The best way to see this is to visit several of our competitors on this forum (there are links near the top of the page for some of them.) It might surprise you how similar the topics are and if you actually read a few of them, you'll see that pretty much everybody is in the exact same shape as we are.
So basically, this is not an Exxon issue because of the evil/stupid/incompetent/whatever leadership. It's just the economy. No more, no less.
Shell employee here. As much as I like to hate on our management, the severance is still decent in 2020, 3 weeks per year, 12 weeks minimum. No PIP BS.
Funny story, an xom manager was hired a few years ago, and immediately tried to put 2 people on PIP. No PIPs occurred, but the arrogance of it all is unimaginable. Zero interest in Shell culture, xom way all the way.
Wow if this op is in management that is scary and feel sorry for the folks that report to him
Whoa just for a second my friends.
Agree with most of the most plus reactive posts below.
Very true that the 'way' it was done was most egg-greedy-us (never took latin).
Slanderous. Unjust. Decimating. just plain unfair.
But - remember my firends - this fine company CREATED the O&G industry.
This company - ExxonMobil, EXXon, Mobil, Esso Ltd./SA/AS/NAS, Standard Oil of New Jersey - was in the beginning and begetting of O&G. The BEGINNING.
And now, you proclaim we are beggars. The ENDING. All of us in this thriving industry.
Shame on you!
@als, your thoughts on Chevron may prove true, but it still isn't contracting like the Tiger (Exxon)!
Chevron isn't the only company out there. Also, by the end of all this, chevron will be 50% smaller than it was last year.
Chevron: 9/80's
ExxonMobil: F–k you.
Chevron: 401k 8% match for 2% contribution
ExxonMobil: Our compensation remains competitive.
Chevron: Got paid $1 billion by Oxy to not purchase Anadarko.
ExxonMobil: Paid almost $1 billion for a single block in Brazil.
Chevron: CEO rated 88% on Glassdoor.
ExxonMobil: CEO has a lower approval rating than Donald Trump.
Chevron also looks to be gearing up to let go of more management.
The company’s financial performance could be largely attributed to global events. The focus of this site (in case anyone forgets its thelayoff.com) could be largely attributed to poor management and lack of transparency.
We only lack ethics more than the others.
@zfc+16SWQVgX chevron just let go many more workers for comparison.
The OP (@OP) has GOT to be a senior manager or executive - surely! Only a manager (currently still employed by EM) could be so clueless, so out of touch with the sentiments running through this forum and (apparently) through the EM organization.
Of course (as others have said) this has nothing to do with job losses and layoffs per se - it's the way that EM executives (as least down as far as VP level) handled things. There was an EMRE President's Forum just 2 days before the first Bloomberg article published, predicting a 10% reduction in the EM workforce. At that forum, there were a few incidents that particularly disgusted me:
2, When asked directly about the possibility of staff reductions and layoffs, "D.T." recited the company line of "we have nb plans for layoffs." Remember, this was just 2 days before Bloomberg article published and we now know that plans for staff reductions (through PIP) were already well established.
As a further example of how senior managers are completely oblivious to the mood and moral of the general employee population, at another forum (at week or two later), our own VP expressed his disgust at the tone of the Slido questions asked at the President's Forum, saying that they were rude and destructive. Well, d'uh! What did you expect?
Yes but we are supposed to be way, way better, because we are us! wear exxonmobil! As many have mentioned it is the gap between the (self) perception and reality that is the problem here: the hypocrisy. The amount of self-deception is astounding. I don't know whether they are doing it consciously, or they are high on their own supply, and, frankly, which is worse.
Glassdoor:
XOM: 3.2/5
CVX: 4.0/5
CEO approval rating:
XOM: 45%
CVX: 88%
Nice job Darren.
Dow component:
XOM—No
CVX—Yes
YTD share price performance:
XOM –46%
CVX –33%
401k matching:
XOM—No
CVX—Yes
Ah yes, we are doing no worse than anyone else!
Puhleeeez. Exxon is the only one that went about it in a shady way. All their BS about how they value their employees and then they showed their true colors - slander the employees to disguise and lie about layoffs.
as pointed out in the earlier posts, a large part of anger on these threads stem not from the fact that there were layoffs but rather HOW the layoffs were executed.
for a company that prides itself on integrity, it has been utterly disappointing to see the way top managers (very senior execs, apparently CL 27-29s are all clueless) and HR have tried to disguise the layoffs as a performance issue to save a few pennies (relative to the dividends that we have chosen to maintain). the lengths that the company has gone to put on this masquerade is nauseating.
contrast this to BP whose CEO came out very early on and openly told all BP staff what was going to happen, why it was happening, and what they can expect. BP employees were given a proper package and even allowed to keep their laptops for gods sake! most importantly, BP employees were given a CHOICE at the start through a voluntary redundancy program. they allowed their employees to preserve their integrity! same story with Shell from what i've heard
so again... how are we "the same"?
It's not really the issue that there are layoffs that irked me. Yes, I know that other O&G companies are also laying off. It's how EM went about deceptively reducing headcount. It shows a real lack of transparency and on top of that, we see EM management making really poor investment decisions, keeping dividend, all while trying to save company face saying "there are no layoffs, it's a performance related decision". The other O&G companies at least had the decency to admit they're laying off people.
All that combined does not bode well for the future of EM...and that is down to management.
No, we all have friends and family in o&g. Yes, the layoffs are happening everywhere and it’s painful to see. No other company that I know of said just 2 months ago “ we have no layoff plans” while they were getting rid of 10% of the workforce through PIP and PIL. And again now, Exxon should just come out like the other companies and say - we are targeting approximately 20% more of the workforce by the end of the year or whatever the approximate target is. Instead we are doing “ a work study” and nobody internal or external will know what’s going on while people will be getting laid off by the thousands. Transparency is leadership and we are not being transparent at all with anybody internal or external. Exxon is shady during an unprecedented time, and has been super shady about transparent and communication the last 10 years - the rest of the world is a little more transparent, the outcomes for workforce reductions are the same but the methods of doing it do matter.