn't been with SLB a long time but I felt they were extremely fair with my benefits package. 3 months of COBRA pay and about a month's worth of salary give or take...
Also they paid for some company to help with my resume building which was nice.
Sad overall situation, but this industry is so cyclical. Hopefully things will get better for all soon.
If you work in the US, the severance program is very clearly described in the back of the Employee Handbook. Your severance depends on what position you hold (Exempt or NonExempt) and years of SLB service. I've heard from people who got packages that they are also throwing in 3 months worth of COBRA medical payments.
So, office staff are better looked after rather than the grunts on the shopfloor. We are all in this together.
All I received was the foot long package, told me to be grateful that I at least received one.
Ouch!!!
If you have 13+ years, you get 13 weeks for hourly people (non-exempt). The 26 weeks are for the salary (exempted) people.
OLP says the restructuring costs $1.2-1.4B in one-time charges. But saves SLB $1.5B annually.
Math says that that cost = 86% of the annual spending. Meaning they shell out 86% of people's annual salary, on average. Though I'm sure that's heavily weighted towards all the nice perks and severance of senior management who got the boot.
US for salary mid career
In the UK?
No it isn't. You can get 26 weeks and if you are over 15+ years you can easily get 1 year.
13 weeks is the max no matter how many years of service
13 weeks for how many years of service.
I think it is 4 wks + 1wk/yr. You need to sign some nda documents to get that