Thread regarding ExxonMobil Corp. layoffs

XOM needs to get far more aggressive on PIP. and needs to cut bottom 20% of executives in the 30 to 34 rank group and the 35 to 40 rank group. Watch the executive departures. Then when executives are re-ranked after bottom 20% depart, then the prior 20 to 40 group will be at the bottom and get no RSU and no bonus and encourage to retire at age 55. Exceutive bloodletting will be fun to watch. Remember there is a 50% chance you work from a below 50RG executive, so half you you will get new bosses over next 3 years. This executive high grading will save more money than all the other initiatives combined. Cutting 20% of staff means also cutting 20% of executives, watch the executive retirements. especailly in 1Q 2026 when many get zero RSU and Zero bonus. (this affects 3 year average and tends to force alot to leave. Fun to watch

I love Prague, Budapest and Belgium

@bt @a3 let’s see …. We closed every office in the United States and consolidated at the campus. We’ve gone through aggressive PIPs in 2021-2022 (lack of strong labor laws let you layoff without saying you’re laying off) and then announced all home based sales must relocated to Houston. Plus closing Clinton.

USA has been there. Done that.

@a3 didn’t the US already go through their “transformation” with all the cuts during HW3?

The UK has entered the chat...

Hello from southern Alberta

Does the Singapore move also affect the trading people?

@a2 seriously? migrated to Bangalore I guess

this is good news for kltc..it looks like we are expanding even further...more kltc expats to Houston...yeayyyy...

wow , XOM actually announcing layoffs ! Did DW finally grow some ba--s, or did he borrow someone's ?

@a1 will elaborate in our 10am call tomorrow. pls do attend

How long until these savings are structural enough? So much winning

USA is next!

300 jobs cut in Budapest.

Singapore office to close. Employees moving to refinery with cuts.

Can you elaborate a little more on the above statement?