Soon we're going to see how SLB treats these 1st slew of IOLA's that are coming due/past due this month. These IOLA packages we're offered to a bunch a year ago. The program rotates them back into a job with SLB but I haven't heard that's happening, and I haven't heard if SLB is sticking to the contract of 30% Salary/Severance after the contract expires. Has anyone got any information on this?
SLB - We're all watching carefully on this one, please treat people correctly.....
Wait and watch
Will see soon…
haven't heard if SLB is sticking to the contract of 30% Salary/Severance after the contract expires. Has anyone got any information on this?
Not quite sure as there is a contract signed, and it states that iloa does not compromise any benefits.
How SLB can avoid those payments?
IOLA is a way to keep people in suspended misery
IOLA is way to lay people off without laying them off. The idea was to have a reserve of people to be brought back quickly if there was a sharp recovery, or can them later if things didn't improve.
Paid to not work at Schlumberger but not work at a competitor. You can work elsewhere though.
What's IOLA?
talking to this mgr who is mgr of my mgr but not the top mgr of the other mgr last week. That mgr stated heard HR with one particular incident offered the IOLA package, would not allow the Severance (pay and let them go for good). Person wanted to check out and move on but they wouldn't allow, wanted them on the hook for a yr. Not all people can afford to do this package............thought that was odd deal I. If I get some time, will go over to another building and ask that floor of Mgrs sitting around if they know of anything else to add to this