Thread regarding ExxonMobil Corp. layoffs

Why do ranking in 2021? RSUs for too and PIP for bottom

Many are asking why bother with ranking this year. It requires hours and hours of time which could be spent on base business of producing oil. Combine that with the fact that there will be no raises this year and what is the point? We all know the feedback system is broken at ExxonMobil anyway so even claiming employee development is the reason is bogus. I think it is so we can layoff without severance and so hipos can give themselves amd their friends RSU bonuses.

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Post ID: @OP+1apjEPeu

10 replies (most recent on top)

@vmq+1apjEPeu

You and I know it will be a train wreck and BTC won’t be able to do it but management doesn’t. Their overpaid consultants told them it was a good plan and they aren’t smart enough to know any better. Anyone who would tell them different isn’t allowed onto their floor of the building.

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Post ID: @xys+1apjEPeu

@djn+1apjEPeu

The plan that they are rolling out is no where near able to export a significant amount of work that employee attrition won't matter. Giving all work to BTC with people that have less than 1 yr experience and absolutely no facility experience is going to be a train wreck.

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Post ID: @vmq+1apjEPeu

@jra+1apjEPeu

Yup! Company is a s–t show. Especially when compared with all the other integrated oil majors that have already restored their employee benefits. I would argue that the company has to return 401k and some semblance of raises or attrition will continue to be high. It's naieve to think otherwise or that it is a problem.

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Post ID: @ooa+1apjEPeu

They are trying to cut headcount and move jobs to BTC. Why would they offer raises? They want people to quit.

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Post ID: @djn+1apjEPeu

Haha people think they are getting raises in January. Hope never does lol.

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Post ID: @hss+1apjEPeu

@ktf+1apjEPeu

You must be a newbie. First downturn? The company typically goes years without raises when there is a downturn. Even when they bring back raises it will be a couple hundred bucks annual raise the first year they are back.

Ask around those who were here for last downturn in 2014-2016. And that wasn’t even a bad downturn.

You should wake up and realize what is happening or you will be disappointed.

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Post ID: @jra+1apjEPeu

Why no raises in 2022? Is that announced also?

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Post ID: @ktf+1apjEPeu

Here’s where management thinks they’re pulling the wool over our eyes. They mentioned it’ll be bottom 8% except in certain business units, where it’ll be lower.

Applying a different cutoff to certain business units affirms the fact that this isn’t about managing lower performers. This is about trimming the bottom and is effectively another slimy layoff. If you need to lay people off, fine, but call it what it is and provide a severance that’s not embarrassingly low like it was in December. It’s destroying trust and employee morale.

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Post ID: @jer+1apjEPeu

Ranking is necessary to identify the bottom 8% subject to upcoming PIPoff.

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Post ID: @xjp+1apjEPeu

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