Thread regarding ExxonMobil Corp. layoffs

Phillips 66 employee here. We didn’t get any sort of mid year raise and/or bonus, but we did have layoffs since management bungled our ERP transition, so that’s good lol. It’s expected that our bonus will be hefty and annual salary increase will be sizable, bonus paid out in mid February and salary increase taking effect on March 1, for reference. Anything less than a base 7-8% annual increase will be disappointing. We’re one of the few industries doing well right now amidst this insane inflation, it’d be nice to at least be made even when the company sure as he-l can afford to.

Shell employee here: we are all getting an additional 4-6% raise Q1 2023 along with normal raises.

If you are unhappy feel free to leave to the other oil majors..that is if you are capable to even leave. EM will continue to reap in huge profits with or without you.

8% and RSUs isn’t awful…course I still have yet to see it. I wish it wasn’t so late and hush, hush. I could have used a salary pep-talk a couple of months ago with the earnings call.

OP, you’re wrong. The company is sharing the profits with the staff. The staff that matters, the chosen ones. Everybody else are no value, disposable nothings.

Do the other majors still have disposable cups and silverware on their campuses? And what about normal people straws that don’t decompose halfway through your meal?

Look at the publicly available 2015-2017 executive compensation disclosures. It clearly explains whom gets RSUs, EBUs, and Cash Bonuses, and how the annual payout is calculated based on increases or decreases an annual earnings. The top +- 1500 execs of the corp reap bonuses at 1-5 times salary and the few dozen Vps and one handful of presidents reap 5x - 10x or more in annual bonuses. The Technichal “Chiefs” get 1x-2x in bonuses compared to their annual salary, so the technical “leaders” also smoke and drink the koolaid. It is very simple … many really stupid people whom have been inbred by management are overpaid 10x plus their actual worth so they will never rock the boat. What an embarrassment at so many levels. Hopeful Elon may smell blood and fix the problems and make the Board realize they have been duped the inbred Deliverance actors whom masquerade as our Dallas execs.

@OP Every large O&G company habitually defecates all over their workforce. While peer companies tend to be slightly more apologetic about doing so, they’re no better than Exxon when it comes to actual substance.

Everyone working in O&G seems to think they’ll be happier working somewhere else in O&G. People at Chevron apply to BP. People at Exxon apply to Chevron (like, a lot). People at BP apply to Shell. It makes no sense whatsoever. All it does is spread the misery around.

Nobody cares anymore because this place sucks and everyone knows.

All these companies are in the benchmarking they did..

So there has to be a harmonization of salaries to keep pace, or HR is lying

If you don't trust mgmt apply away. Market is hot.

We're about to get 8%. All is good again.

Stop overthinking. They just don't care