Thread regarding ExxonMobil Corp. layoffs

Don't let the xom stock price rebound deceive you.

It is all "peace and love" from management now that the company is enjoying the tail winds of war/pandemic induced high oil prices.

Management is attempting to erase the memory of 2020/2021 by preaching pathetically that the fake performance reviews are meant for coaching and rewarding achievement, that the company cares about your career, thay they are building a "strong culture", whatever that means, that they want you to "have fun", that IDPs are important for your career development, and that your compensation is competitive.

It is easy to manage in times of prosperity. But true leadership is demonstrated during times of crisis. And if anything can be learned from the 2020/2021 crisis is that leadership failed.

Leadership considers you a "structural cost" that can be slashed any time in the name of preserving the dividend and becoming more "nimble".

Don't be deceived by the current "record stock price" mood. It is temporary.

Nothing fundamental has changed, the same management that was in charge in 2020/21 is in charge today.

But oil prices will go down eventually, a new crisis will come, the fake "peace and love" mood will dissipate, and the same self-preserving, narcissistic management behaviors that neglected and failed you in 2020/2021 will return.

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Post ID: @OP+1h9fPWSg

5 replies (most recent on top)

all these shares buyback is pushing EM stock price through the rooooof~!

long live EM shareholders.

sucks to be an EM employee though. :(

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Post ID: @3whj+1h9fPWSg
  1. If you work for an oil company that on one hand rakes in super high profits due to a crazy oil price and on the other still does regular hidden layoffs known as PIPs, and you’re fooled by the stock rebound, then you’re an id-ot. Or a manager.
  2. If the stock “rebound” would have been similar to better managed oil companies, the price would have been $175 rather than $100 (see Chevron). If the “rebound” would have matched the S&P average, the stock price would have been $500.
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Post ID: @3zeg+1h9fPWSg

Every Executive that was involved in creating, approving, implementing the huge hiring binge 2018-2019 should have been the first fired in 2020.

Instead those Execs that put EM in that employee heavy predicament kept their jobs and received more bonuses, while they fired productive employees.

No accountability at that level. Make decisions that damage EM and get more bonuses to fix the problems you cause.

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Post ID: @qaq+1h9fPWSg

I agree, EM doesn't care what I think. Equally, I don't care what EM thinks. Keep miking the cow 😁

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Post ID: @oez+1h9fPWSg

You need to move on. EM does not care what you think

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Post ID: @khb+1h9fPWSg

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