Does anyone know what Chevron severance package for layoffs is? I have heard it is way more generous than what XOM is offering for involuntary layoffs.
10 replies (most recent on top)
Who cares? You aren't getting it
In CVX, if you were domestically relocated 18months at new location & then selected for downsizing, CVX will give you the option to be relocated back to regional office.
Huge difference from EM who sends you to a small town , no jobs, can’t sell your home.
4 months voluntary. Do u still ask if xom is skimping on voluntary package.
3 weeks pay per year of service is generous. 2 weeks was always considered fair in past downturns.
It’s forthright of CVX that they have a straightforward 3 weeks per year.
XOM has this complex algorithm with a sliding scale designed to stiff people. What can you expect from a company that has lost its integrity.
https://www.thelayoff.com/t/17eNMuQ6
“We had heard no packages at Exxon. 15% cut across the company here and complete simultaneous re-org of the entire company from top to bottom to be complete by October 26th. Support functions and out of favor BU layoffs are in the 30% range. Package is 3 weeks per year ( max 52) plus one year of company subsidized health care, plus a 6 week redeployment period after lay-off where you are still being paid by CVX, but you have been removed from the network. Significant outsourcing and shift to managed service providers. Significant contractor reductions and renegotiations with vendors. No reductions to 401k match, pension, and no indication yearly bonus will be eliminated. Most office dwellers working from home, but strong indication that ends in 2021. Overwhelming focus on company wide digital transformation and move to automated / digital / AI / data driven factory model to remain competitive in extended in low price environment.”
Who cares?
You can investigate this on https://www.thelayoff.com/chevron.
A few weeks back had more about severance, etc.
More recent is more bitter, kind of like XOM
I think OP is trying to understand how XOM stacks up against CVX. I am curious too.
For all the talk of caring, if XOM is skimping on severance, we need to call them out.
So what?