@24lkr+16zEvLP3
If only 70% of us will likely stay on and if you did not perform that great in the PA (anywhere from “Good”, or poorer), then I suggest that you start reducing your outstanding liabilities first, if a job hop opportunity is not likely to be forthcoming in the near term.
If you have a high mortgage on a private apartment / condo, start marketing it, to downgrade to a HDB.
If you own a luxury car, sell it. Either take public transport, or get an old COE car to get by.
With these 2 big-ticket financial liabilities out of the way first, you would be in better state, when the guillotine falls!
Also start reducing your credit card spending and the various high-drain recurring expenses, from premium telco plans, to fibre-TV packages. Stop all high-interest-bearing card rollover payments, cash overdraft loans and personal loans. These will k–l you and family, once you lose your job!
5508 replies (most recent on top)
AWS reduced to 1 month.
Grateful this post is still being kept afloat during uncertain times to let us connect with each other. Any chance we employees having some clarity on next year AWS and LTSA (assuming if i'm not cut by mgt yet...) ? It makes quite a difference for ppl tight financially, like me
Heard it’s gonna be 30% headcount reduction in positions, with names earmarked based on 2020 PA. So those NSI who survived PIP, followed by NI will go first.
How will the Singapore study turn out?
Singapore complex struggle is a new normal, but it won't be gone. Officials and rex came for opening ceremony, it will look really ugly if all the PUs and facilities are gone.
Sg em job losses will also be a new normal every year, as usual most of us will think "it can only happen to others". We should not let the bosses play us out... I will play my game.
We are definitely smarter, flexible and more adaptable than some managers. Lately some showing their vulnerability... feel like telling them don't be so obvious can.
Good luck guys. Hope you've found a backup plan.
@20fur+16zEvLP3
For AP F&L, they will probably divest Altona first and then Sriracha (now with TARP already dysfunctional).
Singapore is still the jewel of their crown in the Far East theatre, and it will take a lot more inertia to upstick the Singapore manufacturing complex completely and parachute into the Middle Kingdom, where the trade war and sanctions are only beginning to reach critical mass.
They may/could rationalise SG Ops though, by re-counting the number of crude units and reformers that we actually need to operate - like Shell Bukom did.
Be that as it may, it would still result in positions lost and headcount truncated.
EM will shift its plans to the China 1 project and then build two more of the same complexes elsewhere. https://www.reuters.com/article/us-exxonmobil-china-petrochemical-idUSKCN2241DJ
This leaves to a study on the delay of the CRISP project and the Singapore assets will be sold.
So first it will be a retrenchment of at least 30% or more to get rid of overhead and sell the assets with a leaner workforce.
I’m hearing 1st quarter the cuts will come. The asset sale is just a guess.
@1Zyzr+16zEvLP3 Cents wise dollar foolish.. imagine executive checking each receipts and reporting them up! Now that’s how we do it the EM way..
Why keep asking me to downgrade my SingTel plan? Omfg
You have zero clue what happened with those that were forced into involuntary. I know many exceptional/top ranked employees that were let go, it was not only PIP candidates.
This is not true. Most people I know that were placed on PIP ended up passing. Quit talking out your a–.
@1Xatk+16zEvLP3
Only the under-performers in NSI category were weeded out. Some opted for PIL and the rest accepted PIP (where most have failed miserably).
@1Xatk+16zEvLP3 Talents? Those that left are candidates for the next PIP. They made the right choice, DW will be happy for them too
@1Ypzc+16zEvLP3
EM has had significant amounts of capital (by the billions) invested in Singapore, over the decades ... and more to come!
This American (big fish) corporate is deemed “untouchable” as far as sealing long-term business relationships go, in keeping Singapore’s economy afloat with guaranteed future growth, training and jobs.
Why would (a toothless) MOM even rock the boat over such a “non-issue”, when it is the MTI (with the EDB) whose interests prevail and supersede that of the former?
Chant we are ExxonMobil three times and things will get better. Let’s go back to winning!
Snigger!
@1Wjpf+16zEvLP3 we are losing so many talent and you are concerned about "promotions" and oil price? Because of such stone age mindset, we are seen as backward in the eyes of the new generation. They don't want to associate with us anymore, simply because #weareem
You're a mo–n if you thinking getting rid of actual workers and minimal management will make this company top light.
After the recent round of layoffs and more importantly, PIPs for '21. This company will be even more top heavy with worthless managers than before.
@1Wjpf+16zEvLP3 - please continue to dream on.
How many people cursing EM to close down. Especially top management. Go out to field better do your LPSA. Don't fall from stairs and hit by dropping spanner
Why waste time food for thought about something you cannot even control? Unless u already stuck here for too long, trying to convince yourself? Highly likely is the case.
@1Wjpf+16zEvLP3n, there is a difference between reality and dream. Irrationality makes people laugh.
The bloke who is so bullish on Exxon probably is in denial or in illusion, thinking that positive cash flow is forthcoming and stock price to go back to hey days...by mere crude price going above $60.
Please read this carefully and you will know that the company is in decline , unless a complete revamp of management and board. XOM is still clinging on to outdated strategy and staying the course. The stock will be punished severely in years to come.
https://reenergizexom.com/materials/letter-to-the-board-of-directors/
@1Wbwn+16zEvLP3
You can join Shell, Chevron, or BP if you think that they’re better. My only caution to you is: Are you sure?
What about IT?
e-Commerce, data analytics, machine learning and backend coding?
Brent and WTI prices have already breached the $50/b mark (mid-Dec 2020) - which is the breakpoint crude price that was envisaged by EM Corp Plan folks in Dallas, to be the sustainment datum, to salvage back a net-positive cash flow!
Together with the TMTS and WE3 implementation through the remaining countries - especially for AP/Singapore, expected in 1Q2021 through end-2021 and beyond, and with the recent mass exodus of staff (through PIL / PIP, “self-help”, or otherwise), involuntary early-retirements (i.e., the top-heavy folks, as far as SWB goes), and with all major Capex deferred, the organization will indeed come out of all this much leaner and more importantly, top-light.
Imagine EM’s P&L and NCM going stratospheric, when crude price does return to $60/b, or higher!!
The rest of us who remain in the “re-invented” organization, will bound to see promotions, increments and bonuses all returning by 2022!
Now, that’s food for thought, yah!
Thinking to leave this work place, but don’t know which company can I apply to?
Both oil price and Exxon shares are turning. All of you will get more bonuses this year!
It's all DW's game. We are just tools to him. There is no long term loyalty anymore, so be the boss of your own destiny. We are smart people.
Why is the CEO job not outsourced to KLTC? Instead we have a tone deaf cowboy sitting on the throne, making c-appy decisions, which will be revised once there’s pressure from activist investors. Can we have someone inspiring for a change- at least someone who can speak well? So many rounds of management presentations, and the best they can give is DW? Come on!
They should outsource all the managers including the to KLTC and BTC since it's cheaper and better.
Do we really need management here, acting cool sitting there drawing US$ or other currencies? That could be translated to >5X working level folks here drawing SG$. Must be silently smiling that they can continue to claim every single personal expenses incurred by their family, but no one in SG get to see it.
Boom! 100K views on this post! Got to thank everyone for posting, sharing their views and being inclusive! Now that is practicing what we preach!
As we celebrate this remarkable milestone, do take some time to reflect and prepare for the layoffs in the months to come.
EM management will always say this to you: If you are not happy with the company, then please leave. You are not indispensable.
can't agree more, should have left earlier when my market value was higher. Anyway, 2021 is coming with AWS already earned. Not going to make the same mistake and already started my hunt, I know many are knoding their heads.
Did you change industry or just a change of firms within the same industry?
Ex-ExxonMobil employee here 🙋♂️ I chose to leave at my peak - couple of years back (when market value is still high).
I am richer now, not just because of a higher salary, but I am happier, healthier, and spending more time (and quality time) with my family now.
Those who were sacked during this period, move on, could turn out to be a blessing in disguise.
Those who are still in EM, feeling uncertain, frustrated, unhappy with all the internal fighting, gossiping, back-stabbing, stepping on others’ dead bodies so you can climb up the corporate ladder? Don waste your time in this corporation, not worth it.
99 out of 100 employees or ex-employees will tell you bad things working in this corporation. Why? And the 100th is none other than the bootlicker of the corporation.
Oh wow, almost 100K views, the most views omg
Oh sh–! I don’t even know what’s CMDC, so no exciting career for me, and a whole lifetime of shoveling sh– of hi-po awaits me! Oh dear oh dear!
Have any of you ever wondered if your own career development (in F&L) is being managed and planned for in CMDC, or like for the rest of us, in PDAC?
Go ask your supervisor!
If you fall under the purview of CMDC, then you are a deemed Hi-Po, whose career is destined to be developed to Executive levels in the company - which will include, but is not limited to, expat assignments in HQ/Houston and other EM affiliate offices and manufacturing sites around the world.