For your situation, Near Retirment or not, what would you consider a fair package?
For me, not near retirement, I'd say 3 weeks pay per year of service + pension cash out option.
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Severance package likely to give 2 to 3 years towards retirement to get rid of the untouchables that are within 3 years of retirement. Weeks per year likely to be 1, just to avoid the bad publicity of zero weeks per year.
This is just based on logic.
Give me 2 years of age and low discount rate so I can afford to start drawing early. Probably won’t be able to find a job in the current economy so make it possible for me to retire early.
Severance pplan is closer to Zero-Zero-Zero. Save money...Pay the dividend
@haz+16UhDU1i, that's Chevron. Not EM.
Chevron is giving 2-3 weeks per year of service, up to a full year pay.
There won't be any packages in the US. The days of 2-3 weeks for every year are over.
Likely to go for the near-retirement people first, in which case the years to bridge will be the major knob, as that money comes out of the pension fund, not opex. The more bridging years they offer (1? 2? 3?) The more people will go. Typically this is matched by enough weeks of pay to get them there. The rest will get what comes out of this exercise. My bet is on 2-2-2 capped at 2 years - for those not near-retirement eligible that would be 2 weeks per year of service. No pension cash out - they will need it to pay the NREs.
Seriously.. where is DW when he is needed the most. Only saw in in The BPR video.. what a leader..
Two week notice/salary total and cash out option for any remaining vacation is all that is needed for anyone not retirement eligible.