Are there any particular CL levels at which you are safe for life? Might give something to aspire to..
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None. VP - given choice retire or be fired with no pip option; DW and Board have job security.
@fp Nah, that’s not how this works.
They send your job there, tout the cost-cutting (not even all that much savings), share price goes up, and so does executive compensation.
This is all about personal wealth building by one class of people at the expense of another.
@fn Whut DaFuq….could this be who I think it is???
@b5 They’re also paid obscene amounts of money and receive continual remuneration in the form of corporate equity in addition to generous severance packages.
They’ll have very little trouble staying in their overpriced homes in the Houston suburbs. Maybe they go skiing in Colorado instead of Switzerland or Austria. I guess we all have to make sacrifices.
@fq he was truly a very cool bloke, had beers with him, down to earth unlike most of the others
@fn DS is that you? Utter legend
If BTC is equally capable at lower cost, then VP and P positions should be moved there for savings of Million$ per position.
I got moved out early 50s, all I did was invite some friends over to La Quinta. But my RSUs paid out so not all bad
Executives have always been forced/PIPed for decades, industry standard. They take their millions and look for a new gig.
There are no protections for anyone.
Our goal is to lower OPEX by pushing job descriptions to two or three lower CL groups over the next 5 years. Lower CL group, lower OPEX for the corporation.
Mobil Oil lowered responsibilities by two CL groups in the 1990's globally. Exxon is just using the same playbook albeit 35 years later.
We are a commodity company so hiring the top 10% is no longer needed in the 21st Century.
KM was probably forced out, but she's probably over 60.
I know so many people (CL27-29) that are hanging on for 55 and beyond. In some groups, there definitely are pockets of people who seem to stick around forever.
They’ve successfully convinced the company they’re actually needed. Bravo!
@cx just need to ride out Darren, Kathy, and Dan. Culture may shift after they leave.
@b5 so even the VPs or some presidents aren't staying past 55 - who gets to stay then? or should we all think 55 is the upper ceiling in age?
So does that mean there few exec CL employees who are NI and NSI every year?
A few years back, Bryan Milton, President of EM Fuels and Lubes, got popped early... I think he was 56-57.
August 2020
@b5 bwahaha… sorry, I have a big case of schadenfreude.
That’s what happens when they have a hand in creating a toxic environment for subordinates, no one mourns their career misfortune.
Nope, even French expat VPs went as part of the asset sale
None
VPs being forced out at 55 just like everyone else. I won’t shed a tear for them, but generally it really smarts because most of them bought the obscenely large home on the golf course in the Woodlands under the mistaken assumption that they would work until 65. They are told in June, leave in July, and those obscene houses go on the market in September. Desperate price cuts the following March. It doesn’t matter what level you are: nobody should plan on being allowed to work beyond 55.
Yes I have seen employees we thought were untouchable forced out. Even VPs are sometimes forced to retire. No one is safe even HR itself. It is harder tk force the powerful out but it is done. The lower you are on the pole the easier it is to get rid of you.
I feel like the answer is none but maybe at the VP level. Even then, no one is untouchable. Anything under has proven to be disposible.
Most of us will never reach that level. This system is designed to sc--w you.