ExxonMobil is an over compensating, technically backwards and a dying company. It is about time it get rid of pension. The modern and competent workforce is disappearing at Exxon and the unnecessary benefits like pension are ensuring the the useless cripples hold on to ExxonMobil job.
16 replies (most recent on top)
This article claims that the trend is Pensions coming back into popularity:
https://www.nytimes.com/2023/11/24/business/pension-retirement.html
@qvy+1oAtpcod @DW with the big D Just putting a rumor out there or do you truly have any credible source/knowledge? The "pension is being eliminated" rumor has circulated for years and years. Proof or your post is B.S.
Darren Woods, I challenge you to get rid of Pension! You do not have guts to do it. We challenge you.
I love the reference
useless cripples who cannot find jobs elsewhere
to be fairly accurate as most of my constant meetings attending colleagues and management are well described by this precise identification.
@1lci Thank you for agreeing with the wisdom of the OP. You are absolutely right - but I suggest keeping and not removing "minimal salary" and "needed health benefits for the family" for the working employees. The rest of the benefits are fair game to be removed with immediate effect.
This message was sponsor by the ExxoMobil social media Litch Department.
So OP has found the silver bullet to attracting a “modern and competent” workforce to save the dying company - get rid of the pension! No doubt, the reason why EM can’t attract well qualified candidates is the pension! Eliminate it and it will all be fixed!
Well, the delirious management has already eliminated offices and now even desks; maybe they should eliminate the salary and health care and EM will finally go back to be a prestigious and attractive employer.
The pension still go away cuz xom needs investors and everyone in investment circles knows it's in a dying industry. The question is who will absorb who, Chevron or XOM. XOM will squeeze all the juice it can before the leadership gets replaced.
Double-match on 401K contributions.
That's the new thing they're talking about.
Time to remove, obliterate, finish , pension.. Nothing good will ever come out of this for the shareholders. It will only generate more lazy b-ms and will lead to eventual environmental disasters.
Cool story bro
Hate to be the one to tell y’all (yea, ok, I LOVE telling y’all this), but yes, the pension is going away next year. Anyone with less than five years gets a thank you for your service, over five years, your pension will be frozen, you’ll get a lump sum if you retire at 55 with 15 years. Why is it going away? We need to be more competitive with the industry. The good news is that we will increase the dividend again and buy back stock, so we are increasing employee compensation.
Increase salaries !!! Lol
it's one of the benefits that are that helping keep people in the company longer and preserve knowledge. Remove it and they will need to start increasing base salaries and rework their approach towards experienced hires, because they WILL need to bring in experienced hires to replace all those who value the pension benefit.
Not a troll, I agree.
Obvious troll. Not clever.