Trading in Leatherhead is moving to Central London
Are remuneration packages being adapted for Central London? Any bonus scheme (trading vision)?
Well in practice employees will receive a travel allowance (7000 Pounds) to cover their daily train return tickets
So Trading is moving to Central London but employees are staying outside :)
Of the 100+ employees concerned how many will quit?
The bets are open
XOM will/has increased CL for trading positions thus increasing base pay. Traders got pay bump during COVID while everyone else was frozen. Soon (this year?), XOM will use RSU instead of cash bonus to lock them in and prevent attrition (just like the executives). Many LNG traders jumped ship for double their salary. Many more traders will follow in next 24 months.
Variable pay ... really?
https://www.bloomberg.com/news/articles/2023-07-05/exxon-s-meager-bonuses-make-attracting-more-traders-difficult?cmpid=BBBXT070523_ENERGY&utm_medium=email&utm_source=newsletter&utm_term=230705&utm_campaign=energy
Clearly not keeping up to date with company updates.
In addition to the location, the separate trading arm will also look to spin up a distinct package, including variable pay.
If our employees are so easily replaceable, why all the problems finding replacements?
Don’t complain, just quit. Don’t go away mad, just go away. We have 1000 qualified people willing to take your job.
I am not ... I am enjoying it
Feel so sorry for you. You’re getting 7k for travel expenses, stop complaining