Thread regarding ExxonMobil Corp. layoffs

Exxon CEO considering pay raises to fight employee attrition - Bloomberg

An article by Bloomberg referenced in Seeking Alpha.
Does Mr. CEO start feeling the heat? Future will tell... Place your bets.

https://seekingalpha.com/news/3757641-exxon-ceo-considering-pay-raises-to-fight-employee-attrition-bloomberg

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| 4675 views | | 25 replies (last October 28, 2021) | Reply
Post ID: @OP+1dudIW7A

25 replies (most recent on top)

@1zhk+1dudIW7A
"The company’s concern on unabated attrition is really on the lower CLs leaving en-mass." This was the group targeted (not officially of course) for the forced layoffs in Brussels (Belgium): 25% of this HQ is gone! "Concern"? Hmmm...

@2tpi+1dudIW7A
"I dare you to find a company that doesn’t let go of someone after a year of incompetence". May I suggest that you take a close look at your 'leaders' and most of management? Unless you mean "incompetence in a$$ kissing"? Then I agree, not everyone has this skill or the will to make a career based on that 'competence'.

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Post ID: @3uyr+1dudIW7A

It is so sad to see how lower paid employees are treated at EMRE, NJ. Multiple years of frozen salaries, some with tiny benefits, and some with no healthcare. Don't care if you are a contractor or not, affordable healthcare should be provided to all working here. I don't understand management's thinking. Gone are the days of kindness and respect for all workers. I'm a higher paid employee who gives money to a low paid contractor to help her pay her rent.

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Post ID: @2bbe+1dudIW7A

With the old rankings, you in theory couldn’t drop too much in one year. In reality, people absolutely did move drastically. Having 4 years to correct yourself previously is the most bs I have ever heard. You had maybe a year to get your sh-t together. If you’re so concerned with being let go of, maybe that’s because you know you should be at the bottom? And I dare you to find a company that doesn’t let go of someone after a year of incompetence, hotshot.

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Post ID: @2tpi+1dudIW7A

@2dpk+1dudIW7A
No what changed was the pension which they used to tout as the thing that differentiates them from other companies became an almost impossible to win carnival game after the PIPoffs / Layoffs. Add to that the bumpers being removed from the ranking system allowing for you to go from #1 to dead last in a single appraisal period essential putting everyone on 1 year contracts. At least with the old system if you saw a steady decrease in your ranking, you had at a minimum 4 years to find another place to work. Now you get 3 months, which means everyone should be looking for their next job 24/7.

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Post ID: @2xmy+1dudIW7A

The big raises are only for bu-t kissers with freshly kissed sponsors.

If you are professional and add value, your raise will be less than inflation.

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Post ID: @2hpa+1dudIW7A

So many people upvoting that it doesn’t matter if there’s a raise. Why didn’t we see mass resignations in 2019 then? 2018? The only thing that has really changed is the pay? We always had politics, some/many bad managers, and outsourcing for decades. And it’s not as if we just discovered yesterday that oil and gas isn’t the future?

What happened was most people were quiet about it because they were paid well. Then for 18 months we weren’t and we bitched (rightfullyish so). So if they restore the pay and make up for the lost money, things will go back to normal 3-6 months later. If they don’t make up for it, then yea we’re in trouble. And I sincerely doubt that they will make up for it.

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Post ID: @2dpk+1dudIW7A

The trick is, increase our salary so we stick around till our jobs are “ported” to BTC or KLTC.

Instead of us quitting, they want to have the power to fire us at their will at a later date.

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Post ID: @2fuh+1dudIW7A

Dataguide shows low single digits, with highest for DS, followed by US and then C curve. Please reconcile.

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Post ID: @1zrq+1dudIW7A

The key word is considering. That POS has no credibility.

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Post ID: @1eqe+1dudIW7A

All the perks are gone. No raises for 4 years. Want to contract our jobs. Shove United Way in our face. What a depressing work environment. Management doesn't care about are needs and concerns. All about the bottom line. Can't wait to get out.

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Post ID: @1lzf+1dudIW7A

Hmmm….
5% for inflation
7% for missing 401k match
7%x20% for missed growth on match
3% on missed 2020 salary treatment
….and that gets me to flat?

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Post ID: @1vpu+1dudIW7A

@1wik+1dudIW7A
Ding, ding, ding! The attrition will continue after the raises, and they will continue to scratch their heads as to why.

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Post ID: @1tgd+1dudIW7A

@egh+1dudIW7A
“ I expect the company to pay me no more than the minimum they can get away with.”
Yeah, except that they think they can get away with anything. They’re clueless about “what the market can bear”. They are inbread EM managers.

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Post ID: @1nwi+1dudIW7A

The company’s concern on unabated attrition is really on the lower CLs leaving en-mass.
For those 50-somethings and NREs, you can forget better increments. This group has been HR’s target all along, for early separation, to load shed the top-heavies and reduce our bloated SWB budget.

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Post ID: @1zhk+1dudIW7A

Seems like Exxon has not understood why people are leaving!!!

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Post ID: @1wik+1dudIW7A

Do you know how terrible your employee morale has to be for this headline to have been a headline? Raises are supposed to be mundane.

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Post ID: @1xel+1dudIW7A

“Exxon CEO considering pay raises to fight employee attrition”

I thought the goal was to accelerate attrition? Now they want to offer the people still there some measly pay raise to keep them from quitting? I don’t get it.

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Post ID: @1ewz+1dudIW7A

@ssz+1dudIW7A

I expect the company to pay me no more than the minimum they can get away with. That is the way it works everywhere.

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Post ID: @egh+1dudIW7A

Show me the money

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Post ID: @aho+1dudIW7A

The buzz word for the last few years was being "proactive". ExxonMobil is the complete opposite of being proactive. We should have a new slogan.
ExxonMobil...the "Reactive Company"

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Post ID: @sea+1dudIW7A

Hey I'll take a raise and a few weeks of vacation early next year before leaving so that is great! He still doesn't get it. More people will continue to leave because of the fake layoff which will continue year after year.

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Post ID: @jqe+1dudIW7A

A good CEO would give you a raise because of inflation and because he is kind and fair. It should not be because of attrition. They are hard to find now a days.

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Post ID: @ssz+1dudIW7A

Not for the NREs

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Post ID: @fxy+1dudIW7A

I will believe it when I see it. Talk is cheap. I respect action.

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Post ID: @hgf+1dudIW7A

Ofcourse, best way for an underpaid CEO to raise his own salary. Why wouldn't he raise pennies for worker bees so he can get a raise bigger than $$$ and come out of poverty and into prosperity. #winning.

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Post ID: @ubm+1dudIW7A

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