Thread regarding Chevron Corp. layoffs

I call it a bonus and always have even when it was called "Success Sharing". Who doesn't call their CIP a bonus? A bonus is a bonus no matter what they call it. You guys are reaching for something to argue about, is about it!!

So, what I'm hearing you say, 4kwf, is, "Yes, I do indeed have a comprehension problem, and clearly skimmed through the previous post, just as I skim through contracts, PMPs, or any other admin stuff that I have to do at work. However, rather than admit what is obvious to everyone else who read my hastily worded reply below, I would prefer that all of you just let it go." Does that assist you in making your thinking visible?

4eti, I can read, speak and write English very well. I know what's pretty clear in intent and meaning... You are trying to cover your erroneous post with semantics. You read my post correcting your error. Now just let it go.

3dnx you clearly have a comprehension problem, where are you assigned, Supply Chain, HR, or something? "CIP, preceded by Success Sharing." was pretty clear in intent and meaning.

No one at Chevron calls it Success Sharing anymore. How long ago did you retire, @3ger? The CIP is more of a "bonus" than it is "success sharing". The CIP is based on whatever rating factor the Board of Directors decides it can afford to payout based on the success of meeting its performance goals for the year. A true Success Sharing Plan pays out based solely on a percentage of the profits the company made for the year. Both are incentive plans, but the CIP is not tied to success sharing of profits.

OP is not Chevron, and never was. Nobody in or from Chevron calls it a bonus, it's CIP, preceded by Success Sharing.

Thanks @2yrm.

It was also presented during the ROM classes HR presented.

Don't feel like your package is different from the rest of us. The bonuses being paid out to laid off employees is no secret. Keep in mind it's prorated though.

Please take another look at your severance waiver and other HR documentation you received. If I recall correctly, it is mentioned in that documentation. Any employee who worked at least 1 quarter in 2015 (Jan 1 thru Mar 31) plus one day, will earn a prorated share of the 2015 CIP. Apart from being written somewhere, it was reassured to me verbally more than one when talking to the Chevron Human Resources Service Center (1-888-TALK2HR).

Can someone point me to where it says that those of us that were laid off recently, will still be eligible for a bonus? I've not read anything like this. That would be a nice surprise that I didn't count on!

We all know the Corp Factor is set by the Board of Directors. That doesn't take away anything the previous poster said. The Board will announce a CIP bonus as they don't want to upset middle and upper management at the BU levels.

The Corp Factor is set by the board, not management.

There will be a bonus, most assuredly. Reason: Mangement gets the same CIP "incentive bonus" that the rank and file employee does. Of course, because of their higher PSG salary grades, they get lots more. The bottom line is, though, we all will get a bonus. Just wait for the announcement on Feb 4. All laid off personnel who were terminated after April 1 will receive a prorated share of the bonus per the CIP bonus calculation.

What a hilariously crap move it would be to tell laid off employees they are eligible for bonuses, only to follow up later with the notice that you indeed were eligible but bonuses are 0.

I highly doubt the corp factor will be 0. I say .5 at the lowest.

Chevron is borrowing money every quarter just to cover the dividends? Bonus? for losing money???

Thanks nlz!

Jnz: yes, it's prorated.

You still get a bonus if you were laidoff last year?

I have a date of Feb 4 marked in my iPhone calendar for the next Chevron Worldwide Employee Teleconference. The Chevron Corp Rating will be announced by the Kingpin himself, John Watson, on that day unless he loses his voice again or the nerve to face the employees. The BU Award rating will be announced soon after. So if you are no longer with he company, you can either contact a former colleague to find out or read the results of any bonus on this site. The Corp Rating will be widely reported here. The individual BU award will need to be requested internally or requested for someone to post here. Then again, if you consult the Chevron HR Benefits Connection website from home, you may even get the official communication.

You got to be kidding me. There will be no bonuses this year. Chevron is trying to survive as a company. They aren't worried about your sorry ass.

At the Feb Global Town Hall