Thread regarding ExxonMobil Corp. layoffs

Sounds like typical management response of why “we always done it this way.” Playbook from the 1950s.

There are several companies that offers pension, 401k, and bonuses. Clearly, people who worked their entire life in EM bought in this scheme of letting their career stagnate for the pension and RSU, rather than moving on. The advantage in variable pay is that all the employees are impacted in good times and bad. It encourages teamwork rather than this cut throat behavior.

Pension is guaranteed. Bonus could be taken away due to a bad business performance factor equal to or close zero like Shell has done several times

To the guy wanting to trade pension for bonus:

1. Clearly you are young and likely un-vested. May I suggest there are plenty of other companies offering bonuses.
2. The increased RSU program is a step closer. This was a big change in the positive direction.
3. No bonus is guaranteed and rarely paid in full. Our leaders aren’t changing. Do you think you will be happy with how they manage success and split the profit.

I’m just saying: We asked for a new assessment system. The company delivered, and now we are complaining about the results. Be careful what you ask for.

I’d happly trade the payout and elimination of the pension for a bonus structure.