It will be interesting to see how the work for the people leaving is redistributed! I hope ultimately we end up with more workers and less “managers”!
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Age discrimination? That makes zero sense. Which of the following is discrimination: 1) paying people for months of no work, discounted medical care, accelerated vesting or 2) keep your job
Isn’t this teetering on to age discrimination? If you want to lay off everyone 58 or older you need to bridge then to retirement. Period
Well we should definitely join the cool club then. Let’s offer our people even MOAR stuffs!
OXY had a very lucrative VSP. Five year or more with the company, you got all insurance, one year’s pay. If ten or more years up to 2 years pay. 30 plus years three years pay. PXD a and DNR both cheap VSP when compared.
Who cares about pioneer junk?
Rumor is that if they don’t get enough people at 58 they will lower it for a second round to 55 or older...any truth to that ?
only trouble with this is the fiscally responsible good workers that can and will land new jobs are gone and the connected and poor performers stay!
Sounds like there are going to be quite a few taking the deal.
But if you’re financially ready, this could be a nice quick chunk of money to use as your long term spending money in retirement.
pioneers was MUCH better. But they’re in better financial shape so it makes sense.
I’m eligible and received my packet. 1 month’s pay and $2k insurance stipend per year of service, maxed at 12 months. Full 2019 bonus, 2020 LTI payments, and any unused vacation paid out. I wasn’t planning on retiring, but I am going to accept and opt in.
And bonus, LTIs, and insurance. I heard.
Rumor is one month per year of service. Min of 6 months, max of 12.
I have heard for each year of service they give you 1 DNR share plus a lunch with the CEO.
What are they offering in the package? I hope the people that can afford not to work, take it, so that those who would be financially strapped have a chance.
If not enough people take it. Anyone have details yet of the offer?