Do you think what we are getting as severance is enough? What do you think would be enough for you to leave this place "with no hard feelings," to put it like that?
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A question often bandied about was “with almost 1 1/2 years severance for old-time employees, how old would you have to be to volunteer for the package if offered “. The calculations for the payout of the lump sum slows tremendously after age 60, so I said I would be willing to take a 1 1/2 years salary severance at age 58 if I could retire. The company made that decision for me earlier this year And I couldn’t be happier. I was always a saver and squirrel some money away so that I could retire if the opportunity arose. Talk to a financial advisor before making this decision. BP was my career and I was treated well. I am scared about the pivot and direction of the company going forward. But that could just be me
True that the severance is based on length of service. At the time when I left, I was fortunate enough to get almost 1.5 years. With unused vacations, it did bump it up to 1.5 years. It was a generous enough package that would discourage you from challenging BP. I never took much advantage of the job-training and career services that was part of the package. Nevertheless, things worked out nicely for me. But I can see how this would be a difficult transition for others, particularly those who are many years away from retiring. I hope that the severance will enable you to transform to the next job. Things can get much better.
Think it depends on personal circumstance. Weigh everything out. How much would be enough to tip the scales enough to make you take the chance and leave. Only you can figure that out. Good luck.
Not sure what you mean? severance is all based on length of service..
Is there even an amount that would be enough for something like that?