Based on offers those leaving have received the salary for Permian based employees is not what is driving our cost uncompetitiveness. Big offers coming in from competitors. It is all the costs we get thrown on us for overheads that others don’t have that are k–ling us. Others didn’t cut their employee salaries by 20% and eliminate the match.
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Believe me I am working on it
If you think you are underpaid or working too hard...Hurry up and quit
Anyone can compare the salary between us, dow, lyondell, cp chem, basf....basically the major chem companies?
The biggest lie that XOM employees are fed (and they believe, for some reason, contributing to their arrogance) is that they are better-paid than other companies. They aren’t. Believe me, I know.....
Exxon compensation is pretty much middle of the road if you take an average employee in a typical accounting or engineering role at most oil and gas companies. There is some absurdity when it comes to HiPos but nothing crazy. Exxon does not lose out on spending too much for employees, they lose by not releasing the potential of their employees.
Think of simple routine tasks that take place in refineries and production sites all around the world and at every kind of company out there. Valve swaps, electrical terminations, chemical cleaning, well work-overs, crane lifts, work permitting, planning/scheduling. If you stacked up the procedures for those activities at an Exxon site versus say a Phillips 66, EOG, Enterprise, or LyondellBasell. The stack of Exxon procedures would probably out-weigh all of those four together. Now do the same exercise for corporate activities like auditing, procurement, recruiting, training, project management. You'll run into the same minutia that bogs down every employee trying to make things work and keep stuff running.
The thing is when commodities are high you can outpace all of the dead weight and make money along with everyone else. However, as prices wane you become uncompetitive much much quicker than the competition. Exxon's response it to usually just layoff contractors and cancel work when prices are bad. Why not change the way you work and try to make money and keep projects going for longer when commodities aren't great?
Just now Annandale but the whole of Research & Engineering is an appendage that can be done away with. This will make the company stronger and improve the bottom-line. No efficiently operating company has anything close to these absurdities.
Overhead costs in Annandale are outrageously high, tick,tick,tick, And very low occupancy. Hey are we still working on algae, what a joke. Time to plant corn and soybeans see you later I have to go complete an LPS observation, then an OCVM, then we have a safety meeting. We are a technology company, ?