Thread regarding Saudi Aramco layoffs

thank you @3qjy+1bJMis2c and Jim.

I got laid off last year in June, and with 11 service years I got 95k as layoff benefit on top of RIP. It was a good deal and I am thankful to the company.

LAYOFF BENEFIT PLAN
Employees who are laid off due to lack of work.
WHO IS ELIGIBLE
The LB Plan covers salaried Employees on the U. S. Dollar payroll of Saudi Aramco and the following Participating Companies:
! Aramco Services Company
! Aramco Associated Company
! Aramco Overseas Company B.V.
! Aramco Capital Company, LLC
! Saudi Petroleum International, Inc.
! Saudi Refining, Inc.
Hourly or daily paid employees, leased employees, independent contractors, consultants and supplemental contract workers are excluded. Otherwise eligible Employees may voluntarily waive participation.
COST AND FUNDING
The Company pays the entire cost of the LB Plan and all benefits are paid directly from corporate assets.
WHEN BENEFITS ARE PAYABLE
To qualify for benefits under the LB Plan, Employees must be laid off due to lack of work as indicated by their termination documents. LB Plan benefits are paid in a lump sum as soon as practicable following the date of termination. No benefits are payable to an Employee who is working outside the United States if the termination is at or after the normal retirement date as defined under the Retirement Income Plan. In order to receive benefits under this LB Plan, Employees must agree to and execute a release agreement.
AMOUNT OF BENEFITS
The amount of the LB Plan benefits shall be a lump sum payment in an amount equal to two weeks base salary for each full year of continuous service at date of termination, plus a pro- rated amount for the days worked during each partial year of service.
Minimum Benefit
If the Employee is permanently assigned outside the United States, the minimum benefit is thirteen (13) weeks base salary, reduced by any Severance received.
If the Employee is permanently assigned to a United States work location, the minimum benefit is four (4) weeks base salary.
Maximum Benefit
The maximum benefit is fifty-two (52) weeks base salary.
REEMPLOYMENT
If an Employee is reemployed by the Company or a Participating Company within the period prescribed by the Company for reinstatement of service, the Employee must agree to repay any LB Plan benefits received to the extent that these benefits exceed the amount of the been paid to the Employee had the Employee remained continuously employed.
AMENDMENT AND TERMINATION OF PLAN
The Company reserves the right to amend or terminate this LB Plan at any time; provided, however, that no such amendment or termination shall affect the rights of an Employee who has terminated employment while covered by this LB Plan to any unpaid LB Plan benefits.
ADMINISTRATION
The Company is the LB Plan administrator and has the exclusive right to interpret the provisions of the LB Plan and to review and approve or deny any claims for benefits. The Company's decisions are conclusive, binding and final.

People were discussing this topic last year during the layoffs. And some HR folks also mentioned there is something extra in case of layoff. Your RIP, once vested, is yours irrespective of resignation or layoff, noone can touch it. The layoff benefit part is something I am not too sure about. I am no expert, my turn hasn’t come yet 😂

My understanding is your RIP becomes your End of Service after 5 years. But in case you get laid off, there is something extra aside from the RIP. They call it a layoff benefit. Some board members may not know more about the details. I heard it's not advertised.

Last I knew it was either the RIP or the 1 month BP for every year of service. And of course if you had RIP, you took that rather than standard default severance.

There's a severance calculator online but I suppose you can estimate your severance at any time. But I suppose it's subject to change like the HR Manual.
Good luck on that.