There is ALWAYS a PIP process. The question is is it 3% or is it a higher percentage like this year and probably next year. That percentage is based on business needs, business climate and competition for talent.
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This CEO is a lying sack of sh–. They are forcing people out who have 20 years with the company who are disabled, but not retirement eligible. These employees will lose their medical insurance ASAP, will not be able to draw their pension for years, and likely will not be employable because disabled. They are breaking the law and they figure they can get away with it because the economy is tanking. It was in the plans since April and the CEO says in May no layoffs. F—ing liar. And yet his compensation and other executive compensation did not decrease. I feel sorry for the loyal, hard working employees who are getting tagged for the botton 8% without any clue in advance.
@2peg Stop being a troll, go back to work and continue drinking the kool-aid
@SpouseThatHears
Spoken like true exxonmobil employee, our your a–...
Once it’s determined how many NSI’s opt out, then they will determine how to tailor (by age, PSW and possibly business teams) early retirement package offers based on the need to meet reduction goals.. Timeline is targeted for no later than end of 3rd Qtr. This date is also convenient as many retirement eligible will already have committed by then to 4th Qtr retirement dates as interest rates are more favorable for lump sums than ever before. Thus, the company will not have to pay them “packages. (Also a reason this is being kept extremely “hush-hush”, outside of Dallas HR)
Managers and supervisors are in the next wave.
Hmmm i thought only based on performance assessment as of now, the company has already took great measures thus far to cut expenses and head count
I heard August might be the next big one, I wanted to see if anybody else heard anything about it.