Other layoffs.

I just read an article about layoffs with Occidental.

I think it is interesting how they are handling it. “Interested employees can submit a resignation offer to Occidental through May 26, specifying the number of months of base salary that they will accept for voluntary separation, according to the document. Employees can amend or withdraw offers unless the company has already accepted them by then, the document said.”

I wonder if Chevron did something similar if they would get more interest. Of course, this also seems to open the lawsuit flood gates if one guys gets 4 months while his neighbor gets 1 year. It will be interesting to see what ends up happening.

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In the past, only variable pay was cut...Base pay was sacred...This is worse than 1986, and compensation across the industry is too high. Too many people earning over $200 k...and accruing pension liability at these high pay scales. This time 20% cut in headcount and 10 to 15% cut in base pay across the board. Jobs will have lower classification. Pay raises slowed for 3 to 5 years below inflation after one time cut in base pay. The cut in base pay will crate incentive to retire for anyone over 55...

Setting your own price does not seem consistent with the well organized business practices of Chevron or other upper tier oil companies.

Also, Chevron is not in a panic situation.

Funny how you found the OXY deal interesting. OXY and LAPC employees are not impressed with it at all. Management is making a last grab to try to get rid of people without paying them as they did with those who took VSP before. Your info left out parts where whoever takes it leaves a great portion of their unvested stock on the table, only 2 months of medical coverage and categorizing that it is "voluntary" so unemployment benefits cannot be claimed. OXY's whole situation is dire and cannot be compared with the struggles of others in this industry. Best of luck to you Chevron folks.

Dream on! Why enhance it when it is easier to just lay you off? Think!!!

Agree since tax implications are significant.

Chevron should consider enhancing the severance

Thread regarding Chevron Corp. layoffs

Other layoffs.

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