I know a lot of people wanted to go the Chevron way, but go read their board. They are going through the likes of vsp and layoffs. It looks like you have to apply for 4 jobs and if not picked then you get the EOI. I think the EOI is like e the Oxy VSP. Looks like they are feeling the pain as well even with a billion dollars extra.
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@2vbb Psg 25 done make $400k. That’s psg 26 and up my friend. But yes they need to clean up upper lays so mid career people can advance and make room for young career people to advance to mid career spots and so on. We have to many hurdles with all of the people who should retire but will not because they hate their wife
CVX is top heavy in pay grades PSG 25-27. These are mostly supervisory, middle manager and long time subject matter expert jobs paying $400k plus when you include bonus and other incentives. CVX has needed to move people in theses jobs out for quite awhile in order to give employees (45 and younger) upward mobility. The voluntary severance is what this group has been waiting for.
I am a chevron person.
We are having a company wide reduction of 10-15% some groups will be hit harder then others. They have not released all of the group numbers
You can EOI which I am assuming if like your VSP. You get 3 weeks for every year minimum of 12 weeks max of 52 weeks. You can take that EOI today or you can take it at the end of the year around October.
The rest of the people if they don’t reach all of there numbers “which they probable will not “ apply for up to 4 jobs and see where you land at. Some people will still have there current job available and will end up in the same spot. But some will not and they will try and take someone else’s job by picking the easiest Targets to dethrone.
Probably just lightening the load in order to bring some new acquisitions aboard!
Yeah their 401Ks probably really suffering with $CVX plummeting from $110 down to $92 compared to how well $OXY has held up. I hope they’re all okay.