Thread regarding ExxonMobil Corp. layoffs

Celanese greatly overpaid for the business but they had cash to burn at the time. Exxon Mobil did a fantastic job packaging the business and propping it up but the reality was they oversold the value and it wasn’t recognized as such by Celanese, or they were overly optimistic and too ready to believe the hype.
No normal companies give the kind of total compensation that the Exxon Santoprene employees (mostly) had so the higher the level the more likely a company like Celanese would find a way to cull these positions, deem them redundant or eliminate the jobs.
Make no mistake, Santoprene is a very good business and had many talented people in it but it was always going to be right sized or adjusted if acquired by a company like Celanese. It’s a bit sad but it’s just reality. I just hope Santoprene doesn’t die a slow death because it’s an iconic business and brand - or it least it had been in the past.

I know this the old thread but some of this is turning out to be true. Celanese is getting rid of many Santoprene folks now that 12 months commitment is over (happening right now!). They are specifically targeting people who are CL (>=28), probably looking at their salaries.

The transition has been bad.

Like previous poster said a deal of this size was in the works for months. Bidding phases, due diligence, etc.

The non competes were changed to NDAs.

Usually when someone buys something like that, these efficiencies are planned well in advance. Santoprene knew what it had and decided to buy more with restructuring in mind. It’s not a oil and gas thing, this is how business works everywhere. If you didn’t see it coming, then learn about how the world works. Should XOM managers have tried to mention it indirectly (since they can’t legally say it)? Yes. But as a person in the business world, learn to look out for yourself and see the patterns of reality.