Not because you might lose your job after we buy you, but rather to spare you the grief that comes along with working at ExxonMobil. If you stay, bring the popcorn to watch Exxon destroy yet another company (e.g., xto).
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Most of the XTO employees left on their own for higher pay at other small companies. I expect same will happen if we buy Pioneer.
@cck+1m7LBCxl Typical Exxon arrogance. It’ll be the well-deserved death of this place.
XOM only wants Pioneer's assets, not its people. Whoever is the owner of Pioneer, you're making a big mistake. And XOM never ever learns. Oh well.
Pioneer peeps will definitely be eaten alive once they join, that's for sure. I've met many of them and they are these chill peeps but reserved, always looking up to the big brother. I can only wish them luck. Or let me say that they are better off not selling their souls.
XTO does not exist since 2017. The XTO name is just mere business. It is more grateful to say XTO than EM.
When Exxon acquired Mobil Oil, there was a significant drop in regular employee headcount between 1999 and 2002 as an integrated company and a gradual drop of headcount between 2002 and 2009 as we sought additional synergies and efficiencies.
Headcount reduction is textbook Wharton School of Business mergers and acquisitions strategy when "Big Fish" buys "Little Fish".
Year ExxonMobil Regular Employees At End of Year Post Acquistion
1999 123,000
2000 99,600
2001 97,900
2002 92,500
2003 88,300
2004 85,900
2005 83,700
2006 82,100
2007 80,800
2008 79,900
2009 80,700
XTO was great and then it went to Cr-pola when exxon bought it.... I know, I was living the dream until it became a nightmare.
XTO would not have survived without Exxon.