To the folks still at COP, drop a line here in regards to the 2016 VCIP when some new info comes out. I know the chances of getting any sort of bonus next year is slim to none.
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tax time!!! Will COP send us a W2 for the prorated bonus I received last year for 2015. I received the bonus in March 2016. So I assumed I would get one, but its Feb 1st and I still did not get one, only received one for the COBRA insurance.
When I was laid off, my discussions with the Benefits Center led me to believe I would receive a prorated share of the VCIP for the time I worked in 2015. I did sign the waiver.
bobdole--you are wrong. Everyone let go in 2015 via the severance process will get a prorated VCIP.
Bobdole, check your facts, during the last round of layoffs the COP severance pay plan still read that personnel who signed the agreement (promise not to sue letter) would receive a prorated portion of vcip. What is not clear is whether the sups and managers will make adjustments to those vcip portions to give higher allocations to those who survived rounds 1 and 2. Whatever, I am happy to get any money at this point.
You people are wondering if you'll get a bonus?! Really??! Just be glad you have a job.
If you are not an employee on the day that VCIP results are announced, you are hosed. No bonuses are paid to past employees that are not on the payroll on the day of the VCIP announcement.
That's what prorated means! (Depending on when you were laid off)
The performance is sub par, massive layoffs or not. At the time of the split, no expectations of cash flow positive until 2016-2017 even at the $100 per barrel price.
Massive lay-offs already happened. We lost good people and future performance will be hurt.
Bonus? You will be lucky to have a job. Massive layoffs are imminent.
first, second, third, or forth round of lay-offs?? Some will get more than others depending on when you were axed.
Will laid off employees get prorated part?
understand that the company portion will be much lower due to "company discretion". Will be half of what it was last year at best. Definitely will get a low score on shareholder return even when you factor in the massive .01 dividend hike. My source said t expect between 45% - 90% total combined payouts.
Rumor is the 2016 VCIP will be just as good as it was last year. An additional one-time (non-benefit hearing) bonus equivalent to 1 month salary will be included. This will be done as a moral booster. I can only suppose the justification is due to having fewer employees on the payroll going forward.
Porky will certainly get a fat bonus.