Just had a thought which I think is true. We are all contractors now. Employees no longer exist. Get it in your mind that the most stability you have with EM is a one year contract. When the ranking rolls around all bets are off the table. You shouldn’t expect more than stability on one year extensions anymore. Even then they may have layoffs mid cycle like this last year. Keep your skills up, network, have a financial cushion, live within your means and be ready mentally and financially to be fired each year.
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There was a moment when they were talking about being the "Walmart" of the industry. Has anyone looked at who works and Walmart, how well they are paid, and how they treat employees?
If you have 10 years the pension is vested. Taking a better offer takes nothing off the table and maybe increases your net worth. For example, I now have 6% match which isn't 7%, but that 7 was gone anyway.
Yea this is very true. Following their lead just think of yourself as a free agent. Shop around and jump ship if you find a better opportunity. I was originally drawn to the company for the stability but now that is gone.... no shame exploring your options.
The pension is gone, meaning that as a regular employee you absolutely cannot trust that they will not throw you out one way or another by the time you get to 50, so you’re better off taking whatever job pays a little better. Of course the pension, as an official benefit, will still be there - the upper management will be the only ones getting it.
Ummm are you confusing the 401k match with a pension? The pension is not gone.
@1cwj+1aZ87fPC Sadly, most do not make the cut. A fresh graduate will be a better choice. Conversion is usually based on relationships with executives, however it is much harder these days since a good number of them ended up MLRP candidates.
OP is absolutely right, and this situation will devastate the company. Oversized MLRP every year and targeting of “high cost” employees (over 50) is a total game changer for the employees with 15 years of service, who are now the backbone of the company. That’s when people are at the most employable point in their career, but in the past nobody would quit at that point because pension was a reality. Now that’s gone and people will quit at any point for a few thousands extra per year, just as in service companies.
And don’t bring out again the cliche that few companies still have pensions and young people don’t expect a pension anyway. It’s one think to tell a brand new recruit that the pension is gone and a completely different thing to cheat an employee with 15 ys out of their long promised pension. EM is shooting itself in the foot big time with this.
@OP What you’ve said is true for almost every O&G company.
In order to offer anyone anything more, there would have to be prospects of future growth. There are none, and executives across the industry know this. Stagnation and decline with the occasional bounce will be the norm going forward.
I would advise anyone who hasn’t done so to consider changing industries.
You are an id--t if you think we don’t have excellent contractors.
@1wlb+1aZ87fPC pi-s off. you are just jealous that you are not good enough to be converted as an employee. Never will be.
As a former XOM contractor I'm glad to hear this. When I was there the perm employees did very little productive work. Sounds like upper managers are tired of this and want to reduce headcount. If XOM employees really are the brightest then they will have little trouble finding a new job right?!?!
Will be interesting to see which employees will go to campus to help when hiring process came back.
I just can’t do that seen everything that is going on.
I just don’t recognize the company that I have been working for the last 10 years. This make me SO SAD.
@OP+1aZ87fPC You deserve a pat in the back! Putting on your inclusion and diversity hat and sharing this perspective. Excellent!
This company is absolutely fu---d.
With the hiring freeze and the lack of benefits, no sane human being will want to hire on here. This place is dead in the water.
Most employees will welcome doing actual work.
The company absolutely wants a higher level of attrition.
This seems to be an accurate description of our current status, which does not bode well for ExxonMobil. Consider this: the upside to a career with ExxonMobil is predicated on 55/15 (minimum). If an employee’s ability to reach that mark is put into doubt by a PIPoff year after year, and considering there is no longer sanctity to the 401(k) match, some employees will pursue other jobs that offer similar pay, ability to WFH, 401(k) match, etc. It would appear ExxonMobil either does not realize the repercussions of its HR-related decisions, or it is subtly trying to encourage a level of attrition. Considering ExxonMobil’s desire to maintain control of all things (who leaves, who stays), it is seems more likely to be the first of those possibilities.
All my watches flooded just like a lake
About time XOM employees have to do real work rather than report on the work contractors / third parties are doing
Good. Maybe Exxon employees can get the job done instead of lazing around and brown nosing all the time
I see no lies here.
Yup you are