I am listening to the global employee forum now…. I heard an audience member’s question which roughly asked if there would be a staffing/headcount reduction associated with the reorganization, but I did not hear a response to that part of the question.
Does anyone have any knowledge of if headcount reductions are headed our way as part of the reorganization?
(For clarity, I am not referring to the MLRP/PIP program and I am not looking for people’s snarky guesses… I am looking for someone with actual knowledge of the situation to help give the rest of us some helpful insights)
22 replies (most recent on top)
Yes, 8% PIP's (a.k.a. headcount reduction) will continue into 2023.
Darren Wood confirmed in the 4Q2021 conference call this morning that we will exceed our $6 billion commitment to "Structural Efficiencies" by 2023.
Our actions are yielding strong results and, as I said, positioned us to benefit from demand recovery. We grew earnings to $23 billion and drove nearly $2 billion of structural efficiencies in 2021 on top of the $3 billion the year before. This puts us in a good position to significantly exceed our goal of $6 billion of structural cost savings per year by 2023, relative to 2019.
Sure. Good morning Biraj. So we talked some time ago about a $6 billion structural reduction through 2023. As we work through 2021, and drove additional improvements within the business, we’ve extended that restructural cost reduction. We expect, as I said this morning earlier, kind of around $2 billion again in 2022 and another $2 billion in 2023, so more than exceeding the level that we thought about and talked about last year.
Technology and engineering that the new company or the new group that we’re forming is basically, again, doing the same thing, best capabilities from each of our businesses. We have technology functions within each of our companies. We’re bringing those things together, same with engineering. And we, again, expect to end up doing things much more cost efficiently for much more effect. And that – so the savings that we see going forward are really the result of a lot of different things being applied across a huge scale of our operations to significantly reduce cost.
And there are other opportunities in the future. Think about supply chain, think about some of the financial transactions as we’ve, over the course of 2018 and 2019, realigned our businesses and work processes so that now, as you look across our different businesses, we’re conducting businesses in a very similar back office approach, so to speak, that gives us an opportunity to capture the synergies that exist between those.
@1rds - oh fcuk you, you big cry baby !
Sounds lovely.
Glad I got out when I did and with the lump sum.
If so many business lines were merged, where are the corresponding headcount reductions in Presidents and Vice Presidents?
Save millions of dollars for each P and VP position eliminated.
Of course there will be layoffs. I for one do t buy the talk that they will transfer people around. More likely they will fire us as they shrink the oil and gas production and hire new people to work in their low carbon solutions business.
How are there going to be reductions if managers that loose their position like IC are now filling new fake ones?
Remember, they said no layoffs in 2020 then had layoffs a few months later. The CEO lied to everyone. Why should we trust management now? Keep looking for new opportunities everyone, let the brain drain continue!!!
Stands to reason that headcount reductions come with “Scaling” and “Integrating”. But I wouldn’t expect any direct answers to the questions. CE0 and top brass have lost the trust of the locker room. Keep PIPing 8% annually and telling employees how this is helping them improve - people don’t believe it, nor should they. If people are truly our greatest asset, better rethink and fix PA with urgency - unless there’s no longer a desire to recruit and retain top talent.
Karen sent a second note reiterating this is not a head count reduction plan.
I should've written back saying it's not that we can't read her initial email, it's that we don't trust them.
Guess the fact that I didn't write that backs just shows I'm no better than all the yes men executives.
This reorg was supposed to be done and announced last July/August, and the reason it was delayed was because of the incumbent managers fighting to retain their status. They are all still only out for themselves and will PIP whoever they have to to climb another rung.
Too bad Rex’s tree is gone-it would have been the ultimate justice to have it topple over on the relocated God pod.
will we see hunger games show when managers try to secure/maintain their managerial positions in the new organizations ? let's the games begin :)
How exactly is the Linda Bot qualified to lead research and innovation and all the magic thinking they like to pretend they do??
8% MLRP and PIP will be targeted to people with medical, maternity and people with extended leaves of abscesses or WFH. just watch.
Annandale will add more contractors, Dan and his contractor cronies 102-475 dig deeper into the piggy bank, and more XOM will be backed down, or PIp’ed so corrupt.
Was there a question on PIP?
It’s a guess, but a guess educated by experience: manager positions will be reduced, managers concerned will be given sinecures (advisor and such), corresponding personnel reductions will be achieved by getting rid of regular workers. Always the same thing.
Lots of "Special Assignments"
Cut out 2 layers of management then that will free up the rest of us from half our PowerPoint workload.
Doesn’t it seem like there should be way fewer managers given the aligned organizations?
Will they dare layoff managers?
Management and supervisor jobs will be rightsized!
8% will continue, people with medical absences, maternity and near retirement eligible will be scrutinized harder in the most legal way they can.
No layoffs, but 8% pip continues...