The 1900 cuts announced today added to the 1600 cuts recently completed (NSI group) is a total of 3500. This is a 19% reduction in the U.S. workforce (excluding site level Operations employees). They completed almost half of the cuts without paying a severance.
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@hhz+17F4E3jB: Nothing is guaranteed. Chevron and others have the integrity to declare a layoff and pay a severance. ExxonMobil chose to cut 1600 employees (NSI) without a fair severance. Others operate in good faith and we choose to stick the shiv in our employees. We are ExxonMobil!!
You’re not a shareholder, you’re a bagholder.
When DW (why does he always look constipated in pics?) and the LT cut the dividend, despite all their weaseling words, I’m the bottom will fall out.
Goto/USProgram has the severance table
Agree with elp+17F4E3jB. People who took PIL got 3 months salary, benefits, and outplacement services. Where is severance guaranteed? Tell us OP!
2 wks / yr is better for those over 6 years. Simple Math. But where has anyone promised 2 weeks per year severance. I haven’t seen that in writing. Has anyone else??
@qxg+17F4E3jB: Yes, maybe the stock will break $40 in 5 years. Load up on it!
If you are retirement eligible and don’t take the voluntary program then you forego 4 months pay, correct? What if you then are made redundant - is the risk 4 months pay. A redundancy does not relinquish the rights to the retirement does it?
For pips that took the PIL, They walked away with 3 months salary. That is better than the 2 weeks/yr that is given with the current severance.
Thats awesome. Love it as a shareholder