What impact will the upcoming layoff announced have on the CIP? Does anyone think differently about their CIP guesses?
12 replies (most recent on top)
ZERO bearing on CIP. He had to announce it because of the news to the market that we were earmarking $900M for severance and we were going to be asking "for what".
CIP will be above last year closer to 1 if not slightly over. The "savings" from layoffs is worth at least making people happy enough to continue working. Or if it's high enough, people are more likely to stay long enough to grab their bonus and run. Think about it, nice bonus, THEN EOI... people will be salivating to leave. Which is exactly what they want.
CIP is a bonus based on individual and company performance. Stop whining like you do not get paid enough for the measly work that you are doing.
When there was no CIP, base salaries were higher on average. CIP isn’t a bonus out of the kindness of the company’s heart, it’s an at risk portion of remuneration tied mostly to company performance
As for entitlement, you think the company doesn’t go around the world conducting itself in a way that’s best for its fiscal interests? You think they are thinking about how much generosity and goodwill they can extend towards employees and the countries they operate? You don’t think they are constantly trying to minimise tax and other social commitments? You’re deluded. It’s capitalism, baby! Greed is good - at least according to our corporate overlords and shareholders
Expected CIP 0.9 to 0.99
There are those around who remember when there was no CIP. So whatever you get above ZERO is a plus. I still can’t believe all you out there and thinking only about your entitlement. No wonder this company has so many problems! Unbelievable!
Low CIP = more people that will quit on their own, less people to lay off and less severance to pay out.
It’s not like this will have any real impact on the CIP. We were already bracing for a lower number before the big "reveal." The announcement, however, did provide some comedy, courtesy of a few clueless managers. You know, the ones who’ve spent so long being oblivious to who’s even on their team, let alone what those people actually do. Now they’re suddenly putting on this painfully awkward show of approachability and empathy—straight out of some cringeworthy handbook on "how to handle staff concerns." Bravo.
No impact to CIP. The good news is there will be people who will use the EOI especially those who are in San Ramon and don’t want to move. I know 2-3 people personally that will retire early. Plus Chevron announced a $1.5B charge in Q4 of which $900M is for severance and relocations costs.
He and EB have been setting up a low CIP the last two messages. 'Not meeting goals' 'close to achieving targets' 'yellow and not green'. Bring back the BU multiplier!
I would say if you’re laid off, your CIP will not be very good. Just a guess though.
The announcement was not a corporate goal for 2024 so meeting it does not impact CIP scoring.