Thread regarding ExxonMobil Corp. layoffs

“ Exxon is a toxic company, both literally and culturally”

• chevron board

I hope Chevron is not that stupid

@1mvr SIMILAR CULTURE!? Are you out of your mind? Chevron and Exxon have OPPOSITE cultures.

I wish

This definitely ain't going to fly by fed. Smaller O&G's will belly up and will be unable to compete: COP, Marathon, Valero, etc. Like one of the comments below, the news is just a stunt to boost the stock price.

Its bewildering how some get excited by the prospects of the Merger quoting Synergies, diversified portfolios, project management systems or whatever other BS. As If y'all on layoff.com are in the upper echelons of the corporate ladder to benefit from all this. :D

All of us are more stupid now after the comment by @1gte+19bBSmEa

Bloomberg suggested to call the new company "Stranded Oil", from the once famous Standard Oil where these two came from.

Thanks, I don't have any other news source.

It is official. The company will be called M-O-R-O-N

In my opinion, this is a stunt right before 4th quarter reporting for ExxonMobil to impact the stock price. If the Biden Administration is willing to approve this merger, it will come with major concessions towards climate change initiatives. On the other hand, ExxonMobil and Chevron are good at optimization and this would take them a few years to get to a stronger single company. This will enable them to compete with large "state controlled" companies.

Here is what Chevron's layoff discussion board has to say about this:

@OP+19bjT391

or

thelayoff.com/t/19bjT391

Just call it chevron if it materialise

This would seem be brilliant merger. The redundancies and synergies from a merger would eliminate 50 percent of the combined companies positions in IT, Research, and Drilling organizations if done right; and capture the best in class knowledge from both organizations. The only thing perhaps even better would to be combine it with a 3 way merger with Schlumberger or Halliburton in the service sector to truly create a new upstream business model. Even probably more opportunity space to grab if you think further about GE or Caterpillar or other entities. Maybe this way many within the oil and gas community can avoid a Kodak or Blackberry moment that seems to be coming in the next few years.

Would employees from both sides want this? I guess not. Because they are not sure who to keep. I know both companies have similar culture and processes and systems. Elimination of the duplicated employee will be brutal. This is corporate greed.

All just a shadow of the real discussions.
Rosneft - the real Standard Oil.
Aramco - all the crown jewels.

These are the negotiators at the table.
Won't be Spring's 'Putin Square' or Billings' falafel cafeteria.
But that's on the PR folks to figure.

The merger talks are indication that there is NEED for more cost reduction and the quickest and easiest is my MERGER. When Exxon and Mobil merged there were over 120,000 combined employees, and within 5 years headcount was below 90,000. Chopped alot of headcount. There is more efficiency gains and cost reduction needed. The PRESSURE for cost cuts is still very high. CVX retirement plan is much WORSE than XOM. but the savings plan is better. but variable pay can reduce compensation by up to 15% in bad years (XOM only cut 7% match)

If you guys think working at XOM is a drag, wait until you get a load of what it’s like at CVX

chevron reached out to wsb guys to get all of their followers to short exxon stock so they can buy the company on the cheap

Yep... An article in the WSJ (link below) :

https://www.wsj.com/articles/exxon-chevron-ceos-discussed-merger-11612126203

After the Exxon and Mobil merger in 1999, both spin offs of the dismantled Standard Oil, an ExxonMobil / Chevron (formerly known as SOCAL, Standard Oil of California) would a step further to the reinstatement of good old Uncle Rockefeller’s trust.
What do you think in the US ? Any credibility in this rumor?