I had a real fear that I would be targeted this year because of my age (61). A coworker expressed to me that since I was only a couple of years away from retirement that I was NRE and therefor somewhat protected. I didn’t question her further because I didn’t want her to know that I had no idea what NRE means. Could someone please explain what the h–l NRE is ? Thanks I’m advance.
28 replies (most recent on top)
Whew - loving that 80-level, baby.
Are you a paid shill, or what?
Securities fraud. LOL. How do you people even come up with this nonsense? Especially since downsizing is one the key contributors to the stock recovery. Every analyst would support this.
SEC I have been robbed! The stock went back up! And technically, from a legal perspective, EM has never referred to this downsizing as a layoff. Sorry, you are not a victim, but you can sell anytime.
As a stockholder, I feel I was deceived to hold my XOM stock when DW announced 1Q20 'no planned layoffs'. Then of course came the July layoff (ie PIPoff).
That's clearly securities fraud, in my book. And the books of others took that bait.
That is a class.
Like that class nobody takes in first year of law school.
Wow. You can cut and paste, but obviously have no understanding of employment statutes.
Why are people across the age spectrum and all other groups affected by layoffs? Because EM makes no sure disparate impact can be shown that might be the grounds for a successful discrimination lawsuit of any kind. That means other than NRE, no group is impacted more or less than any other, whether based on race, age, gender, salary, experience or any other factor. It is proportional to the overall population of employees. Your love of non-discriminatory results actually drives younger people to have to be laid off. Happy with that? EM exempted NRE to be extra safe from lawsuits, which they will describe as compassion for those close to retirement.
Class action, baby? There will be no action, baby. At least nothing that succeeds. Years and years of precedent on such issues provide a clear pathway for any company to follow and stay clear of any employment violations. Just a fact. First year law students know this.
@1jlw. OP here. I’m sorry you’re offended. I’m sure the 20 year service 49 year olds were great folks and I’m sorry for their situation. We’re all victims of the same bunch of failed leaders. I came to EM late career not by choice but by circumstance. My intent was not to stir up a s–t storm or offend anyone. To those kind enough to have provided the information I requested, thank you. Let it go @1jlw.
Sorry OP but how the F can you not know anything about your situation at 61 years old.
People at 49 lost their jobs, with 20 of service, and are getting cr@p, while you are getting a full pension and health benefits.
Nice guy/girl/whatever you are.
@1gzu 's response just below is good description of NRE status. Several confusing posts here.
To demonstrate the company's deep dive on Age-based terminations, I COPY another person's post to another thread from today. (Wow - alot of age-based posts today. Class action, baby!).
This is a bit lengthy - but then it contains some Texan Lawr legalese, so:
(Copied post is below - earlier ExxonMobil Layoff thread)
Interesting additional note on company's awareness of age discrimination potential:
Those that are NSI and offered PiL separation receive a lengthy 'Separation letter with Waiver and Release' to sign and date (not notarize). Below are some details and an interesting twist.
One of the Waivers involves any legal action (towit - from p. 2)):
- KNOWINGLY AND VOLUNTARILY RELEASE AND DISCHARGE THE
COMPANY, from any claims, demands, and/or causes of action (collectively “Claims”)
that I have or might have, and whether known or not known to me, that are based upon
facts occurring on or prior to the date that I sign this AGREEMENT, and whether such
Claims are based upon my employment with, pay or benefits received, or separation from
the Company, including, but not limited to the following:
- Claims under federal law, state law, local law, agency, regulation or executive order
prohibiting employment discrimination, retaliation, harassment or wrongful
discharge, whether based on age, race, s-x, color, national origin, citizenship status,
religion, disability, veteran and/or military status, entitlement to leave, medical
condition, genetic information, marital status, se—l orientation, gender identity,
or any other factor; and 2,
- Claims under the **Age Discrimination in Employment Act; the Older Workers
Benefit Protection Act** ; Civil Rights Acts of 1964 and 1991; retaliation under the
Family and Medical Leave Act and Fair Labor Standards Act; the Americans with
Disabilities Act; the Equal Pay Act of 1963; Section 1981 of the Civil Rights Act
of 1866; the Uniform Services Employment and Reemployment Rights Act; the
Worker Adjustment Retraining and Notification Act; Executive Order 11246; the
Rehabilitation Act of 1973; Section 510 of the Employee Retirement Income
Security Act; the Fair Credit Reporting Act; and Title VIII of the Corporate and
Criminal Fraud Accountability Act of 2002 (Sarbanes-Oxley Act); and any
amendments to each statute listed; and,
- Claims under the Texas Labor Code (specifically including the Texas Payday Act,
the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, and the Texas
Whistleblower Act) and amendments to those laws, and all other Texas statutes,
orders, regulations, municipal, county, or local ordinances, and Texas common law;
- any other federal law, state law, local or common law tort, contract, or statutory
Claims related to the Company Benefit Plans; and
- any other federal law, state law, local or common law tort, contract, or statutory
Claims of unlawful discharge, breach of contract, breach of the covenant of good
faith and fair dealing, retaliation, discrimination, harassment, fraud, violation of
public policy, defamation, physical injury, or emotional distress.
There is further lingo - No Future XOM Employment, 21-day Review, Recommend Attorney review, on and on.
HOWEVER - related to **Age Discrimination in Employment Act; the Older Workers
Benefit Protection Act**
On page 5 - buried in there a bit, THERE IS THIS:
- 7-Day Revocation Period.
(1) I further acknowledge and understand that for a period of seven (7) days
following my signing of this AGREEMENT, I may revoke (cancel) the
ADEA/OWBPA WAIVER by providing written notice to
REDACTED CONTACT INFO
(2) In order for the revocation (cancellation) of the ADEA/OWBPA WAIVER to be
effective, CONTACT must receive the written revocation (cancellation)
before the end of business (5:00 p.m. Central Time) on the seventh day following
my signing of this AGREEMENT.
Pardon the length of this - but, in summary, Company recognizes rather slyly that they are fully subject to the Age Discrimination laws (and probably even if no 'Waiver of the Waiver' is requested).
By the way - any legal action must be filed in Texas Courts according to this document.
That's just hooey.
(end of copied post)
A lot of confusion in this thread. NRE is anyone 3 years short of 55 years old and/or 15 years of service. Examples:52 year old with 12 years experience; 52 year old with 15 years experience; 55 year old with 12 years of experience; 60 year old with 12 years experience. Exception: A 65 year old does not have to have the 15 years experience.
If you are beyond NRE, I can just about guarantee you will be pushed out.They did it to a bunch of people last year.
61 your toast, prepare for NSI rating, Annandale is a mess, management has lost all credibility, just walk past PPLE nothing to see there, what a joke.
what happened to the "Hold on to your stapler....................." response? Can posts be withdrawn from this site ?
That's what i call a direct answer. Thanks OP
Hold on to your stapler, dear OP.
As NRE, you’re unfireable, like Milton.
They can make it uncomfortable but you’re a protected class.
hi @siw. I would be curious to know the answer to that one also. OP
I've been told that the VERY FEW NREs that have been PIPed and choose to leave are offered lump sum option on their pension @ 100 % if over 60. Can anybody verify ?
If you leave without being a retiree, pension is based on being 65 vs 60
Can’t you still receive 100% of your pension if you just wait until 60 to take it? My understanding from reading the policies was that if you take it at age 50, you receive 50% and it goes up 5% a year from there (75% at 55 and 100% at 60). But you don’t have to take it when you retire. You can retire at 50 and wait ten years to receive 100%, though it will be worth less due to the years of work aspect and lower salary salary aspect the pension formula.
@rlq Thank you..OP
OP, your coworker is correct.
@ala. Don’t have 15 years service yet in order to qualify as retiree. Would need health benefits and lump sum pension.
Hi all...OP here. Now I’m REALLY confused. A coworker in our office just told me NRE was within 3 years of age 55 (OR if you were already 55+) within 3 years of the 15 year service requirement. I appreciate everyone’s input and certainly not trying to start a debate. Just looking for some clarity.
Why are you still working at 61?
@csp. Wouldn’t a 60+ year old who doesn’t yet have 15 years still be considered NRE ? OR would the fact that they’re over 60 qualify them for lump sum in regard to pension. Would they be classified as a retiree .
NRE stands for near retirement eligible which is typically the age bracket 51-54 and is a "protected class" due to potential age discrimination legal precedents.
Once you turn 55, you are retirement eligible and "protected class" no longer applies. If you are 60+ you will receive 100% of your pension and you are definitely not protected from 'age discrimination"
Too much risk of age discrimination lawsuit. They just let people ride it out once they are that close to retirement.
Why would an NRE be considered “safer than most” ?
Why would NRE employees be safer ?
Thanks for the prompt reply. OP
Near retirement eligible. You’re safer than most until the rules change.