Offer 2/2/2 package (2 years age, 2 years service, 2 weeks pay for each year service) and everyone 53+ would be GONE. Then announce 0% NSI in 2021 with the restoration of 7% match and raises.
21 replies (most recent on top)
In US, XOM has not added years to age and service since 1986. Best you can count on is vesting RSU, and 1.5 to 2 weeks service capped at 52 weeks. Note if you are an employee who is staying, you do not want to the company adding age and years because these payments weaken the pension for the remaining.
This should really make you think hard about who you are working for. This company is willing to destroy any one of you at will to protect their public image. You are nothing.
The only package Exxon is offering is the 5/5.
You've got 5 minutes to pack 5 boxes and get the fu-k out.
LR May have been unlikeable but at least he was honest. None of this pretending to care that some seem to have believed much to their detriment. Exxon signs contracts. Exxon doesn’t care. Exxon isn’t your family.
Gonna take restoration of my cost of living adjustment as well in my case. Have me move to a hard to staff location and then cut the COLA. Classy Exxon.
If you think this would ever happen you’ve somehow gotten the wrong impression of the company you work for.
More likely golden parachutes than boxes. Either way you lose and they win.
I’d be gone too and I’m nowhere close to 53 years old.
Once all the May 20 votes are in, there will be several packages.
Like the several boxes of personal belongings at the front desk in Irving.
Vote before exiting, please.
Why says they want to fix the morale problem?
Lee Raymond famous quote was, "We do not pay people to leave this corporation." Do not expect anything except the minimal 3–4 months severance.
2/0/0 would do it for me
With rates going up, there is going to be a surge in retirements without incentives.
Yes giving everyone free money would improve morale.... but it’s not going to happen
@evm+1azfCfj8 the 10/10/10 comment is one of the funniest things I’ve ever heard 😂😂😂
Why should they be looking for a reason to keep NSI? It’s a job not a country club.
https://www.nytimes.com/1986/04/26/business/exxon-move-for-slash-in-staff-called-startling.html
https://www.upi.com/Archives/1986/06/04/Over-6000-Exxon-employees-agree-to-leave/8572518241600/
Company did this in 1986 and far too many took the package, including my father-in-law.
Company at that time stated they would never off similar again...
Of course that was 3/3/3.
you're more likely to get the 10/10/10 package: they'll give you $10 if you hit I–10 in 10 minutes
I don't understand your 2/2/2 package.
You would pay someone 2 years for what age? 2 years for how long of service?
That would damn sure get me out the door. Will never happen though. That would be a far too classy move for EM
Doesn’t really matter what they do, I’m in my 30s and done with this place. I’ll keep doing my job but won’t stop looking outside