https://www.reuters.com/business/energy/exxon-expects-200-mln-charges-this-year-job-cuts-2021-05-05/
From another post but wanted to highlight... After being told repeatedly internally that attrition is a concern and we are right sized.... it takes an external resource to show me the truth of the matter. If you thought 2020 was bad wait for this year to pan out.
Am authentic and down with it. Might be a bit panicky but self aware enough to know when I put a foot in it lol. Honestly been so much negativity in my group for the past year its just nice to get a diff perspective
Op, if you are authentic, your problem is not that you don’t understand oil and gas accounting. Rather, it is that you go running around with your hair on fire screaming about things of which you have no knowledge or understanding. Your reaction, along with lack of maturity and critical thinking skills, are the problem.
EM always said the downsizing was planned to conclude by YE 2022, and they reconfirmed this recently, so yes there will be further downsizing this year. Some groups may already be right sized and some may have lost too many, so expect EM to recalibrate accordingly as to targeted skill sets and performance going forward.
A bit of research and asking competent fellow employees can answer most basic questions. And if you want a successful career at EM or anywhere else, stay away from the haters. They will fill your life with misery. Learn to think for yourself instead of being a woke lemming.
@ard+1aJsSUZ0 I am a pretty new hire and not going to lie this post scared me a bit. You seem to to know about the charges etc. Can u fill me in if the charges are for people already let go or if it implies we will have another PIP cycle. I think new hires are now also eligible. Thank you!!!!
Those seem to be ridiculously low numbers reported by Reuters. Very very low. Where did they get those numbers.
Op, this is the problem with people like you. Immediately assume the worst and start griping. NOTHING has changed from EM’s original announcement almost a year ago. 14,000 employees and contractors will lose their jobs. About 15% of workforce. That is still the plan.
When charges for separations are recorded is dependent on FASB guidelines. Would you rather EM not comply with accounting guidelines?
You rush to post things as if they are big news, when the truth is that you are ignorant and have no idea what you are talking about.
Think that is the charges tied people still being on payroll and the separation payments.