Was it enough to avoid a lay-off? Anyone know?
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We don’t get to pick and choose. We have to accept everyone who requests it that fit the “category” of those offered. That’s why there’s no “target” discussed. We were surprised. Leave it at that.
Reduce “managers” and execs.
And the answer to your question is; 100 people, or 12% of the workforce.
Why offer it? Because at SOME POINT, a RIF might become necessary. Any who take a VSP now will result in FEWER people being affected by any subsequent RIF (when/if that occurs). Probably more of a when than an if, to be sure.
But, yes, I take upper management at their word when they say that there isn't some magical number they're looking for right now (percent taking the VSP) before they decide if they need a RIF in the very near future.
Based off of some of the names I’ve heard. There’s ALOT of technical knowledge and talent leaving from the field very soon . Best of luck to those left and be safe
Do you really believe that? If that were the case, why even offer it....?????
They made it quite clear that they were not looking for any particular percentage.
Anyone find out what percent they were hoping for?
On the technical side, I believe that a very high percentage of those 58 and older accepted the VSP. As far as the field, accounting, IT, etc, I have not heard a thing.
I strongly suspect that oil prices in 2020 will have far more to do with whether there's a RIF or not than how many people accepted the VSP.