Just curious how it works if we receive notification that we are left standing after the last round in October. Do we get paid through the 60 day review period then receive severance?
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The severance may be up to a year of salary, but salary might be only half of your yearly total compensation.
My end of year plan is to stay employed with Chevron. I have 15 years of my career sunken into this company and I plan to get in a minimum of 10 more years to retire financially well. Thinking about retiring now, even with the severance, is not on my mind. For me, the grass won’t be greener on the other side. I’m staying put.
2vws: plus it will help that everyone will be waiting until the last day, flooding the pipe all at once;-)
2tur: like I said, very tight. It does help that all the budget folks get grid locked near the year end....unless there if a strong push to expedite the process (yes I am a bit paranoid by nature;-).
2min: For those that are in round three it’s purely a date game. Someone previously posted the following which is spot on.
Round 3 (PSG25-27) - Notification starting from Sept 7
1) 6 weeks redeployment until 19 Oct
2) 60 days to sign release until 18 Dec
3) 7 days revocation period until 25 Dec
4) Severance payment next 1-2 payroll cycle, Yes you make it to 2021
2imf: it will be very tight for R3 left standing to delay payment to next year (motive week of Sept 7). R4 should have no worries on that score.
You get paid through the 6 week redeployment. Then you get the severance agreement with 60 days to return (unpaid). Once you turn it in, then a 7 day revocation period. Severance comes in the first pay period after the revocation period.
Severance payout is dependent on how quickly you sign the agreement (release). Think about tax implications of taking it in 2020 on top of your regular earnings. This is all on the website and you should verify it.
OP. It’s on the website under expression of interest, and then clicking on a few links to get to the US or global payroll. All the info is there. The site is better now compared to several weeks ago. Good luck.
I did and it wasn't clear hence my question. Thanks though
Please go to the Chevron website for these answers instead of relying on this site. It’s ALL there spelled out for you.