I know some will be willing to move, but not everybody. I wonder how many will quit rather than relocate their families from Irving to Houston. Especially if there is a possibility of being laid off or PIPed once you relocate - which has happened to people before (I remember reading about it right here a while ago).
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Normal attrition in XOM is 3 to 4% per year (including retirements). With 65000 people you should expect 1500 to 2000 to resign or retire every year.
Many XTO folks moved to Spring campus and guess what, many of them have been PIPd so far. Good job XOM.
How many XTO workers quit rather that move to Houston area?
EM is having record earnings in 7 years...so now employees are happy because the money is there to spend...so attrition will slow down this year...many of ex-colleagues are really happy with their raise in 2022...significant raise and plenty of promotions...
@1zsb+1f57EOPQ
Many still have golden handcuffs until July. We haven't seen the end of that yet.
What % quit from XTO when they were relocated to Houston?
Will it matter once Chevron buys us?
Dallas born and raised people dislike Houston.
Non executive Dallas born and raised people likely to quit on the same scale as XTO people.
What was the attrition of Dallas XTO employees that quit rather than move to Houston.
You can’t compare Fairfax move to Dallas. It’s like apples to oranges or monkeys to gods. When you add in people that retired early which were not counted in the official numbers only about 40% actually moved.
We are talking for Dallas employees. For God’s sake. Of course they are all moving.
The people who have given their life to the company will go. They can’t go anywhere else.
@1ihk+1f57EOPQ “Collapsed”….. nice turn of phrase
I guarantee company paid corporate jets will be shuttling the gods back and forth. There will be no sacrifice for the chosen ones.
The level of dialogue on this board has been uninspiring to say the least.
You are all idi*ts, you should be surfing this board as you would likely be the first to be laid off.
The savings isn’t in the heads per se… or even their obnoxious salaries, it’s the acreage and building in the middle of dfw. That all needs to be liquidated and collapsed into the existing campus.
Now you all owe me for making you not sound stupid at the water cooler tomorrow.
@svj+1f57EOPQ -- Judging from the XTO experience, 60% will quit instead of moving, 40% will move down to EMHC, and 50% of those will get laid off next year.
Lot's of admin and support staff (at relatively low pay scale) will quit/retire because they have a working spouse often at higher pay that cannot come to Houston. Oftentimes mid career employees (with mid salaries) will quit because they ae married to a highly compensated professional (doctor lawyer etc), and they chose to resign and start a new career. When we closed Fairfax, Midland, New Orleans, New York, we lost about 30%. Expect about the same with this move.
Another question is how many will move to Houston and then get laid-off to achieve corporate structural efficiency.
they'll just wfh
The company has been known to put employees and even executives on a temporary domestic assignment (TDA) which means that the company will pay for the apartment in your transfer location for 18-24 months especially if you have children transitioning from elementary to junior high school or high school.
I am sure that the 300 people in Dallas will qualify for a TDA if they want or need it.
Most of the support staff will not move if even offered. The relocation is meaningless for most of the executives. As pointed out previously, they have multiple homes. And Dallas is still commutable for weekends and visits back to family.
Contrast this to the Fairfax move or Calgary move which separated families for the “vision” or resulted in acceptable and wanted attribution. It’s like Washington. The rules for the god pod aren’t the same.
People near retirement can rent a small apartment in Houston and commute Mondays and Fridays. I have known people to do this for years.
For the top execs, just buy a second mansion and ride share a Private jet Monday and Friday for less than 1 hour of pay round trip.
There are analyst and advisor-level roles in Dallas that I imagine will see high attrition over the move.
However, most of the senior managers and execs there have already demonstrated willingness to bend over backwards for the company. The road to Dallas is paved with many, MANY geographic moves. When the company says “jump,” these yes-men and women ask “how high?” … that’s how they got to Dallas in the first place.
Further, most make more than enough money to own two homes; one in Dallas and one in Houston. Those who really don’t want to permanently move can commute and have the means to do so.
I think there are in total 300 people who are expected to be relocated. So even if 50% quit, we are talking about 150 people.
That is a normal XOM attrition month of the 2020+ era.
Guaranteed very few people will move. Typical approach will be drive in early Monday morning, hotel/AirBnB all week (expensed to company), drive back Thursday evening, wfh or not work at all on Fridays.
No one who is settled in a nice part of DFW is going to give that up for some once-was-great suburb of Houston, unless they absolutely can't avoid it.
Wrong about the commute. Lots of folks commuted between Dallas and Houston after Exxon and Mobil merger and even some with the 2018 XTO to Houston move. If you have kids in high school or close to retirement you do what you have to.
And I highly doubt many will commute four hours back and forth, or even just over the weekend.