Has anyone heard if any of these are still on the books for 2021? I keep hearing people saying that we will not be getting a bonus, there will be no pay raises, and the pension will soon be cut from the benefits. Any color that anyone can provide? This was all news to me especially with talks of another round of layoffs.
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I told you bonuses were coming. 10 dislikes on my comment. Got 120% over target. Where are you little whiny b–ches at now huh 🤔
Marathon will not match what Valero paid out and I doubt they’ll match what Chevron paid out. Both of those companies are in much better shape financially than MPC.....MPCs saving grace is the speedway sale as the debt load the company has is outrageous. I would guess 50% of target at the most, and of course adjust that based on your performance rating. But it’s better than nothing. Raises are anyone’s guess but at most 1-2%. I am expecting a goose egg so if there’s any raise at all that will be a nice surprise.
Valero paid 97% of target a couple of weeks ago.
Haha. Not 75% of target for Synergy Savings Bonus people.
I’m hearing there will be a small bonus and merit. I don’t believe they are eliminating the pension yet, but in fairness, that’s probably scrutinized every year. Holly Frontier eliminated their pension years ago and just does a large 401k match. I consider it a miracle that there’s any kind of bonus or raise for any of us.....if you go look at the chevron layoff board they also issued a bonus. It looks like they did 75% of target so if MPC is comparable you can calculate what that will be based on your grade target.
Does this mean possible layoffs in North Dakota then?
Some people in ND have lost the area differential. Btw, it doesn't count towards your severance if you get laid off if you still have it.
There haven’t been any cuts in North Dakota. They haven’t cut the area differential. It’s busy plus overtime here.
Cutting the area differential in North Dakota for some employees. Going to start losing the good workers that got to stay next.
A manager told me the day I was laid off that I had it better than the people that were staying, because I'd be getting a bonus and they likely wouldn't. Of course, it wouldn't be the first lie I was told by a manager there... so really who knows? Just save as much as you can and think about what you might do next if you get sent out the door. They really really need to think harder before putting certain people in charge. Obviously the "buddy" system is not working.
I wouldn’t rule out bonuses just yet. This is obviously performance and area based. MPC’S benefits are legit. If you’re complaining or this whole reconstruction plan is new to you, please quit. Do all of us hardworking people a favor. We worked and earned this job. It supports our families. You can’t blame the company for our current economy and the corruption surrounding it.
The company is burning through cash with no end in sight. There are more inept people in the ranks that it is physically possible to fire in time to turn things around.
I guarantee the new CFO has already done the math around benefits, bloated headcount, and the cost of operating in Findlay. There’s a reason she was picked vs someone inside or from refining industry.. the gravy train ride is over!
MPC Benefits are not better than other oil companies. MPC might be the only company that doesn’t offer every other Friday off for desk jobs (there’s a specific name for this schedule)
Hennigan needs to move the company to somewhere less depressing or he won’t have any employees left worth keeping
Can virtually guarantee all of that is true. MPC is offering far better benefits than any of the competitors. Partly because they have to in order to attract good people (Findlay or Houston, which would most people choose...), and partly because Heminger believed in people, and treating people with respect.
When he retired and the new board was installed, the people portion started to close - once Elliott and Hennigan have pushed all of Hemingers people out the door, they will have a free hand (give it 2-3 years, so 22 or 23)
In fairness to Hennigan, he has to keep Elliott Management happy, and the pandemic definitely made this sea change much rougher than it would have been.
We work for a antiquated company in a declining industry, located in the middle of nowhere. Shouldnt be a surprise that benefits will be cut. If you’re under 30, get out when you can.
So you are saying that this has been confirmed then? All of the things listened above or just certain ones? Can you please elaborate as many of us are wondering and looking for a real source.
You must have been living under a rock if this is news to you.