I opted for the EOI. Let us hope for the best.
20 replies (most recent on top)
Yes, and for those of us who were clued in by our supervisors, the two in the bush, the higher value severance package, will be offered during the second round. Good luck to everyone with their choices.
@2mxb, No need for the lecture. You sound smug and arrogant. We all know the meaning of that saying.
All severance packages should be the same offer (2 weeks for each year) to avoid legal actions around inequalities. 1 in the hand is better than 2 in the bush probably doesn’t apply here. If you want to leave, volunteer. If you want to earn $ over the summer, stay and volunteer later. If you want to try and stay on, hold out to the end.
Anybody knows how many EOIs were submitted
Thank you Captain Obvious.
The old saying is actually: "One in the hand is worth two in the bush".
Meaning one should take the sure thing, the other thing may not happen. If you have a bird (as in a meal) caught in your hand, you know you can eat today. The two birds in the bush may appear to be the better option but they first have to be caught in order to turn either bird into a meal. Your ability to catch one of those two birds in the bush is uncertain, much less certain is your ability to be able to catch both birds for dinner. So the old saying is one of caution and advises us to take the conservative approach; don't give up a good thing, a sure thing for a potentially better thing which is not guaranteed. The two birds can easily fly away and then you will be left with nothing but an empty stomach. When someone makes you a good offer take it, right then. Better opportunities may lie ahead, but they often never materialize. Its also a lessen about risk tolerance and chance; are you willing to go hungry for the opportunity to maybe have a better meal. The future is uncertain and often things don't work out in our favor. But for some the risk is worth the potential greater reward and they choose to gamble. Neither is really wrong or right, it depends on our point of view and personal choice.
@2usp, it’s one in the hand and two in the bush. That’s how the saying goes. Let me guess, you must a be a youngster or not from this country.
Never take the bird in hand if someone tells you there might be one in the bush. That’s how the saying goes right?
What a way to exit from Chevron after 30 years of hard work - layoffs
I was told also that the second EOI opportunity is much more likely to come with a better severance package. It's not definite, but there is a much better chance. Don't k–l the messenger.
Yes, if you are creating value.
For those who have hit the early EOI button do you think any of these people will be denied?
They are the same, but it is too late to do anything about it now. Ignore the troll, who is the same guy who spends all his time trolling this forum.
What you heard is incorrect.
If you don’t opt for the EOI and they don’t need you, you will get laid off. Yes, you’ll still get a severance = to what it would have been with the EOI. You’ll just leave the company bitter. They try and minimize that by offering the EOI first.
Yes, I was given the same information, that the second EOI would have a better severance, if you can hold out until then. Good luck to all.
There will be no second round of EOI that will be better than the first round. As a matter of fact, if there is a second round, the offer will be no better or worse. You will be offered the standard severance package as always. All you will get if you hold off from submitting your EOI is a chance of keeping your job. You need to determine which of the two routes benefits you most. If you are willing and prepared to retire, then obviously, submit your EOI now and don’t wait. If you can or are willing to put in 2, 3 or more years of work, then hold off on retiring. Your pension benefits will continue to accrue and your good salary will continue to roll in. Your 401k will continue to be matched by 8%. All good things will continue to favor you. If by bad luck, the company ends up canning you, you are not better off or worse than having raised your hand. Just let the dice roll. The only sound reason to EOI, is because you are ready to go and want to collect a severance check as a bonus for leaving.
I don’t believe what “they” say regarding the next EOI being better.
They say the second EOI will likely offer a better package to ensure they get the numbers they need.
thanks for your service
Good Luck