However, employers do not offer severance packages merely to be nice. Keep in mind that because severance benefits are not mandatory, there is no one-size-fits-all package for employees. However, a commonly accepted formula for coming up with the average severance package is: Number of Years Worked X 1 – 3 weeks + Minimum State Mandated Base = Severance Package. The State Government said BP confirmed a redundancy package would be available for workers, and that they had commenced efforts to find workers new positions in the sector. BP has already set aside about pounds 400m against the costs of its earlier redundancy programme. Unfortunately, though, you don’t have a lot of leverage in negotiating the terms of your severance package. Forced redundancies will now be based on internal scores and rankings. AFP via Getty Images. The company said the decision followed a 10-week review of the Grangemouth refinery and petrochemical complex in Scotland. In order to receive the severance package, employees will often need to sign paperwork saying they will not speak negatively about the company. BP’s in-house legal team are among those at risk of being cut as the company ends its redundancy freeze. BP aims to cut almost 15 per cent of its roughly 70,000-strong workforce by the end of this year. In a separate move, the company announced the … A three-month redundancy freeze introduced in March has been lifted. BP is looking forward to making around 7,500 mandatory redundancies after approximately 2,500 staff applied for voluntary severance. BP's Bernard Looney, speaking in February 2020. In an internal memo this week, BP said that out of 23,600 people eligible for voluntary redundancy, some 2,500 had applied, including about 500 people in senior roles. ... indicating that for the first rounds of layoffs BP will ask for volunteers willing to accept redundancy packages. They may also need to agree not … BP announced today it was cutting around 1,000 jobs at a huge oil refinery. If your employer offers one that seems unfair, you’ll need to do some research to make your case. You’ll also need to prioritize your asks. In an internal memo this week, BP said that out of 23,600 people eligible for voluntary redundancy, some 2,500 had applied, including about 500 people in senior roles. Two BP sources said the company considered more than 10% of those eligible accepting voluntary redundancy as a good turnout. A severance package can soften the blow, and help you transition from jobholder to job seeker. BP will see close to 10,000 people leave. Employees were typically offered one month's salary for every year of service.