Thread regarding ExxonMobil Corp. layoffs

The same story playing out over and over

I totally get that frustration—it’s like the same story playing out over and over. Quarter after quarter, year after year, EM profits go up, but all that money ends up in the pockets of the CEO and shareholders while the employees are left to deal with stagnation. It’s like the “Great Divide” where the ones actually doing the work get the short end of the stick. Promotions get slowed down, increments freeze, and if you're unlucky enough to be on the receiving end of a PIP (Performance Improvement Plan), it’s just the cherry on top of an already sour cake.

The cycle of increasing profits without corresponding rewards for the workforce can make employees feel like expendable pawns. It’s almost like they’re banking on the loyalty of people who hope their hard work will eventually be rewarded, but that hope keeps getting crushed over and over.

And you’re spot on—no matter how much the company makes, it feels like there’s always a reason to squeeze the employees more, to justify taking away benefits or slowing down growth opportunities. It’s frustrating, especially when it’s so clear that the numbers are climbing but you’re still fighting for scraps.

Do you think things could ever change for the better, or is it just a case of “grin and bear it” until something else comes along?

Bumping this from @7psx+16zEvLP3, well said.

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| 3014 views | | 14 replies (last ) | Reply
Post ID: @OP+1jxjjf538

14 replies (most recent on top)

Sh1t company for stocks. Sh1ttier company to work for. Take your pick or F both.

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Post ID: @1b0+1jxjjf538

@a1 I have some that I will gladly sell!! It’s not even a good dividend stock

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Post ID: @mf+1jxjjf538

The point about market based salaries is total bs. The companies are colluding through their salary surveys. It’s a race to the bottom.

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Post ID: @em+1jxjjf538

Salary is based on market for that particular set of skills. If there are many who can offer the skill for less, companies will compensate the person less. You are just one of the cogs.

Oil and gas is a hundred year old industry. If you want to be paid more, improve your skills and/or work in a different industry.

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Post ID: @ec+1jxjjf538

I think what he is talking about is the compensation package given to those at the top. Those at the top and certain individuals are rewarded for outcomes. One of the outcomes is to squeeze as much as efficiency or work from the work force. Just think about it, most of us are barely getting salary increases that keeps up with inflation.

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Post ID: @dp+1jxjjf538

As one employee stated four decades ago, "It is better to be a stockholder than an employee. Stockholders are treated much better than an employee."

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Post ID: @dc+1jxjjf538

https://www.sciencedirect.com/science/article/abs/pii/S0022103122001615

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Post ID: @d9+1jxjjf538

@am+1jxjjf538 You have no idea what you are talking about. Who are the owners PROVIDING CAPITAL to the company? Do you understand how publicly traded companies work?

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Post ID: @b5+1jxjjf538

Comments below about capital returns are valid but missing the point of OP. The post really hits home on my feeling these past few years, whether company made tons of profit or not doing so great, employees just keep getting squeezed and left to fight for scraps. Benefits reduction, relocation reduction, less upward mobility, and list goes on.

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Post ID: @ar+1jxjjf538

The owners of the company need to be paid first. Employees provide a service, and if the service is over-priced or unproductive or if business needs change, then there are consequences.

Capital provided by the owners of the company is also rewarded with capital gains or dividends.

If you want more of the profit, use your money (capital) to buy stock and you will be rewarded as an employee and a shareholder.

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Post ID: @am+1jxjjf538

The OP point is unrelated to the stock price, which isn't even great and the dividend yield is also weak.

The point is the employment benefits, prospects, share of the company return and so on decline each year with no tick upwards.

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Post ID: @a4+1jxjjf538

@a1 ask your financial advisor about buying EM stock

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Post ID: @a3+1jxjjf538

@OP I feel so sorry for you. But you have options, if you can’t handle it, leave your badge at the gate.

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Post ID: @a2+1jxjjf538

Buy some EM stock, if that makes you feel better.

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Post ID: @a1+1jxjjf538

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