This acquisition could be your early ticket out

For those of you fit and ready for retirement, this acquisition could be your wet dream, your early ticket out. Chevron’s standard severance package pays 2 weeks pay for every elígele year of service (8 weeks minimum and 52 weeks max), plus 6 months of subsidized COBRA medical insurance premiums. Chevron also allows 6 months of uncontested State Unemployment Benefits. Note though, if APC’s standard severance package is better, you will get the better of the two. It happened when Chevron acquired Texaco in 2001. Texaco retirees got a sweeter deal. Many people opted to retire early.

Any truth to what @YyiiE9V-oue stated? Is this really how it works?

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Chevron and Texaco merged. Plenty of former Texaco people still working in downtown Houston for Chevron. Chevron acquired Unocal (like they are acquiring Anadarko). I bet you can count the number of Unocal people on your hands, minus a few top executives. Everybody polish up that resume.

Quick note. Chevron and Texaco merged. Don’t count on anything that is written on Anadarko letterhead.

It’s too early to know if there will be a voluntary severance. Once things are sorted out, the announcements will be made. I think between the two companies, all the rotten apples will be accounted for and thrown out. No need for a widespread raising of hands.

Can I raise my hand for the change of control severance package?

It’s a true account, OP. It’s rational too. If one company’s severance plan policy gives its departing employees a better severance deal than the other one, to avoid discrimination and lawsuits, both companies will have to opt for the more attractive plan. It all comes out in the wash. The company acquiring the other will take the total cost of severance plans into account when negotiating the price and terms of the deal. Text book stuff.

You had me at wet

Thread regarding Anadarko Petroleum Corp. layoffs

This acquisition could be your early ticket out

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