I have a Question for the all employee meeting and hoping for management to please provide reasoning:
The delta between the previous layoff packages and the upcoming severance package would have been a rounding error in the deal, but makes a big difference for the employee. You had us endure 3 large layoffs, then 2 large acquisitions so we all took on much more work as a result. Now you will provide less severance, especially for employees at the lower salary range. Theoretically, there are employees that have been here 3-5 years that will take home the same or close to an employee that started a week before the merger was announced. There are long tenured employees getting half of what they would have received if they were deemed to be laid off in the previous rounds. There is No way XOM would have walked away from the deal for such an insignificant amount (to them) to just give us the same package as the employees you laid off previously. They even gave those packages the year the price of oil went negative.
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I, for one, welcome our new Exxon overlords.
Exxon has such great stock grants, bonuses, culture, work life balance, flexibility, office space and PTO as compared to Pioneer I’m sure that will be the deciding factor. It was just a way to save a little cost of their “best asset”.
You’ll get your severance. If you can put your career on hold and be in limbo for 18 months. If you successfully (whatever that means) complete your transition period. If you’re okay with XOM’s subpar benefits and huge slash in PTO. XOM - DIAF
Smoke and mirrors but let me tell you about my family while you worry how to support yours
I’m not a mgr but if the severances were as huge as those during the layoffs, ie 1.5x base, then they would be so irresistible to many people that not enough people would accept the offer. XOM are adding a huge asset and drilling, frac program to their business and they can’t have the majority of technical staff declining the offer. You might not like that answer but it’s a good business decision.
Amen brother!! I have been saying this since the announcement. We’re getting sc--wed all the way around
Look at the new FAQ post. Exxon is not paying anyone severance.