https://blog.techstaffer.com/exxonmobil-is-cutting-costs-will-a-pension-freeze-be-next note - dated 07/07/2021
15 replies (most recent on top)
OP: Yes! I hope so.
The sooner it happens, the better it will be for investors and the society.
All it takes is one O&G Major company to actually do it and watch it snowball. The only real question at this point is which company will pull the trigger first and when?
I heard Conoco might be doing the same. Do these companies realize this is how you drive away top talent?
Thanks for posting - really interesting article!
This company has done their best to penny pinch and they're still underwater - cut and run while you can
EM, like a lot of companies are trying to get their pension debt off of their books... I wouldn't be surprised
Pretty soon a pension freeze will be the norm at all of the Fortune 500 companies.
With EM bringing back the 401k match it wouldn't surprise me if they're looking for something else to cut.
There is discussion that Chevron is changing their pension plan as well. This seems to be a trend
https://blog.techstaffer.com/exxonmobil-is-cutting-costs-will-a-pension-freeze-be-next
Your link doesn’t work ???
Wow! OP got a -1 vote for sharing a link. Could the down voter share what your twisted soul tells you to do so? God forbids, fate will catch up to you. Nothing personal.
All - EM is throwing a dice to hope for the best without an exit strategy. You will do better to have one.
Look for a merger
Appropriate post for this board for a change.
Bravo!
The article is very informative and points to exactly what EM will do.
Only a matter of when.
And despite the fact a retiree taking a Lump-Sum rather than monthly pension will benefit the company - this is highly recommended by most advisors.