Thread regarding Marathon Petroleum layoffs

If I survive today, I'm safe?

From what I gathered, no more notifications going out after today?

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| 3072 views | | 5 replies (last October 2, 2020) | Reply
Post ID: @OP+17dNP1IE

5 replies (most recent on top)

Having gone through layoffs before in the industry - this round of cuts were not the 'to the bone' kind of cuts needed to make real change. This just trimmed some fat. IMHO, if nothing material changes in light of Covid in the next 6 months, we'll be looking at another (deeper) round of cuts (If i were to guess, targeting 20%).

Best thing to do now is prepare with a sizable emergency fund of easily accessible money (Don't tie it up in stocks for now). Shoot for 3-6 months of expenses in your savings. With that and (hopefully) a severance package, I would think the average employee could float for nearly a year while looking for other opportunities.

The severance packages I saw were on par with what I've seen before, with a few of the options potentially being appreciably better than what I've seen for some folks. Having been through this before and being cut, I can confidently say - you are more creative than you think, you can save more than you think, you can stretch money farther than you think - and you will be OK regardless. Chin up.

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Post ID: @1fow+17dNP1IE

Safe for now, 6 months from now, who knows... I don't know how much longer they can continue down this path and not cause additional layoffs or shutdowns. Those of us that are left should still be prepared for anything.

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Post ID: @1vwj+17dNP1IE

Always remember you ARE NEVER safe around that place

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Post ID: @glh+17dNP1IE

Your leader should tell you when everyone was notified in their org. At least ours did.

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Post ID: @jhn+17dNP1IE

Other than to people who were unavailable, of course.

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Post ID: @jae+17dNP1IE

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