Had XOM been up front about this months ago and followed suit like every other O&G company then it would probably be in a better position today. They would also be in a better position as far as company morale goes if they would have just performed a quick 20% cut in June/July complete with full severances and voluntary packages for everyone (including non-retirement eligible). Instead they've delayed write offs trying ignore the inevitable and they've led the workforce through a complete sh!tshow with shady PIPs and now a patchwork layoff plan that has everyone scratching their heads. The look ahead after all of this is said and done is a workforce and an investor community that is at odds with leadership of the corp. What a complete embarrassment this has been from the folks in Dallas. They really could not have botched this up any more than they have already.
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Sadly, I don't care much for this employee. Hope the poster is let go in this layoff for being a d–k. Not even intelligent enough to realize everyone has their own problems and concerns. Not everyone retirement eligible has worked for this company for 30+ years walking away with a hefty lump Doereally hope at some point in this person's career that the majority of people you work with try to push you out the door unexpectedly.
I really can't bring myself to care about the "retirement eligible folks that don’t take the voluntary package". They've milked the cow long enough. You get what you get and you don't get upset. Sadly, not enough of them will leave and well carry them on our backs for quite a bit longer.
I’ve been wondering what might happen to the retirement eligible folks that don’t take the voluntary package. How far into 2021 will they get before being involuntary separated and will they get any severance when they are?
MLRP is next (early 2021)and it’s going to be brutal! Get out while you can.
Company of Robots and id–ts
They call it a workforce reduction in 3Q earnings call. Layoff has a very specific legal meaning under WARN and under union contracts, so it is not used for voluntary and involuntary actions focussed on low performers. Workforce is also broadly defined as combined contractor and employee. It is not a layoff, it is workforce reduction.
It’s not being called a lay-off. Go to the HR website. The number 1 link is something called “VIP”. Hmm that sounds neat and happy let me click on that. OH THATS RIGHT IVE BEEN RICKROLLED BY XOM HR. Its not a lay-off It’s just a “Voluntary and Involuntary Program”. Hahaha these guys are clowns. I pity the fools who stay.
Pretty good summary. I know I will sleep well tonight knowing that salaried supervisors and managers in the US are worried for their jobs.
I say this because hopefully it makes everyone see what I and the rest of those that passed the PIP have been through for the past 3 months. I passed the first round and figure I’m gone in this layoff round but at least this time it’s being called a layoff and I’ll get more severance and that lump sum from the pension.
This isn’t fun for anyone and hopefully next time the MLRP comes up managers and supervisors push back or have more compassion for those on it.