Thread regarding ExxonMobil Corp. layoffs

Actually, @2zzc+17d72518 must be Darren Woods. Thank you sir, may I have another?

@2qgn+17d72518 must be Darren Woods. Thank you sir, may I have another?

@2qgn+17d72518

Plenty of people are getting jobs after resigning. Quit your b–ching unless you are truly a poor performer and have no marketable skills. At that point... What use were you in this company?

Note: The following post was in reply to @2ovk+17d72518:

you are right. The unemployment rate is 8% and several major corporations have announced near term plans to layoff tens of thousands of employees. It’s a great time to be thrown to the curb and look for a job! I’ll bet you are an “Outstanding” employee. The high potential was evident from your post. Keep thinking and sharing those insightful comments.
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We are not in a job market of record unemployment. What are you smoking?

5 hours ago by Anonymous | 3 reactions (+1/-2)
Post ID: @2ovk+17d72518

ExxonMobil has a long history of layoffs and providing a SPOSA (severance payments similar to what the Chevrons and Shells still do). Most of the large scale SPOSAs occurred in years prior to the 2008 Great Recession. Rex decided not to lay off employees during the Great Recession and the oil price collapse in 2014. The industry still hasn’t recovered from the latter event and COVID has made things exponentially worse. The hard times will last a very long time and ExxonMobil will permanently become a much smaller company. It’s currently moving out 8-10% of the U.S. workforce and will cut more over the next several months. It’s a lay-off situation and not simply a performance management exercise with no intent to reduce the size of the workforce. Get real. Those impacted should have been provided a SPOSA as Chevron is doing.

@lgto, you are right. The unemployment rate is 8% and several major corporations have announced near term plans to layoff tens of thousands of employees. It’s a great time to be thrown to the curb and look for a job! I’ll bet you are an “Outstanding” employee. The high potential was evident from your post. Keep thinking and sharing those insightful comments.

@1gto+17d72518 - you say: "ExxonMobil has always (and other majors continue to) provide a severance payment (SPOSA) to those who are laid off." I thought it was a point of pride (for the CEO and the Board) that Exxon and EM has never had a layoff?

@2wrb+17d72518, did those forced to retire get any kind of severance, i.e., 3 months of pay?

@1gto+17d72518

We are not in a job market of record unemployment. What are you smoking?

XOM is going to pay for the way they treated their employees. Many good ones are leaving, many other good ones remaining are embittered and slow walking their jobs while focusing on building their skills and the smell of cynicism is thick in the air while the management team are engaged in Machiavellian escapades while madly posting empty platitudes and buzzwords on their yammer to blow smoke up the butts of the leaders they think can save them and at the same time undermining their peers in the hopes of being the last ones remaining.

Check your facts people...those who elect to resign due to MLRP (low performance) got 3 months pay and outplacement services (resume and job search help). As a previous poster mentioned, US is “at will” employment and the company isn’t obligated to do anything.

Aside from the dishonesty, the difference is ExxonMobil has always (and other majors continue to) provide a severance payment (SPOSA) to those who are laid off. The business climate is terrible and the company needs to cut the workforce by 8-10%. Does it treat those employees with dignity and provide a SPOSA to help them navigate a job market during a time of record unemployment or does it require it managers to tell the affected employees they s— and are being fired without a SPOSA? For those just tuning in, they chose the latter. The remaining employees observed this treatment of the PIPed employees and most of them will think somewhat less of their employer and realize it may happen to them in the future. The NIs must be sweating bullets waiting for the next round of cuts over the next several months. In tough times, successful leadership requires honesty and fair treatment of employees. The current senior management regime seems to prefer a “situational ethics” approach to communications and actions that dramatically impact people’s lives. The ill will among the surviving employees created by this new approach to mass workforce reduction will likely outlive the relative pennies saved in the process. Frankly, not sure if management cares anymore, which raises more concerns about where we are headed. I sense they are doing whatever it takes to save their own asses for a few more years. Good luck.

I have a question and I hope its not taken the wrong way.

I understand the grievances associated with laying off people under the guise of PIP, but why would it matter if at the end of the day Texas is an "at will" state, meaning they can fire you for any reason or no reason. So what difference does it make?

Thank you

@oal+17d72518

Also not the person you responded to, but the covid crisis in China began to put rapid pressure on global demand in January. The only reason Russia-Saudi conflict was as damaging as it was, was because of the deep cuts required to satisfy supply/demand because of the impacts of COVID. I would call that a black swan even.

@oal not the person you responded to, but I would say the intensity and simultaneous occurrence of both events would be defined as a black swan

#WeAreExExxonMobil

@rlr - With all due respect, neither Covid nor OPEC+ price war are "black swan" events. A global coronavirus pandemic is entirely within the realm of expectation, it's a tail risk, sure, but it didn't come out of nowhere. The Gates Foundation along with Johns Hopkins and WEF literally ran a pandemic simulation of almost this exact scenario last year. Hell, even H-E-B had a pandemic response plan, but XOM doesn't?

As for OPEC+ cartel actions being a black swan event, that's laughable. It's happened countless times in the past, what makes anyone think it won't happen again?

When the dual black swans of COVID and OPEC+ over-supply struck, XOM cut capex by 30% and opex by 15%, and got great terms on two loan instruments to ensure we had liquidity. Mgmt made decision to defer major projects that were pre-FID, and released contractors and drilling rigs. Then XOM increased its performance-based workforce reductions. During these activities, Mgmt is pursuing additional studies on workforce reduction, benefits and work transformation. Unfortunately, some boneheads in HR leaked proposals to cut benefits (401k match) which would not have happened this early, but would have been part of a master roll-out.

EM is very transparent on its workforce reduction - Low Performers will be cut with no Severance - Save money to pay dividends

@ssw+17d72518 because it is cheaper? Every company is using the loopholes given to them to reduce costs. Even Chevron is PIP'ing employees.

@ock+17d72518, but why trim fat in other ways, I'm just curious.

Exxonmobil s—s!

Layoffs are coming. We just had to trim the fat in other ways also. Leave it to exxonmobil to be late to the game due to over analyzing something.

BTW, reading some of the other sites layoff forms, they are also getting rid of their employees via PIP like programs.

#WeAreExxonMobil