What’s the end state for ExxonMobil and the continued level of attrition whether that be people wanting out of the door or the world famous PIP? Is this just a vicious cycle now? How many more does DWW want out of the door?
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@OP There is no end-state.
EM, like all other O&G super majors, will continue to go through cycles of stagnation and decline, with the occasional bounce that will fade quickly. Most of their money will be spent on litigation, lobbying, and executive bonuses. When there’s no more money to be made, the executives will bail and leave all of you cloth-coat Republican types holding the bag. Most of you will blame everyone for the resulting mess except for the people who were actually responsible for making it, as you are now.
They are reducing “liabilities” by buying people out of the pension plan.
They are also minimizing the number of people that get to retire.
They don’t care about attrition- they told you that’s the plan.
Just keep training your replacement in Bangalore and KL.
End game is being nationalized with executive payouts and stockholders holding an empty bag. 3 to 10 years, depending how things shake out. A good war for cover.
That's the plan, stan.
Depends on the XOM stock. Right now, it's soaring, so everything's good, at least for now. Tech sector and the stock market plummets and yet oil survives! Hail XOM!
DW is just the hatchet man. Once he hits his numbers they'll hand the bag of sh1t to someone else to carry on the consultants bidding.
Between 2017 and 2019, EM went from 69k to almost 75k.
Our genius Management ramped up at the same time laying plans to outsource to India.
That is worse than when EM Management approved a project to build an LNG import terminal while implementing shale gas projects to produce enough gas to create enough for LNG exports.
Company is run by robot dogs
Target is 50k employees remaining
Anyone working at real facilities and doing real work can see that DW let the consultants take it too far and now it will take years if not a decade to recover to talent pool we used to have. Yes, it sometimes seemed a bit heavy when things were going well but, we needed the buffers to roll with the ups and downs. The cost of manpower is not the problem in our business. Good question, maybe after we create an appearance we've saved money and then divest anyway.