What kind of severance can we expect from this?
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The Noble annual bonus could easily be 1/3 of salary for a technical professional. Stock options and grants were even higher. Chevron's CIP isn't comparable.
FYI, when I was part of the Andeavor (Tesoro)/Marathon acquisition, the severance was based on Andeavor's policy, not Marathon's. Marathon's was better, though. So likely any severance will be based on Noble unless Chevron decides to pay based on theirs. That said, the policies are the same with the exception of the "transformation" severance change. Also, yes, Chevron has bonuses.
Chevron doesn't have bonuses like Noble does. Same with stock options and grants. Those perks are reserved for the elite.
Prorated bonuses part of chevron package?
Just as an FYI, chevron gives you 2 weeks severance for every year at the company. However, they are now going through what they call “transformation” and are temporarily giving those they lay off 3 weeks for every year they were employed with the company.
I assume by "they" you mean management. And yes, "they" will indeed burn, only it won't be in hell. It'll be on a tropical beach some where and Noble employees and stock holders will be paying the bill.
We all probably get screwed and get the terrible Noble deal: 2 weeks for every year of service and a prorated bonus.
But.... they will probably find another way to line their pockets and give us less.
The need to all burn in hell!