One to Two Billion in Annual Savings by Terminating Us and Offshoring Our Jobs - WOW, Way to Go Woods

Cost savings from ExxonMobil's global staffing review are likely to range between $1 billion and $2 billion per year.

That would definitely cover Woods and his cronies and the Boards and associated HIPOs salaries, RSUs, pensions, bonues, etc.

Those savings would also take the following to cover some of those same above Management's more brilliant decisions to cover the following as they PIPed us, PILed us, took away our 401k match, offshored our jobs, declassified us, reduced/froze our salaries, etc. Etc. By saving one to two billion dollars per year it would take 12 to 25 years to get back our lost investment for the wasteful spending at Kearl and so on and so forth. So the question becomes, none of us made the decision to investment in these cr-p projects. We just followed the direction of our sunflower managers. We did not make any of the these decisions, but we and our families paid the price with our jobs. And the employees that made those decisions are still running this company! Do you have any doubt that you should be looking elsewhere for a job? They only look out for themselves, and they will do it all over again and again. They did not save the dividend for the shareholders or for grandmom. They did not choose the dividend over the employees. They choose the dividend for their own wealth, because they own so many shares and so many RSUs, nothing more and nothing less. Their own personal gain, that is why they voted themselves stock bonuses last year and RSUs. Wake up, they do not give a darn about you or your families. We the employees and our families are so happy to give you HIPOs and senior management and the Board back the one to two billion dollars per year to cover your sorry as--s for the poor decisions you have made that still remain and your talentless offshore employees that remain running this worthless corporation.

Kearl at $25B - 12 to 25 years

XTO at $40B - 20 to 40 years

Lean Into Strategy at $30B - 15 to 30 years

Annual Dividend Payment at $15B - employee savings is a pittance

Stock buybacks at $200B - 100 to 200 years

Borrowing $75B since 2015 to pay the dividend - 36 to 75 years

Algae Fuels at $10B - 5 to 10 years

Carbon Capture and Storage Strategy - who knows but it will be a disaster

You add your own units and organizations examples of wasteful and poor management CAPEX spending decisions to the list, please.

Comment! It's anonymous!

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@2apg+1aIhK4UG

I think it was around 5th grade that I understood the kids who screamed "math is st#pid, nobody likes soccer, who cares about that d-mb english class" etc. were the kids who didn't understand the lesson plans and were too afraid or lazy to participate in sports or classroom discussions, and instead of bearing down and allowing themselves to be educated, they found it simpler to scream about how useless and d-mb the tasks were that they couldn't perform or understand.

Doesn't appear you ever outgrew that phase.

2apg+1aIhK4UG

Already been there, done that. Don’t recall seeing you? I would know if you spoke. LOL

Complete BS, worthy of a corporation aspiring VP with main skill that of shifting a view to praise a supervisor. If not in Dallas already, you should be heading there!

Sigh, if only life was so simple. Take Kearl as an example. Do you really think EM wanted to invest in oil sands? No, they clearly didn't. So what happened? All O&G companies were under tremendous pressure by Wall Street for volumes growth and reserves replacement. Kearl offered both on a large scale. With some luck, EM hoped higher crude prices might allow Kearl to at least break-even, but they knew profitability would be a struggle.

So was Kearl a horrible investment decision as claimed over and over on this forum? No, it wasn't. Investments have different purposes, and not all are based solely on ROR or earnings. The company and stock value benefited by meeting volumes growth and reserve replacement, even if they came from marginal projects. The headline news of growth and portfolio replenishment carried the stock and met analyst expectations, and Wall Street wasn't all that interested in the details.

Even if an investment requires an impairment, it doesn't mean the company lost money. Discount factors, integrated economics, tax write-offs, cost of capital, and many other factors don't come out cleanly in a simple analysis. It's much more complicated.

And so what if an investment does lose money? If meeting Wall Street expectations increases the stock price, do you really care? If that lousy investment provides long-term cash flow, even at a low or negative ROR, the company can use that cash flow for new investments when opportunities arise.

It's similar to the rants you see on this site about debt, as if all debt was equal and bad. Only to people who don't understand economics and finance. Cheap debt is wonderful. Not only as an inflation hedge, but also as leverage, not to speak of allowing projects to truly be evaluated by HQ at PV2 instead of PV8 or PV12. I will take on all of the cheap debt I can find, and make money at it.

People always second guess actions they don't understand, but that is why they aren't making the decisions. It's a lot more complicated than they could ever imagine.

Yes, that exact formula has made many a millionaire out of ordinary folks at EM for decades. Do your job well and do as you are told. You are not being paid to run the company.

Kicked out the Dow, downgraded three times, XOM stock price 1/2 of CHV versus 10 years ago, and leveraged to the tune of $75B to pay dividends. After this year PIP program all we will have left is the Sunflower Manager HIPO employees and the talentless offshore employees and a large debt to pay down. The remaining employees will be even more Sunflower like as you can now be moved down in the ranking system in one year an unlimited amount. And the remaining employees are the ones that created this entire mess of a corporation. There will be another reorganization at YE once the PIP and attrition has run its full course and BTC have been staffed. There will be no opportunity for advancement anf CL promotion. Do as the prior poster said, get ready to shut your mouth, drink the Kool Aid, follow the sun, and watch your pension be canceled and your carrer dissolve in front of your eyes. God Bless you All.

Maybe the most ignorant and stooopid arguments posted on this site. Were you consulted on the merger agreement? How about the Qatar investments? Guyana? Angola? PNG? ADNOC? EG? Nigeria? UZ? Far East? Or any of the dozens and dozens of major investment decisions that have led to significant returns over the past 20+ years?

No, your opinion and knowledge of investment opportunities are of no use or interest to EM or the shareholders. You are an extremely small part of the system that is extremely well paid to do what you are told to execute these programs.

If you want your say over investments, open up your own business. Otherwise, do your job or leave.

And do you really think the dividends on company stock are of any real financial significance to the SLT? Seriously? In normal times, we are talking about maybe a 3% return. That's like saying free coffee at work is a major benefit program to employees. The more I think about it, just leave. You are hopeless. LOL

Stock buybacks worked well for Tillersen his net worth is $300M. Woods has a ways to go at $80M.

The stock buybacks alone.... greed and short sightedness will cost us now. And it's the technical engineer who will pay the price

Me likey it !

Thread regarding ExxonMobil Corp. layoffs

One to Two Billion in Annual Savings by Terminating Us and Offshoring Our Jobs - WOW, Way to Go Woods

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