With all the cuts in Europe where the company is already running lean, I would not be surprised if they laid off a significant amount of employees out of campus. There is so much experience (and insanely high cost employees) there, it's hard to see the company overlook this location.
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Comments like these about XTO just show how lacking employees are in financial literacy. Or maybe just lazy to believe the complaining rather than look at the numbers. I’d also add there is a big difference between the old way of running XTO operations and what ExxonMobil has done in the Delaware. I’d be willing to guess which one is making a better ROCE.
@pvq+17jQtmni - that's the whole point, numb-nuts ! This forum empowers people to post true feelings and honest facts. The company Yammer forum is just for self-promoting BS and propaganda.
What are you smoking? XTO was bought up before the low price environment.
Not likely. XTO actually knew how to run in a low price environment. We didn't need Exxon's money until Exxon imposed a high cost operating structure on us.
And if XTO was on its own, it would have declared bankruptcy in this market. Papa exxon is helping you out right now.
GFY. XTO was a great company to work for before you Exxon f—s ruined it.
Judging by recently announced cuts to Europe, this 40% number seems low..
I could only assume these cuts are going to come from either global projects (55% reduction in europe), EMIT (72% reduction in Europe), GREF.
why all the talk about Houston? where is the sand oil? Canadians are dragging this company down. They are not making money and we all know the whole country is a regret investment decision by Dallas. Same goes to XTO, we bought it at all time high and we are not recovering our investment. We would sitting on lots of cash if were not for these 2 bad investment decisions.
To those downvoting my comment on target and plan. Wait and see. Don’t say you weren’t warned.
ExxonMobil had a bad reputation before this downturn, now that they are treating their employees like garbage it's totally ruined. Make sure you trash talk the crooks who run this place after you leave so no more fools are tricked into working here.
I am a supervisor. We are working org charts with 40% target for layoffs with BTC engineers replacing those we fire.
Is it a surprise if everyone knows it's coming?
Looking at the breakdowns across Europe the US is in for a surprise
https://ibb.co/gRr2RNc
Suddenly org charts are making a come back and they’re being created by those d*** Admins that don’t have anything to do...HA! You must have a real winner of an Admin for you to think they don’t work hard and know a thing or two about Confidentiality!! Those org charts are so that suddenly EVERYONE’S name is “visible” and open for discussion. What a great target board!
Just was in another company forum and no additional information on layoffs or packages. I am beginning to realize that those getting laid off will not be getting much compensation. Management likes to tell you good news if it is possible. There is no mention of caring for the laid off employee or fair compensation package or comparable industry packages, medical coverage.....nothing. Sometimes this company has no common sense. They spend all this money on a favorable reputation for the “license to operate” and they will be sending thousands of employees away wanting to trash the company. Maybe management thinks no matter what they do they will get the same response.
I retired from EM after 36 yrs of service. I went through 6 lay off cycles during the 80’s and 90’s. It’s ironic that I’m hearing the same complaints now as I did 36 yrs ago. I would agree that you are now paying for the terrible investment decisions that occurred on Rex Tillersons watch. The campus is one of those bad decisions!
My prediction -
Impacted execs will be given golden parachutes.
Managers and supervisors will be given a generous severance for having fulfilled their “prison guard” duty.
Worker bees, who actually get things done will be unceremoniously kicked to the curb with limited severance.
The most vulnerable will get hit the hardest. We are ExxonMobil!
Nope! Wrong! no severance. Darren Woods will just PIP the boo boo out of you! Enjoy colleagues! We are ExxonMobil! In this together! Conserve cash for the company..
Having worked in the US and campus for 5 years I can only say people there are significantly overpaid vs European employees (I was UK based). New hires in particular are paid far more than their actual worth, and it's all about potential and ability to attract etc. However there are many level 28+ at the campus who are earning very big bucks (many dual income couples too). The company is clearly in trouble so needs to do something. An across the board pay cut would have been a much smarter move by EM. Many of the higher earners wouldn't even miss a beat if they dropped 15-20%. Maybe would have to downsize their yacht ...but no big deal. Hit the higher earners first/hardest and graduate the cuts as you move down the ranks. Maybe a "socialist" option but would have left the company in better shape, and with some kind of future. Maybe too much of an integrity option for EM!
Why only Houston? One organization that has extremely worthless and blo0d s—in employees from researchers to section heads to VP is Corporate Strategic Research in New Jersey. This organization has produced nothing except using EM money to associate their names with some outside people who actually accomplish things. All it has done is drained company money for frivolous activities and false propaganda in social media and media outlets.
What kind of Division Manager is that who gets mad if you don’t engage with his Yammer posts?
@ufp+17jQtmni - I assure that this yammer problem is widespread on Houston Campus. Out division head posts c-ap on yammer and gets worked up if people don’t engage with his posts. In his twisted mind he thinks he is using Yammer to build a department culture.
What a clueless loser!
OP: Not a good title there. Maybe for a Swedish filmaker ok.
The yammer comments below are Spam.
Likely a single slice of the delectable saltpork doing them all based on the timing.
(And he's soaked in tequila.)
Making fun of people like you
To all you Yammer haters. What in the hell do you think you are doing on this board? Same thing just being truthful about how you feel.
I am not kidding, our leadership asked us to go register ourselves in Yammer And be “active”. Our chief has signature with links to his Yammer, Blog, and portal. They force us to post something. In fact they even put that being active participant in Yammer is needed to achieve higher Skill levels. I have two guys who do nothing but brown nose on Yammer. I know they do nothing concrete. But that’s what is rewarded these days. Posting on Yammer. Our company is going down the drain because we get the behavior we reward.
@btn+17jQtmni I had a manager that would get upset if we didn’t respond to yammer posts fast enough or he would tag us in them...I never liked using it, or how much people complained on there...those damn admins need to get more work done and quit b–chin....
With all the time spent on yammer those people can get picked up by Facebook and Twitter.
That would be awesome if they started pulling names off yammer and started canning people by number of posts hahah
@mbg+17jQtmni Exactly what United Airlines just did recently. Build a new org chart and put names in them. Anyone not in it were fired.
There are also a bunch of useless people that work at the Houston campus. Don't forget about that! It's time to trim the fat!!!!
I wonder if we can have a hunger games style battle out in the common area each building vs one another hahah. E3 vs N2 ect. Loser goes home.
“Let the games begin”!!!!!
They are looking at what skills they need for projects in the company plan. Building org charts for those projects and will lay-off everyone Who isn’t on a chart. Like a game of musical chairs with only chairs for half the people. The music is about to stop.
You are 100% correct. Absolutely the worst possible place to be right now.