I have been thinking about what I'm going to do if I an NSIed this year. With tens of thousands of loyal employees laid off through the performance assessment excuse in the last four years or because they were fed up and just resigned, there are not many of us left even with the new hires. Chances of being NSIed this year and in future years are very very high. I've heard about the PIP but I'm so tired of this toxic environment that I just want to leave and start somewhere else even at a lower salary. I've just had it. I've heard there there is another option for employees that are NSIed which is just take the money, turn in your laptop and be gone. What is the name of this option? Payment something I think. Do you know the name? For those of you that have gone through this painful experience please give me details. Don't be shy. Tell it how it is. Here are some things I want to know.
From the moment you are NSIed, how much time do you have to choose between the PIP and the payment option?
How is the payment option calculated? I know the PIP is three months. Is the payment option three months of pay? How long does it take for Exxon to deposit the money in your account? How is it taxed?
How about the lump sum for the pension? How does that work? And, how long does it take for Exxon to send you the check? I guess it's a check and Exxon mails it to your home address, right? Or does it just roll over directly to an IRA? Same question with the Savings Plan.
When do benefits end?
What are the problems that you encountered once you left the company? Does Exxon keep contacting you for any reason even after you have disconnected from it in all ways?
Please, tell us so we can make an informed decision. And good luck to you all.