Remind me how the US severance scheme worked last time. Two weeks base pay per year of service? Do they withhold taxes? How long after your last day do you get it? Can you defer it to next tax year?
4 replies (most recent on top)
I EOI'd back in 2016 and was one of the fortunate to get the package as I was planning retirement anyway. The payout came about 3.5 months from my last day in the office. As previous threads indicate, Chevron paid my salary for the 60 day WARN period (for TX employees at least) and then gave me 30 days to sign my severance papers and release Chevron from any discrimination lawsuits. My severance check was cut shortly after they received this release form. The package back then was for 2 weeks salary for every year of service with a max of 52 weeks paid out. You better believe they withhold taxes: 25% Fed, 2+% Medicare and State Tax if applicable. Payout could not be deferred back then so just hope they offer the package late in the year.
Hey why don't you blow smoke uup yer a$$. This is just plain bull there is no severance for losers like you.
A Severance package is in no way, shape, manner or form a guaranteed offering and as so, it is the company's discretion as to how much it will be, or if one will even be offered at all. It's laughable how many newbs get on here and ask or post about severances as if it is some type of benefit that they company owes or has promised you. It is not. CVX has a very good track record of providing decent severance packages to those let go and in some cases, to those who would like to voluntarily go and state "EOI" during staff reductions. There is no guarantee even in those cases that it will work in your favor. In general, if you plan to retire, or quit, etc.= No severance unless you just happen to time it perfectly coincidentally with layoffs and you are offered to forced to take one. Sure, you hear the stories of those who's timing was ideal. Those cases are rarer than you think. Don't count on it. I would like to win the lottery too - lol.
CVX at $120 today. JS.
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Chevron Severance Package
Would someone be able to tell me what a typical Chevron severance package is today? Thank you in advance.
3 years ago by Anonymous122025 | Post ID: @CCLOemK
2457 views | 6 replies (last 3 years ago)
What is the percentage of taxes being taken out of severance packages that have been received? Ball park figure please. SP is base salary, not including CIP correct?
2 years ago by Anonymos 137572 | Post ID: @FSIxCnF
2723 views | 17 replies (last 2 years ago)
Chevron is sending out notices of termination this week at the SJVBU. At this business unit more females, relative to total males.
Notifications of employees in-scope for the RAE (Resource adjustment Exercise) were sent via email on Thursday. Many females relative to males are a included in of this exercise. CVX intends to pay out for 60 days as if employees are still workers on payroll but the employee technically no longer has a job at Chevron. After that a severance might be offered. Once an employee sign the severance, the right to sue for discrimination is gone. Contact an attorney before you sign any severance. The majority in RAE are female.
3 years ago by 93311 | Post ID: @CVqb7ho
983 views | 11 replies (last 3 years ago)
Chevron Severance 2015
Does anyone know what our typical severance package includes today?
3 years ago by Anonymous93023 | Post ID: @B7ZeRgY
712 views | 4 replies (last 3 years ago)
2016 severance package
Word is it's approved. Does anyone know if it has changed at all from 2015 package?
2 years ago by Anonymous | Post ID: @EXSIbr1
2135 views | 3 replies (last 2 years ago)
Severance and taxes
Just wondering about the tax implications of a lump sum severance payment in 2015- is there any way to delay payment until 2016? If I get laid off mid-Oct, then receive 60 days pay under WARN. Afterwards, I would have to sign a release to receive severance. How long will they give me to consider and sign the release? If 30 days, then I would delay signing until early January, deferring the income to 2016..
3 years ago by Anonymous139523 | Post ID: @D5ieGrC
469 views | 7 replies (last 3 years ago)
After checking the info on my Benefits Connections/Retirement/Severance page on the advice of a manager, I noticed that the weekly regular earnings figure used to calculate my estimated severance is about 7% lower than my regular weekly salary noted on my pay check stub. This results in a lower estimate of severance than my own calculation, based on my pay statement. The difference is several thousand dollars. Several colleagues I have checked with report the same apparent discrepancy. Has anyone else noticed this, does anyone understand the basis for the difference, or is this an error?
2 years ago by Anonymous | Post ID: @G2pzVyu
2712 views | 25 replies (last 2 years ago)
severance packages for anyone over 62,
I M READY TO LEAVE THIS COMPANY ,WHY DOESNT CHEVRON OFFER SEVERENCE PACKAGES FOR DOWNSTREAM PEOPLE.THE EXTRA MONEY COULD HELP AND MAYBE SAVE SOMEONES JOB,OF COURSE DOWNSTREAM IS HELP KEEPING CHEVRON AFLOAT,LIFE IS SHORT.ENJOY IT,MONEY ISNT EVERYTHING..IM NOT RICH.AND I DONT CARE,,,
2 years ago by Anonymous | Post ID: @GrN5CHO
1661 views | 12 replies (last 2 years ago)