Thread regarding ExxonMobil Corp. layoffs

@5mpm+18NBTZGx - you sir, are a mo–n

CVX is beyond the disbelief and anger stage, as they have been going thru this for several years. ExxonMobil just started. Disbelief and anger are the initial stages before moving on to acceptance.

Chevron was hurting BADLY in 2015 when oil dropped to $50 from $100. The Gorgon and Wheatstone spend were peaking and they borrowed $1 BN per month. After that they cooled off on mega projects except Tengiz and went to more Permian short cycle. With all that being said they got massively lucky when Oxy outbid them for Anadarko. It would have been another XTO and they would be crushed by wall st. had it gone through. So CVX is not more disciplined it is just a factor of timing and luck. Their CEO is just as easily fooled by shiny new wells with promises of 20% IRR.

OP just graduated middle school.

My dad is better than yours because, well, just because.

He/she will learn when they move on to high school that they are the same.

Heart=Broken.

CVX cut alot of people in in 2016 and more this year. Percentage wise CVX layoffs were deeper than XOM in the 2016 to 2021 period. XOM should have cut in 2016 and slowed hiring in 2016 to 2018 and the cuts experienced would have been much smaller. Similarly CAPEX was too high in 2018 and 2019, it should have been 20% lower, project teams would have been smaller and layoffs much lower. Fiscal Discipline and quality projects was XOM strength before 2010, it needs to return.

Chvevroid here. The idea that you got to interview for your job was a farce to avoid lawsuits. In reality managers 1 level up made their choices before on 90% of jobs. Each job selection took 5 minutes (not a typo) including introducing the job, going over your preffered candidate and why they were chosen over the other candidates.

With all that said, generally people got similar roles. However, some people got shafted because their "selection rep" (aka employee advocate) was clueless. I saw good people get laid off because of this. However still better than the fake PIP that XOM pulled.

Yet, you list the exact reasons WHY there is more anger amongst XOM employees than with CVX employees. Smh.

@1wyz+18NBTZGx

You are right. There is no pandemic and energy demand and oil prices are at all time highs. EM is bursting at the seams with global opportunities and free cash flow. Shareholders have voluntarily suspended the dividend because the company has provided them with such an outstanding increase in stock value and overall returns over the last decade. Capex levels will increase 50% annually every year so more and more workers will be needed. High demand for workers in the industry will result in unbelievably large increases in salaries and ensure jobs for life. Despite inept management and worthless boomers, the company will thrive due to the wisdom and experience of workers with less than 10 years because of their infinite knowledge of the business world. All governance and processes have been suspended. Surprisingly, the culture has dramatically improved with more hate filled rhetoric becoming the norm. EM has been officially declared a safe space for those eligible for such protections. This is your time and your world. You deserve these riches because, well, you say so.

Happy now?

@vsk you are correct. EM has a blame the employee mentality like blame the victim. We decide first which bucket to slam people in and then blame them using any nugget from feedback regardless of magnitude. Then we smugly walk away and report to Sr Mgt their bidding is complete.

D: @oqq+18NBTZGx Grow up. After what Exxon did to a lot of their people this year you are disgusting for even coming here to make such ridiculous comments. You must be a Manager. And if you took the time to go to other boards before making such generalized statements you might be more educated about the subject you are on because I’ve seen quite a few boards far worse than Exxon. Exxon Management has been a problem for years. You are disgusting despicable bullies and yes now employees are fed up because it is clear the years of abuse they tolerated still didn’t save a lot of their jobs.

D: @xox+18NBTZGx LOL there’s a LOT of bitter people at arc on and for very good reason.

ExxonMobil won’t go under. They just won’t be what they were or worth what they were.

Only a fool believes exxonmobil is "going under."

tyb+18NBTZGx It shows their ignorance and no wonder this company is going under. Their accumulating debt but somehow find a way to pay themselves big bonuses.

Chevron‘a CEO is far superior to come new CEO.

Didn’t take long did it?

@oqq+18NBTZGx

So you're blaming the employees for the shortcomings of the company? Who's group do you manage? How far is your nose up Darren's a– to get you to where you are?

• DW is that you?

There is much to legitimately complain about at EM, but having worked with practically all of the major oil companies over the years, they all share many of the same issues and shortcomings. It’s called Corporate America, and it too is evolving with societal changes. Look a little harder at the other company boards and you will see a lot of similar complaints.

But, even though the issues are similar, the EM board is by far the most disgusting. And that is not the fault of EM management, it lies at the feet of those on this forum who endlessly attack, blame and ridicule practically every post, even those in which people try to be helpful. Many are laced with profanity and directed at fellow employees.

Yes, EM management has made many mistakes, but the employees and trolls on this forum have to accept responsibility for their own uncivil and divisive posts. You own your words regardless of the issue. If this forum was cleaner and more civil, it could actually help people, buy as the number of posts have plummeted indicates, most have given up coming here because of the content.

Can’t blame anyone else for that.

At least the CVX people had the opportunity to speak for themselves to retain their jobs, instead of people 3 - 4 levels up that don’t know squat about their people. From what I heard the CVX people reinterviewed for their jobs (or other ones they would like to have).

More XOM mindset believing “we’re different”. All of the Majors have similar messages on their boards with a little variation based on their own culture. We are special, just like everybody else.

DW remaining as the CEO shows that EM is unable to change bad individuals especially in management roles.. (shout out to Chemicals S&OP!).. honestly.. pretty bad ones remained here for decades! Creating busy work.. I’m playing the game well.. remember.. keep your friends close and enemies closer!

While I agree that other companies are more collaborative to laid off employees, many people from exxonmobil come here to vent. Unable to do it publicly for fear of being moved to the bottom of the ranking group now with the sudden removal of protections this last cycle.

Just to point out how disgusting this company has become, a large quantity of RSU and bonuses were awarded JUST after all the layoffs were announced to all employees. RSU was given out even though the company took on massive debt to continue operations, is in the red for even being profitable this year, and the unsustainable dividend is not being cut to prop up the ego of our incompetent CEO. CEOs and upper executives with morals and compassion were taking pay cuts in many other sectors of the economy to help out their workers.

We have Darren Woods.. what do you think.. if he was there.. they will have the angry forum

You didn’t look very hard if you didn’t see complaints about their CEO, because there are many. Furthermore, the board is full of complaints about the company and the way it operates, including the woke bs coming from executive ranks.

@etz
You and OP have nailed it. I'm monitoring all the OG boards as part of school project.

Maybe it is a cultural thing. That is hard to figure.
Could be that only bitter people at EM know about this Layoff board.
Or the others learned to avoid collaboration.

I've found the CVX forum to be more about consultation on navigating the Layoff experience.
That is, a supportive and informative crowd.

EM forum on the other hand - bitter and mostly irrelevant to the tasks at hand for those laid off or fearing a layoff.

I think that reflects the daily culture in these companies for those that are still employed.
What a horror show for the EM folks. Ugly.