Does anybody what range of CL levels will be ranked together ?
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This is a "baby" cut back. This 5% reduction is nothing compared to 1986 when we had a 30% reduction. Also pre-merger Mobil had a 20% reduction in 1998. This is just a bunch of low performers getting cut, they should have been fired years ago. XOM did very little PIP between 2006 and 2020, and built up alot of low performers. Need to cut 15% over next 2 years, allow 3% retirement attrition, sell fields and refineries. slow hiring, Reduce CLs, reduce Executive headcount. Extend time between promotions. Lower RSU and EBU. FIRE BOTTOM 20% of executives and force the 20 40% rank group int the bottom 20% (They lose RSU and EBU, so that incentivizes early retirement)
CL 20 to 25 in a group, and CL 26, 27 in the other group.
I am SOOOO glad I got out when I did. I can’t imagine how bad the morale is now, it was bad enough 7 years ago when I retired.
I would be willing to bet that the new ranking system is ONLY for this year. The old system wouldn't allow them to shed enough blood. Any takers ?
Depends on your department and varies. Your supervisor can provide that info and in fact it was part of what they Should have communicated.