Are only PIPs used to reduce workforce?
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Guys, we have to stop talking about the headcount reduction. It's bad for our mental health. Look Warren Doods wants to get rid of all of us. That is very clear. What we have to do is give him what he wants. Let's all resign and let ExxonMobil go to sheet. We have been treated like dirt for long enough. Let us all leave and let the indians do everything. Now I would recommend we all move as far away as possible from any ExxonMobil manufacturing facility because the chances of it blowing up are high.
PIPs = Lol’ing at the WARN Act?
Copied from another thread by Lizzo (🤣):
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Truth hurts:
2030 headcount plans are -20% in HC10.
*-20% is 4 years of NSIs being ousted in entirety (which doesn't happen in one year-- meaning NSI must be > 5% at least until 2030)
This means if your VG now, you won't be here by 2030-2032.
The smart people have been doing the math and are over the ridiculousness of an archaic system designed to RIF without severance
@gh especially young ladies under 10 YOS.
I truly believe that the PIP system is stressing out employees, especially the 40 to 55 crowd.
The absolute hateful looks I get from strangers around campus, as if I was wearing a rival team jersey prior to a playoff game.
Either 99% of employees need therapy, or their therapy is failing.
The answer is "NO". We lead the industry in structural cost savings.
ExxonMobil has increased the structural cost savings target to $20 billion by 2030 according to our 2Q2026 earnings report. We should expect the $20 billion target to increase to $25+ billion next year.
Structural cost saving at ExxonMobil refers to long-term, strategic reductions in operating expenses achieved through efficiency improvements, workforce optimization, and process transformation.
Definition and Purpose
Structural cost savings are systematic, multi-year reductions in a company’s operating costs that go beyond short-term cuts. For ExxonMobil, this involves streamlining operations, consolidating value chains, centralizing key activities, and leveraging digital technologies to improve efficiency and execution effectiveness
The goal is to enhance competitiveness, maintain high investment levels, and sustain shareholder returns, even during periods of lower commodity prices
Implementation Strategies
ExxonMobil achieves structural cost savings through several key initiatives:
Operational Efficiency: Optimizing production processes, maintenance, and facility operations to reduce waste and improve reliability
Workforce Streamlining: Adjusting staffing levels and roles to align with strategic priorities while maintaining productivity
Digital Transformation: Implementing advanced analytics, automation, and digital tools across supply chain, procurement, financial reporting, and planning to reduce costs and improve decision-making
Portfolio Optimization: Divesting non-strategic assets and focusing on high-value, low-cost-of-supply projects to maximize returns
Financial Impact and Targets
Since 2019, ExxonMobil has achieved cumulative structural cost savings of approximately $15.6 billion, with management targeting $20 billion by 2030
These savings contribute to:
Higher earnings and cash flow: Projected growth of $25 billion in earnings and $35 billion in cash flow from 2024 to 2030 without increasing capital spending
Shareholder returns: Supporting a stable dividend policy and ongoing share repurchase programs
Resilience: Maintaining profitability and investment capacity even during commodity price fluctuations
Outlook
ExxonMobil continues to expand its structural cost-saving initiatives, targeting additional reductions through consolidation of value chains, centralization of key activities, and further digital and operational improvements
These measures are integral to the company’s long-term strategy to remain competitive, fund growth, and support the energy transition while delivering consistent shareholder value.
This is the American way.
The PIP system destroys lives, families, and the culture of EM workforce.
Imagine doing a great job then being told that you are NSI because your boss is intimidated by your knowledgeable discussions about your work scope. Fire the knowledgeable guy and keep the boss with the knowledge gap and communication inability!
EM is off the rails.
“ONLY” PIPs? Do you have any idea how many people lose their jobs because of these “only” PIPs every year? It’s much worse than tech layoffs , at least those people get severance.
PIPoffs.
@c5 they keep changing the number to PIP more people
In short, yes is your answer
I thought there was a number they are getting to in 2030?
Started during COVID when companies didn’t want to expose the layoffs numbers and PIP was a great instrument to carry out vicious executive plan. XOM was the best at this, and managers told us at that time that this plan was called the operation “Bare Bones” 🦴 .
They use PIPs so they don’t have to admit they are offshoring jobs to India and so they don’t have to pay severance.