Thread regarding ExxonMobil Corp. layoffs

I'm not ready to stop working, but am ready to retire from ExMo.

I was put on PIP for "not being in a position that was competitive at my CL".

I passed the PIP.

I'm going to take the voluntary. They can screw with someone else.

I would have taken a voluntary package that would have gotten me to full retirement (just a couple of years). I would have probably taken a package with 2 to 3 weeks of pay per year of service with a year max. That would have been the minimum for major oil companies. But they did not offer that. Most near retirement that I know would have taken the voluntary if they just added to their age (1,2 or 3) years.

In reality, management wanted to control who left. It appears they don’t feel the mid level folks have enough of the right experience to take over. PowerPoint doesn’t count I guess.

@chy+17HS9qRi

Incorrect. Goto/usprogram clearly states that NDE (age 52+) is NOT in scope for the involuntary program. Why would exxon get rid of these individuals when they are going to be likely retiring in the next few years anyway. These people are already a part of the attrition to reduce headcount.

It is in the best interest of the company for the long term to get rid of early to mid career employees that would be working to 2030+. That is what the involuntary program is targeting. Likely the voluntary program is just a PR stunt to say that we offered.

There are many trolls or ignorant posters here. Anybody that makes it to Jan 1 has the vacation. So nothing there. You can pretend to work until April and get the same pay, plus 4 more months of service. Stop spread stupidity!

There are many trolls or ignorant posters here. Anybody that makes it to Jan 1 has the vacation. So nothing there. You can pretend to work until April and get the same pay, plus 4 more months of service. Stop spread stupidity!

The lump sum interest rates are so low right now this is the best time to take your pension even if you’re 55 because they will only go up from here and let’s say you work until you’re 59, and a few ticks in the interest rate going up could wipe out the gains you thought you were going to make working longer.

The voluntary plan makes sense ONLY for people over 60, who were anyway tempted to retire due to low interest rates. Anybody in the 55-60 age bracket would not get full pension. The worst alternative is the PIP in the summer of 2021, but if it’s done as in 2020 that means getting paid until the end of November (3 months from the PIP plus one month or more vacation). Not only that’s more months of pay, but also means one more year of service, one year closer to 60, and a higher average salary over the last three years, all influencing the pension amount. On top of that, for people doing technical work, it might just be possible that the company (or more likely some hired consultant) has noticed that after years of encouraging attrition at any cost, there are very few experienced technical people left, so blindly pushing anybody into retirement might be a bad idea. The latter idea is arguable, but definitely possible.

The MLRP program incorporated retirement eligible people and excluded the near retirement eligible people (52-55); why would this program of layoffs be different?

Please stop posting fake information here. It is confirmed that employees over 52 are NOT “in the scope of the involuntary plan”, which means that they are not targeted by the involuntary personnel reductions, not that they can be laid off without the severance payment.

Just consider what is the worst thing that can happen if you do take it versus what is the worst thing that can happen if you stay. Balance the pros and cons and you’ll probably see that there are more pros than cons because say for instance you’re 55, you can still earn an income somewhere else while you are receiving your pension distribution and with the four months of pay plus any vacation carried over into 2021, +2021 vacation paid you will end up with a lump sum of money that will provide a nice security blanket and supplement your pension distribution along the way.

Definitely going, four months of salary with many weeks of vacation paid is a nice chunk of money then start pension payments plus still have Company savings. Can always get another job doing something to earn more income, no brainer.

In the alternate, if you are offered a voluntary program but choose to stay and then get cut, you are screwed.

A bird in the hand is worth more than two in the bush. I’m definitely taking this opportunity and starting a new chapter in life that begins with freedom

Got clarification from HR on Friday that retirement eligible individuals will be considered for layoffs but won’t get the Severance allowance. No concern with age discrimination lawsuits since it will be a lay-off and they will be entitled to retirement benefits.