Job market is bad. An increase in severance will help those ride it out longer if need be. It will also make the company look good and may help retain ongoing and future talent.
11 replies (most recent on top)
Same cap tho…52 weeks max
2020 boost in EOI was to make boomers a retirement offer they couldn't refuse - and they didn't. Don't expect any enhancements like that now or anytime soon.
In 2020, severance was increased from 2 weeks to 3 weeks for each year of service. Also, COBRA admin fees covered by the company for a year when typically not covered.
The market is good for anyone who is not a lazy A$$hole. It doesn't matter where.
@c6+1jrf0r6j9 No not lazy a--hole, just the opposite in fact. Where are you located that the market is good?
Chevron owes you nothing, OP. Be glad you get anything at all.
They could lower it to one week per year. Or none. 2 weeks is a gift.
The job market is pretty strong for those who haven't allowed their skills to atrophy.
You've been given 12+ months heads up to network and find a new job. If you're too lazy or your skills are too stale to make use of 12+ months, I struggle to see how another couple months of pay will help.
Speak for yourself, I rather bigger severance and find a better job.
The job market is actually really good! Had no problem stepping out and then back into another company…
Retain future talent?
Those of us staying would prefer no severance at all and use that money for our raises/bonuses.