In case you didn't read the WSJ article, here's one paragraph that, to me, summarizes what you really need to know:
..."In the U.S., oil companies have shifted their business strategies from focusing on pumping as much oil and gas as they can to sending most of their incoming cash to shareholders and paying off debt, which has reduced their need for labor."...
This is exactly what EM is doing and why EM doesn't need you anymore.
And this is exactly why you need to leave.
Don't forget the PAC money.
Twice what is spent on SHE.
@1dyk+1jzJdSlH Exxon isn’t making shareholders “richer”, it’s making them whole.
Exxon stock has been a k no one’s loser for over a decade.
They are paying debt, compensating those who stuck with the loser stock, and paying themselves -executives- in RSUs and bonuses.
Agree.
With Oil Prices in the hundreds and with the priority being making the shareholders richer, then there is no need for any fancy engineering.
You guys are irrelevant and redundant in the eyes of management BY DESIGN.
I understand if you stay in EM accepting this reality.
But if you stay in EM hoping that things will get better and that management cares about you, you are being delusional.
I also feel bad for those who stuck around. I feel so lucky that that terrible company let me go in the second round of layoffs, which was the SPOSA after the first PIP layoff in 2020 (many more PIP layoffs to come, YAY).
I got out early and am with a great company. I have remote work, but my own dedicated workstation for when I do come into the office. I get paid well. I am very appreciated by my bosses. I was just promoted last month into a supervisory position. Life is good. So glad to be out of that toxic cesspool.
Let me take a moment to exclaim:
THANK GOD I’M OUT OF THAT PLACE!!!
Now, for those still there, clinging to the hope that things will get better. News flash: THEY WON’T GET BETTER! THEY WILL GET WORSE!
With the impending recession, you might have missed your chance to jump ship and be at a new company long enough to be recognized as a top performer. Perhaps all you can do now is wait for them to ship your job overseas after which you will be promptly fired.
Or. Maybe. Just maybe. You can grow a brain and a pair and get the heck outta that $hit h@le.
Good luck. There is life after the company. And it is a good life.
I feel bad for those sticking around. By the time they start their job hunt EM will be a sinking ship and the name will no longer carry any prestige on their resume. It may even tarnish it. Plus they’ll all be competing against one another.