Why to quit on your own when you can wait and get a severance package if not hired by CVX?
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The retention plan, as issued, will not keep anyone at Hess. This plan was merely throwing a lil extra cash to select people.
At the very minimum, the retention letters will have to be revised with the adjusted timelines and vesting schedule. I doubt that actual numbers will get revised as HR mentioned multiple times that the turnover rate in 2024 remains at about 3% or the same as any other year. There has been no massive exodus from Hess that management was concerned about as the hiring market remains very limited, and most of Hess people aren't going to walk away from a separation package unless the next employment opportunity is much better. Since generally offers better overall compensation as compared to other E&P companies, most people won't get the same combo of salary/bonus/conventional pension elsewhere.