The unhappiness here us at all time highs as MW unleashes his grand vision of Cost Cutting to Win. I personally think the number of EOIs will be extremely high and this re-org will finish the company off after the last crippled it. Who here is going for an EOI?
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It might make more sense to stay at CVX and say you intend to move to HOU rather than go for EOI. If you stick around, you build your 401k, pension, and benefits for a few more months—possibly longer—until they let you go or push you to relocate. Financially, that could end up being a smarter move than accepting the EOI - which is almost half what you think after taxes. My plan and I've got 15 years with the company, PSG 24.
You don't offer EOIs unless you need to lose a significant number of people. Then, EOIs just protect the company from age discrimination and wrongful termination lawsuits. If it's the right time in your life or career, take the money and run!
There were a lot more people close to retirement in 2020, not so now.
You be the judge of morale inside Chevron. What I can tell you is that in 2020, when morale seemed much better than today, people saw the MW handwriting on the wall and were tripping over each other to EOI. Anybody threatened by ENGINE will be gone, rather than getting laid off with no package once ENGINE gets up to speed.
Please all of you stay, leave the EOI to the rest of us who are IN ALL THE WAY!
I will be raising my hand when/if EOI is offered. 19 years of service, mid 40’s, started at PSG 14, promoted to 22 last Oct.
I’m a San Ramon employee. I won’t be moving to Houston.
Most white/Black US raised/born people who are within 1 to 3 years of retirement would EOI,vast majority of Asian would rather work till last [it is cultural for to work until the very end]. Look around and you would find less than 5% in your department fit the criteria and that is what you will see once the mess is over.
EOI in corporate departments like HR, IT and Finance will be higher than in O&G specific groups.
I was initially thinking high side for EOIs as well. But change is hard and when the time comes most people have to provide for themselves and family.
A lot of people are all talk. No one outside of oil and gas is going to pay for your bloated salaries. When they realize this, the people that are complaining or saying they will volunteer for the EOI will back away from doing so.
That’s what we think every time but people are sheeple and will continue to chewgrass till they are culled.