I’m really hoping they give us a chance to leave voluntarily because I would take it immediately. Things have been so tense and uncertain, it feels like the best move to step away before the stress really hits hard. Having a way out would be a huge relief and give me a chance to reset and find something better.
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@nf No. Talk to anyone in the UK office - they were only asked if they would be mobile to move to the refinery. It was made clear to them that saying “no” was not a voluntary severance. They will likely be made redundant (with a redundancy package) but that is not a sure thing because UK employment law is pretty strict on making sure the company retains as many people as possible. There is uncertainty all the way up to giving people actual notice. A lot will be let go though.
@gm this is pure gold, good ol Mobil legends. No wonder the Mobil folks out here talk fondly about their Mobil days and bosses, even at their retirement 2+ decades after the merger. Esso much less so
There is no voluntary and get paid to leave. They will tell you
@hz wasn't there voluntary in UK?
xom will downsized kltc and houston office next as BTC will be expanding...
We’ve just downsized two offices - no voluntary severance there. Don’t hold your breath for voluntary if it happens again here.
The culture of leaving dates back to well before Exxon acquired Mobil in 1999.
In 1999, Mobil Oil had a poison pill policy on the books to make it difficult for someone like T. Boone PIckens from acquiring Mobil Oil in a hostile takeover bid and then selling off the assets to raise cash.
The Mobil Oil poison pill policy was as follows:
(1) If any Mobil Oil employee was required to move more than 50 miles from their current location after the hostile takeover they were eligible for a VOLUNTARY ENHANCED SEVERANCE PACKAGE.
(2) The voluntary package included double the existing layoff package. If you were asked to move more than 50 miles, you were eligible for 4 weeks of severance per year of service. For example, if you had worked 10 years for Mobil Oil, you could voluntarily receive 40 weeks of pay and leave the new ExxonMobil Corporation. The cap on the volunteer package was capped at 18 months severance for non-executives.
(3) For Executives (CL-30+), the same 4 weeks of pay per year of service applied but the cap was 2 1/2 years severance.
(4) In Mobil Oil, you could retire at the age of 50 with full pension. It was a no-brainier for everyone that was 50 years old with 20+ years of service to take the volunteer package and retire. The job market was excellent in 1999 so many of the employees especially management that was CL-30+ found a job 60 days after retiring at the age of 50.
(5) The Exxon employees that were required to move more than 50 miles after Exxon acquired Mobil asked if they could receive the same enhanced severance package as the Mobil employees. Lee Raymond, the CEO of Exxon, now ExxonMobil famously said to the Exxon employees, "We do not pay people to leave this corporation."
(6) Also, it was not widely known, but any Mobil Executive that joined the new corporation could receive the enhanced 2 1/2 year severance package up to two years after being an ExxonMobil employee. All the executive had to do was prove that their compensation package after becoming an ExxonMobil employee was less than the expected compensation package under the Mobil Corporation Executive Compensation package. There were Mobil Executives that made sure that after joining ExxonMobil that they were ranked in the bottom 10% so that their overall compensation was less than the compensation under Mobil Corporations Executive Plan. These smart Executives who were over the age of 50, retired with 100% of their pension and received a lump sum 2 1/2 years cash severance package two years after being an ExxonMobil employee. These Executives left laughing all of the way to the bank.
Bottom line, we will not receive any enhanced severance package in 2025 or any other year to leave ExxonMobil. Exxon's culture prevailed over the Mobil Oil culture that existed in 1999.
Go, Leave, Say-Bye, Adios, Au revoir, Alwida
You don't need a toxic company, the company does not need unproductive you.
Why give packages when they can select who they want to force out through low rankings and no pay raises over time?
@OP about zero chance of any packages in the U.S.
It is embedded in our WAEM culture four decades ago that "We do not pay people to leave this corporation."
Easy, just resign. Why should the company pay you anything, if you don't want to stay.