I don’t understand why they haven’t allowed expressions of interest. If they had done that the people that wanted to leave and the people that wanted to stay could stay. Win/Win situation. And they would exceeded their head count reduction target. Seems pretty simple to me.
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Due to the toxic culture created by current and previous ELT, aka “P McMenace” they couldn’t afford taking the risk of a mass exodus by offering LOI options. Too many would leave and they couldn’t control the knowledge drain… they would literally be talent bankrupt if they had. Instead, the experienced and skilled only hung on for two reasons: 1. Hope of getting a package, 2. February’s VCIP.
Anadarko / oxy did it a little different.
You could request EOI and there was a council that evaluated it and see if you met the criterial. If you met it, you got severance. If they say you were ineligible, it was considered your resignation.
Still loads of people applied, but made it interesting
While I agree part of the lack of EOI is attrition is already exceeding the historical average, I assume another reason is perceived control. I have no direct evidence, but given the nature of our management, I think that if EOIs were offered, they would feel as if they were losing partial control. Meaning, THEY say who leaves, not the employees submitting an EOI. Now this is silly considering people are leaving on their own, but again with autocratic management, it would further hurt their pride. Leaving outright means this place is intolerable, submitting an EOI means it’s ok but I’d be willing to leave if you paid me which is more insulting to management. It’s not their money, but they act like it is lol!
Attrition is absolutely sky high right now, to the tune of 20%. You don't dangle a juicy severance over a workforce that's desperate to jump ship.