This question bugs me, I admit. If that is indeed the case, to what degree could they plan to cut at Chevron? Is there a clause in the merger deal that prevents Chevron from firing Anadarko employees after the merger?
14 replies (most recent on top)
The APC change of control is shocking amazing and I am crossing my fingers Chevron doesn’t want me or does not have room for me and let me take the package and run.
Hey, OP. I guarantee they’re gonna grab more than the shorter end of the stick. They might also be catching their @ss.
The change of control is nuts. It continues for THREE YEARS! Location change triggers COC benefits and Woodlands office is 33 miles from downtown, thus CVX will keep that office three years then shut it down to avoid paying severance. Younger employees may be offered jobs downtown but anyone with more than 20 years or so will stay put.
The 65 instead of 52 is for severance pay.
This situation is change of control case and two years is maximum, 3 months salary is the minimum. One will have to show "good reason" to be allowed to take this offer. Reduction in pay, responsibilities, work location (that's where CVX got in love with Woodlands office) qualify for good reason per change control agreement.
You cretins believe anything anyone writes. You can read the APC severance plan online. It is marginally better than the Chevron plan. 65 weeks instead of 52. Big whoop.
@1hue, That’s 2 years maximum. Not everyone gets that much. Depends how many eligible service years you gave earned with APC. Although it’s great. CVX only doles out a 1 year maximum if you had 26 years or more with the company.
Wow that's better than the PXD voluntary severance package that just went out.
The APC severance is out of this world. Whoever wrote it is the real MVP. I know several employees who want to take the money and run. Times are good in O&G and the job market in general, especially if you have a job that is not O&G dependent (IT, Accounting, Finance, etc). So don’t feel too bad for us Anadarko peeps.
“APC employees get 2 years pay for change of control layoff and all stocks vested.”
Is this for sure or is it hearsay? I’d take that deal and run run run!
Where was there a merger?
Typically, employees of the vanquished company go to the slaughterhouse. But Chevron will take this opportunity to do some house cleaning too. It will be interesting to see who gets the axe. I can think of many.
Wow @wpk, it’s really 2 years of pay? Show me the door, pleeeease!
APC employees get 2 years pay for change of control layoff and all stocks vested.
Get real... there will be blood!