Thread regarding National Oilwell Varco Inc. layoffs

Any VERPs outside USA?

Seems they only offered them to Americans?

by
| 1956 views | | 4 replies (last ) | Reply
Post ID: @OP+1o0oBX73

4 replies (most recent on top)

In some countries the VERP is less than what they would have to pay if they got rid of them, so it's not exactly an incentive for everyone unless they feel it's easy for them to find another job. Also in some places, leaving a company before the legal retirement age can also mean they lose pension rights, which are worth more than a VERP.

by
| | Reply
Post ID: @apsn+1o0oBX73

Layoffs work differently in different countries. VERPS are not offered out of kindness or gratitude, they usually come with clauses that waive the employee’s right to sue the company (for age discrimination in the case of these older workers). Employees who refuse to take the VERP and are fired later could potentially sue, but few have the will or ability to go through that process and potentially still walk away with nothing.

by
| | Reply
Post ID: @7gyk+1o0oBX73

Why only the US?

by
| | Reply
Post ID: @5bot+1o0oBX73

Not that I am aware of...

by
| | Reply
Post ID: @2tcl+1o0oBX73

Post a reply

: