What's the latest news on layoffs? Location and people affected?
13 replies (most recent on top)
Plan is to sell assets and the people who support them. Not just field either. Engineers who support including from Houston will be sold.
Instead of asking here, as your fearless HR VP TG and she will tell you that there won't be any "announced" layoffs in near future. So that the company wouldn't have to announce another layoff they expanded the scope and expedited it last year. However, they would be many unannounced layoffs coming. Ask any of your E&PS colleagues and they will tell you.
The Joliet and Billings refineries are for sale.
Several parts of the business are for sale. What people aren’t talking about but should be is that the employees supporting those assets will be sold with the asset. Sneaky way to say no lay off! Let the purchaser lay them off or they will quit when offered much lower pay and benefits.
There won’t be layoffs. There will be trimming of the fat that still very much exists in many areas, as we have done every year, and some hiring in certain areas that have mounted significant “regretted losses”
Suddenly, politicians and greens have discovered wind and solar is unreliable. Everyone is going back to work. Anyone with core upstream O&G skills not working is because they would rather not.
Remember, never stop looking for the next job.
Downsizing will continue until our global headcount is 50 to 55K employees. Our final headcount will be comparable to Chevron which also produces the same amount of oil and gas (i.e. barrels of oil equivalent) as we do. Controlling OPEX is key to profitability.
Statistia
Chevron - 42,628 employees (December 2020)
BP - 63,600 employees (December 2020)
Shell - 87,000 employees (December 2020)
Total - 105,476 employees (December 2020)
So many useless group leads and department heads in this company. We really don’t need as many after the layoffs and attrition. Middle management gets cut next!
Monday, 21 June 2021
Exxon Prepares to Cull US White-Collar Ranks by Up to 10 Percent
Newsmax.com
Exxon Mobil Corp. is preparing to reduce headcount at its U.S. offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter.
The cuts will target the lowest-rated employees relative to peers, and for that reason will not be characterized as layoffs, the people said, asking not to be identified because the information isn’t public. While such workers are typically put on a so-called performance improvement plan, many are expected to eventually leave on their own. This year’s evaluation is happening now but affected employees have not yet been notified, the people said.
“Our annual performance assessment process has been occurring over the last several months,” Exxon spokesman Casey Norton said in an email. “Where employees are not contributing to their highest ability, they may need to participate in an improvement plan. This is an annual process which has been in place for many years, and it is meant to improve performance. This process is unrelated to workforce reduction plans.”
The plan is separate from Exxon’s announcement last year that it will cut 14,000 jobs worldwide by 2022, and it would extend reductions well beyond that original time frame. It’s a tumultuous time for Exxon, which is still grappling with the fallout from last month’s annual meeting, when shareholders rebuffed top management and replaced a quarter of the company’s board over climate and financial concerns.
Exxon had 72,000 employees globally at the end of last year, of which 40% worked in the U.S., according to a company filing.
White-Collar Jobs
Several high-profile traders have also left in the last few weeks. While the performance-review process mostly applies to white-collar jobs such in areas such as engineering, finance and project management, there’s no suggestion the trading departures were related to the review program.
Exxon’s other cost-cutting initiatives have included suspending bonuses and halting employee-contribution matches to 401k savings plans as the pandemic crushed demand for crude, saddling the company with a record annual loss.
International crude prices have surged 44% this year to almost $75 a barrel, improving Exxon’s financial position markedly. Still, the supermajor has some way to go to pay down debts accumulated during 2020’s market collapse. A smaller and more efficient workforce is key to further improvements.
Exxon achieved $3 billion of annual “structural cost reductions” in 2020 and will continue to make savings through 2023, Chief Executive Officer Darren Woods said at the annual meeting in May.
“We’ve got additional work to continue to take advantage of the new organization and find opportunities to reduce our costs,” Woods said.
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www.aminext.com
JUNE 21, 2021 — UP TO 30% PERFORMANCE TERMINATIONS IN THE NEXT THREE YEARS OVER AND ABOVE THE COMPANY’S PROJECTED CUT OF 14,000 JOBS WORLDWIDE BY 2022.
Exxon Mobil has announced preparations to use peer-review criteria to reduce headcount at its U.S. offices by between 5% and 10% annually for the next three to five years using a performance-evaluation system to identify low performers relative to their peers.
This reduction in force will not be characterized by the company as layoffs, but performance review terminations.
The company is not commenting on whether this is a stacked ranking scheme that can severely penalize a brilliant, high-performing employee that has the bad luck to be placed with other brilliant high-performing employers that are marginally better in presenting themselves to management.
According to the company, this review plan is separate from Exxon’s announcement last year that it will cut 14,000 jobs worldwide by 2022, and it would extend reductions well beyond that original time frame.
Updating skills smells like a trap, like 2020. XoM leaders are so predictable. Keeps repeating history over and over and then say we wouldn't do same mistake again.
Lot's of jobs out there. Start seriously looking while you have a job. You can always say "No" if you don't want the job. You have the option while you still have a job. When you are laid off, it gets tougher to find a job and you end up taking the first one you get even if you don't like it just to keep the bills paid.
Update your career connect skills by October 15. Friendly tip.