Do you think those that were denied early retirement last year will be the "savings" ITC will claim this year?
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Around 60 employees were turned down. On top of that quite a few of these were placed in jobs that didn't align with their skill sets.
No early retirements. Just layoffs. Ugh!
sounds normal.
My supervisor who would know said no sweetners/early retirements in store. Two reasons. One they believe that a vast majority would take the buyout. Two they don't want to spend liquidity on buyouts. So I question the cash part. Do you mean to tell me Chevron is that concerned about cash flow? And then he shows me balance sheet and projected cash flow. They just won't have cash. The only light I see and my God is it a long shot is we know Chevron has to sale assets for cash flow. Maybe a chunk of us end up at a Hess, Anadarko, Conoco Phillips????? Hey I can dream!
The message I'm getting is work for us for 25 years so we can fire you before you reach retirement.
What ever happened to the good old days of ROM's every 3 or 4 years. Dropped to every 2 years and now down to every year. What messge are we sending to the XYZ gen. I am seeing a lot of good talent jumping ship. If I was a new hire not sure I would try to stick it out here any longer.
I'm sure. But worry not. Same deal in ETC. Corp says cut 25%. ETC says we saved in this b-plan so we only need to cut 18%. Last I heard my group is being cut by one third. And remember, this is the first round in a multi year process.