What are the package details offered in Australia?
Only offered to retirement eligible?
Any years of service credit offered to make people retirement eligible?
Deadlines?
38 replies (most recent on top)
What about IOL Canada? Does anyone have info on the last EMIT downsize?
6tkm - what are you smoking mate? We don’t pay 60% in tax in aus.
Due your due diligence before throwing out I’ll-informed platitudes that suit your agenda
@2ozd+16K3UOSI That’s great if you want to shell out about 60% (overall) of your income in taxes like the Aussies do. That won’t work in our heterogeneous society though because people will scream about “disparate treatment”.
We need AussieCare here in the USA!
It is terrible this is allowed to happen in the US. What is more terrible is a corporation that would use this tactic.
I have a colleague that, due to his medical conditions, is facing $2,600 cobra payments. We need to tell our politicians - from every party - that we need something similar to what the Aussies have. Australians will be chilling for a while with no worries about healthcare. For us, constant anxiety.
Also - Aus pension being changed effectIve 1 Jan 2021 - impact is a reduction of up to 40% depending on age etc. Big incentive to get out now
It’s actually 10 weeks plus 2 weeks per year of service up to a cap of 52 weeks plus 4 weeks notice. So 56 weeks.
I know some good people in Australia. I’m glad they at least have some protection.
@1ehz+16K3UOSI If that’s the case they really sh– on the first group
Read carefully what they send you. PIP/PIL is done but next wave is coming in the US. And this time it is a lay-off!
Regarding the UK, 1 month per year of service capped at 2 years would mean only 2 months at most forb @1gpqw+16K3UOSI please explain. Suppose 10 year service; how much would be given?
There are so many U.S. based employees who's lives are getting turned upside down because of the abrupt, cold-hearted way it's been handled here. Employees are humans, not robots. The U.S. government has no sympathy. I know U.S. Employees with 30 years service, 51-52 years old, only getting 3 months of pay, no continued medical coverage (not to mention, they lost their lump sum option). The same employee in Australia would get more than a year of severance pay and will have no worries about medical coverage. This is extremely different treatment from the same company. True that it is not illegal how it's being handled in the U.S. But that doesn't mean that it has to be handled this way.
I’m glad your governments protect their workers. At least they are not able to do to you what they have done to US and Singapore workers. Sad to see an American company screwing their own people.
The 10 weeks plus 2 per capped is likely a standard. There's a standard offering set in each country that have been used for sometime. UK one for example is 1 month per year of service capped at 2 years. However last big package like that was 2007 and UK law changed then to make it 2 years from 1. Last thing we had three years ago it was capped at a year, the early retirement deal was 3% reduction year on year from 60 to 50. Which is pretty generous. I'd expect if this happens again, and we only did this 3 years ago for above operations staff, it'd be the same deal.
I assume this is designed to get the offshore wage people to jump. It is a slightly older workforce because it is a mature asset. Getting the costs down improves the profitability of the asset and increases the sale price. Plus BHP pays half of the severance costs for people associated with Bass Strait. XOM should recover the severance costs in the sale of the asset.
https://www.google.com./amp/s/mobile.reuters.com/article/amp/idUSKBN25T0AI
Severance of 10 weeks plus 2 weeks per year of service. Cap of 52 weeks
are these lump sum or paid out like a paycheck?
That's a good deal!
Let’s clear up the misinformation here.
You’re colleague in Australia must be a bit of a numpty as they have not accurately relayed the situation. Or you have misheard.
You can put in an EOI and then you get the full breakdown of your package. You ARE NOT COMMITTED AT THIS STAGE. If you want to proceed you then docusign an official application from here and commit.
The package is 10 weeks base with an additional 2 weeks per year of service up to a limit of 52 weeks.
Well if you get that kind of package that is awesome as us here in the US didn’t get that... got told PIP (don’t bother as you more than likely won’t pass), PIL (great 3 months of pay until my retirement starts if you are eligible, but sign all my rights away) or Retire... was always in the middle for 30 years, until I made somebody mad... BAM... then comes oh no what are we going to do... now looking at as a blessing... retirement it is and now have multiple offers for my skill set.... not the same place nor mentality... has become a place for bullies to rise to the top....good luck to all in all the countries as you are not alone... the top forgot the golden rule of business “never rob Peter to pay Paul”
The feller said:
"I heard. 10 weeks plus 2 weeks for every year of service."
That's solutely ludicrust. What propaganda you shoving?
That's bankruptancy for the company.
Oh - wait...
Yes - the conditions are revealed only after you're sunk in.
That's my understanding too.
So - perhaps you have 20 years - maybe the 10 weeks, plus 2 weeks for each the next 10 years.
Or - maybe the 8 weeks plus 1 week for the next 10.
Or - possibly, the true s—er punch - 3 months like your PIP mates got in USA.
If you're not Ned Kelly - I'd not take it.
I don’t think 10+ 2 years per service is that great. So you do 10 years and you get 30 weeks? In the current market it is likely it will take that long to get a new job.
That is a lot of cash. They probably will not have to worry about healthcare either. The Australian government provides a safety net on health care. Here we have to deal with the reality of an expensive cobra coverage.
https://www.health.gov.au/about-us/the-australian-health-system#:~:text=Australia's%20health%20system%20is%20one,Private%20health%20insurance
That must be nice.
is it eligible to people on pip?
wow that's such a generous deal!!!!
I heard. 10 weeks plus 2 weeks for every year of service.
what does the employee connect site says about the terms? can the non Australians look it up and share?
I’m not in favor of keeping the package secret, but in fairness this strategy will ensure that only people who truly want to GTFO will apply. It will prevent people looking for a quick payday from applying.
They do know. It's on their employee connect site.
Very strange not to know details of major career choice package until after signing to accept the major career choice package.
The package is either so good they want to keep it a secret or so bad they want to keep it hidden.
Must assume that people need to be retirement eligible to take this mysterious package.
Seems shady to not be told the terms, but not surprising for XOM.
hmm that's strange. typical VSS or MSS will tell the package offer before signing anything
Oh according to the person we spoke to, and the deadline to volunteer is by 24 Sep. If accepted they leave by 30 Sep.
We asked an Australian colleague. It seems like everyone can volunteer to be made redundant - it wasn't individual offers made but more of a communication that they can volunteer if they want to.
They weren't told the terms. Said they'd only be told the terms if they volunteer to be made redundant and are accepted. A bit like how PIP works - you'd only be told your PIP items after you choose to take it. Unsurprisingly this colleague didn't want to volunteer. Also the unemployment rate is crazy high in Australia now.