Does anybody know what a potential 12 month severance package would look like?
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SS took care of the employees in my opinion. Very generous! Too bad the contractors/former employees that help the company do not qualify unless he works a deal for them also.
Severance package will be little to none. XOM negotiated severance packages with PXD before agreeing to acquire. The acquiring company gets the cash and accounts receivables of the acquired company which lowers the cost of the acquisition but also gets the debt and accounts payables. XOM is not stupid, they owe nothing to PXD employees who will be let go as part of synergies. SS cares about one employee, SS. he negotiated a good deal, for himself. If PXD offers any package to quit, take it, if not you will be let go by XOM (sorry, your job was eliminated) or PIP’d in August.
Awww you think the packages will be as good as years ago??? Ask the Concho people!
It's important to note that the layoff packages from a couple years ago were very favorable since Pioneer was in charge. The situation changes not since Exxon would be in charge. Yes, there could be negotiations but this is a new situation and I would not expect the same type of packages. (this doesn't mean it won't happen)
SS cares about the people more than your average CEO. That doesn’t mean you’ll get rich from your package but it’ll be a he-l of lot more than they could legally get away with. My package from PXD was about 1 yrs total comp inc. bonus and full LTIP vest. Hard to complain about that…
Rich sent out 5,000 well done points to all employees splurge
I think SS is negotiating a deal that will not take care of the employees at all. Don't be surprised to see jelly of the month club subscriptions and well done points. Depending on how much as- you kissed. Don't be surprised to see poke bowls on top of that. We the people are SS priority
I think SS is negotiating a deal that will take care of the employees a 100%. Don't be surprised to see 300 to 500k packages. Depending on Years of service. Don't be surprised to see 50k bonuses on top of that. We the people are SS priority