Close to the New Year. What do you think will happen in 2023?
Site Closure, further reduction, new executive boards, heavy litigation from government, etc?
16 replies (most recent on top)
We will be less than 5000 regular employees at the Houston Campus by the end of 2023. All jobs that can be done remotely in a lower cost country will continue to be offshored.
In 2020, we were 13,000 employees (10,000 at the main campus, 3,000 at the two Hughes Landing Buildings).
The work we did on out sourcing back in 2017 indicates that probably 75% of US jobs (think EM campus), could be outsourced... Most analytical/engineering/finance/accounting and IT jobs could be sent to BSC or out sourced.
The harder jobs to out source on the site specific jobs at refineries, in Chem plants and on platforms and rigs in the US. Many of the site specific activities on these sites could be out-sourced though.
If pension is ended. No issues, you are vested and will collect. but it may not be a lump sum and it could be discounted.
Check COP and CVX plans for how it might get changed
@2aiu+1kr8lz4q is 100% correct. The businesses thought that moving work to Global Centers was outsourcing, it's not. The next phase will see everything moving to true outsourcing including India. Good luck achieving anything in this new model. The irony is, every other major has already seen the failures of outsourcing key support, yet xom thinks it knows more and continues pursuing this short sided strategy.
Supervision and Management in Annandale will finally be introduced to PIP, buyer waiting in wings for surrounding property, technical resources have evaporated at this site, leadership knows EMTEC in Annandale is past its expiration date. Lots if parking here 😆More hiding in dark labs, hey BM can you find me? 🤡Only a handful will be offered Gulf Coast, with recent contract , ILEU caved on contracting jobs, it’s on now folks, sit back and watch the show…they won
Outsourcing of the work done at the GBCs to third party companies that specialize in these things. Leadership team knows there is no value in so many custom tools for exxonmobil. Also they will streamline many other processes and cost centers that the GBC has created in order to make work for themselves and make everyone elses' life harder.
Good luck Buenos Aires.
I expect a declaration of Moral Bankruptcy from the company any day now.
No effect on the dividends.
I expect cost reduction activities to continue throughout 2026:
PIP for 2023 will likely return to 3-4% historical levels.
Stand-alone unprofitable and/or high GHG producing assets will be sold out.
Continue to outsource work to lower cost regions such as India, KL, and South America.
Attrition to continue but may slow down a bit from 2021 & 2022 levels while aggressively attempting to hire experienced professionals and bring back annuitants.
Don’t expect high raises like that given in 2023 till 2026.
There are very very few companies that offer pension plans. EM is one of them. Pension plan works for recruiting talent for life time employment when talent was scarce. The value of the pension also goes up as the person approach retirement.
Under current practices rank and yank, I don’t see how employment with any company that practice this would be attractive even if they offer a pension. I rather a company provide greater 401K contribution and other benefits so I can make my career more portable and be in control of my money.
There are very strict rules with pension. Some companies grandfather existing employee under old plan or give option to move it to other financial instruments.
Uggghhh, with all the other stupid stuff, I completely forgot about a possible pension threat.
If the pension goes, get ready for record high attrition. Plus in some countries, that’s not allowed
Pension plan postponement with the narrative that we asked for this and why it’s such a great idea
If the pension plan were to be discontinued, would we each get the lump sum at its current value?
ExxonMobil discontinue pension plan. Further reduction in headcount at supervisor / management level and moving these roles to low costs countries.
Annandale will be shut down. It's already in the plan. The land around it already has a buyer. The building is a ghost town. People are leaving every week. There is no reason for it to remain open.
The newbies that have been hired on the second half of 2022 in an effort to compensate for the massive resignations of top talent since the second half of 2021 will painfully realize that they fk'd up, that nothing that was promised to them was true, that their supervisor doesn't give a fk about them, and that there's a website, TheLayoff, where a different picture (very different from what was depicted during the interview) is being painted by their more senior colleagues, and that this new picture looks actually pretty accurate based on their very short experience so far.
After this realization, they will join the army of crushed souls that come to this website in search for an antidote to the pathetic gaslighting they get from management, and for support and courage to leave this toxic place and thus amend the painful mistake they did when they decided to join.