for 60+? Likely?
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I am sooooo happy that I left last year before this **** got started.
I am sooooo happy that I left last year before this **** got started.
I am sooooo happy that I left last year before this **** got started.
ROM stands for RETIRE OLD MEN
I think if the oil price continues to go down to 30s and remains there longer, Chevron has no option but to reduce staff aggressively through voluntary programs, even if not with overly generous packages.
ROM = Resource Optimization Management. As I understand, they decide to eliminate certain positions and offer the employees affected an opportunity to be considered for other vacant positions, or choose to be "left standing," which means they can opt for severance - this is particularly relevant to costly expat positions.
What does ROM and "Left Standing" mean?
Well my husband starts his 37 year at Chevron, originally Texaco… At 55 years old he is vested…. so if he walks away with his pension, 401K, benefits, and severance. I will say thank you… you have been great to our family…. he can be targeted….
What is ROM?
If you are in scope for a ROM you can volunteer to be laid off. If it's permitted, you'll retire and also recover severance (2 weeks per year of service up to 1 year of pay).
What is "the ability to volunteer to be left standing" and what are the implications? Thank you.
No. The ability to volunteer to be left standing is all that will be offered. The employees near retirement are going to have incentive to retiree anyway once interest rates being to rise because their pension lump sum will decrease by more than they make in a year.