I genuinely do not understand why bp would need 6 months from consultation to notification of laid off employees.
6 months?! In that period all the best employees will find jobs elsewhere because they are uncertain about their jobs! Yes I know bp wants voluntary exits but surely they are aware no sane employee will just keep focusing on their work and not look elsewhere these 6 months?
All of the profits go to share buy backs.
BP is fecked. Just look at the share price. Do they burn all profits ? Do they drill for oil on the moon ? Board just bunch of homos just trying to mate.
I've worked at bp as an employee and contractor on and off for the last 25+ years.
bp has been doing these prolonged consultation periods for at least the last 15+ years.
As an employee it was great:
I left.
When I came back as a contractor it was almost better! Each time this happened, so many of the competent people had already left by the end of each consultation, I was the only person left to pick up the pieces and fill in the gaps.
In the one instance where I did leave, I was persuaded back within 18 months to tidy up the things that had since fallen apart.
No idea why the company senior leadership do it this way though :s
It’s because they have found it takes ~6 months to get someone on board in India. They can’t risk you leaving until you’ve done a MOC which is why it’s such a long period.
Of course it’s going to be great for morale…
That's a great question about the length of time for them to execute. When I went through it, I was told that a consultation firm was engaged and the purpose of this was to ensure that the departed could easily challenge the decision (e.g. age discrimination). Then they have consultation on severance and the provision of certain benefits that include coverage of tuition to retrain the severed employee. If I had to do my career over again, I would have taken advantage of more on the job development projects. Nevertheless, seriously consider the separation package they offer. I thought mine was very generous (>1 year of pay). Because I was notified early in the year, I hadn't taken any vacation time and the vacation days were worth a lot of money. I took my pension payout as a lump sum and the interest rates were moving downward, and that resulted in a larger lump sum (I frankly don't know how this worked). But, if these circumstances work out for you, please don't look at this event as the worst thing to happen to you. It may actually be the best thing for you as there are many more opportunities out there. Since our society has moved to remote working, you could take advantage of job offers that in the past you would refuse to consider because it would require relocation. God bless you guys.
I have less than year before qualify for some retirement benefits, so I will staying until then. If offered an early retirement option, then I guess I can leave early. Remember late career employees will have difficult finding job with comparable compensación.