Latest rumor is we’ll hear a big announcement on November 1, I guess to be expected with the 60 day WARN act requirement. I was checking some executive level calendars in F&L, does appear many of them are in the same significantly long meetings next week... anyone know of more details as to what is going on?
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My guess is at least 15% in Houston. I believe there will be a voluntary program rolled out first with some small incentives. This is to get the old timers and others that want to leave out the door. This will allow them to determine the head count remaining and they will make more cuts then. Nov 1 for the voluntary phase sounds right. Just a guess.
Nope. No announcement today
@2ojr Reduction in Force
What’s RIF?
Rumor - 30% Houston RIF announcement 10/15 for upper levels.
Look folks they did a very large cut of 1700 in Europe and what resulted in a huge cut in Melbourne before the “board meeting” in Nov. the Nov board meeting has no bearing on the riming of announcement. Also, read the WARN act, there is a clear exception for unusual times and we are there. The notification just has to be as soon as practical and can be really short, like two weeks. The notice just has to claim the exception. The board meeting and the WARN act have no real bearing. In Leatherhead they did announce percentages then later actual team numbers and are then notifying people. The corporate announcement could come before Nov 1, at our earnings call or after but we are not likely to kno WHO is getting cut until days, a week or maybe two after the big announcement.
I think they will try to get rid of easy hit redundancies by end of the year.
What a sh– show
Lies. I only got 5%.
I heard you could save 15% on your home and auto insurance by switching to Geico.
So are the rumors about getting people off the books in 2020 or are these layoffs to be completed by next year like Europe and competitors?
I wonder whether significant layoffs will happen in downstream before the HW3/TMTS projects wrap up.
It definitely makes financial sense for the company to get people off the payroll before January 1, but I have also heard that those restructuring projects may take at minimum a couple more more months to determine what the new org structures and roles should look like.
Seems like it would be pretty chaotic if we have large scale headcount cuts without having clear job descriptions for those who are left.
Board meeting only in November, so doubt anything will come Nov 1
I heard something is coming Friday at 11am, codenamed “lunch”
I heard something is coming next week!
HW3 is mainly for campus. TMTS is for the sites.
I need popcorn
Oh my God! Okay, it happening. Everybody stay calm. Stay f—ing calm!
Use the surge of fear and adrenaline to sharpen your decision making.
Baytown phone warriors get ready. All those days sitting and looking at this board while pretending to be busy working are about to catch up to you!
Thursday the 15th?
Check the company announcement website. The HW3 IMPLEMENTATION will start on 11/1. Go figure
Most of the folks here have no real information! They are just guessing.
Somebody leak the details out to the media so we can find out just with all the other big items this year.
Last post typo *is
Mt. WeRXOM gonna burst and out comes lava of despiration, fire of confusion, and ashe of despiration. I feel for my worker colleagues. This isn't the first of many too
There may be some validity to an announcement this Thursday based on the discussions with my manager. Don’t expect anything other than high level percentages.
Yes. I heard the same. Thursday. Massive reductions in EMIT and Global Projects.
US announcement this Thursday.
Nov 1 is a Sunday, but they can still submit it Monday Nov 2 with 60 days notice since there are 31 days in December.
Remember Neil Chapman told the stock analysts that the corporate board of directors (external group of yes men and women) will review (rubber stamp) management’s “study” recommendations in November. That doesn’t seem to line up with an early November communication to employees. We’ll see...
I have been disappointed on how XOM has been handling this. It is one disappointment after another. It is clear transparency is not important to them.
In order to survive you just have to disconnect and not worry about it. You have no control over it. Focus on what you can control. Your finances. Where you work. Your happiness. This is just a job for the majority of us. Don’t make it anything more than that.
Who loses out? It depends on YOUR goals.
Nov 1 is a Sunday.
you can see the calendars but the meetings are marked private. I have been checking also.
Come on, you wouldn’t have access to calendars