In order to qualify for 25% CIP, a large number of employees would retire in early April each year.
Has that NOT happened in 2020 because folks are awaiting a severance bonus?
stay safe & healthy out there CVX
7 replies (most recent on top)
CIP% is almost certainly going to be $0 next year, Oxy and many other are cutting pay significantly. CIP is pay at risk and up to the board's discretion. There is also a very good chance that the Chevron U.S. Pension benefit will be permanently frozen this year following US Industry trends.
@5xqk, No need to share the sites you frequent since you can't get any and never have. Unlike you, the rest of us have the real thing.
April is usually a month to see lots of old folks retiring, but not this year for several reasons.
- 401k shot to hell. Needs time to recover.
- Waiting for a huge severance check.
- Uncertain outlook in this COVID economy.
Can someone share the link to the layoffs forum? thanks.
Interest rates are going down every month and there is a package available...
Probably more like people are looking at their 401k.
CIP % next year may not be a big factor, and possible if larger layoffs, none at all...