Thread regarding ConocoPhillips layoffs

Merit increase and 2025 VCIP

Obviously the company is trying to get people to quit on their own to save money on severance packages. This is evident by canceling HOW, changing vacation to PTO, and getting firm on people being in-office for 9 hours a day.

Do y’all think the company will double down on getting people to quit by freezing pay increases and doing 0% VCIP payout? I mean why not?

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| 3323 views | | 11 replies (last 9 days ago)
Post ID: @OP+1w4hvSiZ

11 replies (most recent on top)

Folks coming over from Marathon will see 3.5%? What a windfall! 2020 - 2.5%, 2021- 0%, 2022 - 3%, 2024 - 3%. Victory!

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Post ID: @5n8+1w4hvSiZ

@4zt+1w4hvSiZ That may be so as far as the company strategy. But for individuals working, their main goal is to beat inflation to increase their purchasing power. Therein lies a disconnect or misalignment of goals between company and employee. If a worker barely keeps up with or loses to inflation, they are worse off financially than they were a year ago, despite having worked for that year. Its hard to be happy about falling behind. Company should incentivize staying instead of having to jump companies to get a 20% bump in pay.

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Post ID: @52v+1w4hvSiZ

The midpoints and their adjustments (merit) are made based on market factors of our competitors through a survey firm such as Mercer. Inflation only plays a role to the extent that it impacts the salaries in the industry as a whole. The comp basis is more accurately a reflection of what the industry must pay for a certain role or level of experience etc… The abundance or unemployed, underemployed and highly experienced people looking for work in our industry places downward pressure on salaries.

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Post ID: @4zt+1w4hvSiZ

y-o-y inflation at 3.4% - looks like everyone gets a 0.1% real pay increase for all their hard work! And that is based on the cooked gvmt inflation numbers. You factor in real inflation that Joe the Plumber sees in his real life, and you find yourself at losing purchasing power after merit increases.

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Post ID: @4ye+1w4hvSiZ

Looks like the folks coming over from marathon are getting 3.5%.

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Post ID: @4a1+1w4hvSiZ

Things could be worse you could be over at the heritage building where someone must have voted in favor of pizza parties over unfreezing salaries. Pizza! Pizza Party!

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Post ID: @461+1w4hvSiZ

I am thinking 4.5% average for the merit increase. How do I arrive at that number? Just guesswork

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Post ID: @33s+1w4hvSiZ

Back to the battling business units model of VCIP. These id--ts have learned nothing. Total waste of resources to work towards intermediate goals instead of the corporation as a whole.

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Post ID: @3mgv+1w4hvSiZ

HSE target gonna ruin the VCIP anyway. and next year VCIP model gonna change again... total bi--h move

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Post ID: @2ufu+1w4hvSiZ

I think vcip will be 100% of target, probably nothing above, but can’t rule out something below target either like 80% or something. They’ve been laying the ground work for something like this the last 6 months in every communication

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Post ID: @2eaz+1w4hvSiZ

Executive leadership is incompetent… their only objective is to maximize their net worth and power/control. Forecast accordingly.

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Post ID: @1xxn+1w4hvSiZ

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