How to save XOM

If I were in Darren's shoes....

Starting with all executive management who receive any form of bonus, publicly announce that such bonuses are currently suspended for the foreseeable future. Additionally all executive and senior management pay is reduced by 50 percent for the foreseeable future.

The Dividend will be reduced to an amount that can be paid based upon free cash flow and earnings.

Reduce all staff salaries by 20 percent,

Divest out of high cost assets and reduce workforce needed to work assets that compete in a 40 dollar price environment. Namely sell off the Canadian Oil Sands if possible.

Would love to hear other ideas below. Hopefully not id–tic entitled privileged ideas about your personal salary. XOM employees are overcompensated for the jobs in todays environment and when the company hurts we should all be there to support like a family. I would gladly take a 20 percent pay cut if that meant keeping my job and my coworkers jobs safe. If you disagree, you are the problem at XOM so shut up.

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It is beyond saving. They have decided they will die on this hill

LPS is a joke. People bend over backwards to fill out pointless paperwork, Waste of time. Get back to the real work and make some money

get rid of LPS

Comparison to CVX on Employees per MOEB/D production is not equivalent. CVX has smaller chemical and refining footprint requiring less people. I don't disagree with hunkering down. Can't panic. The oil market will come around and need to be well positioned when it does.

I think to improve the company's profitability, need to throw out the ranking (I'm sorry the Assessment) system. This system directly causes internal competition and only indirectly the competition with the market. It is a relative ranking system versus your employee peers. This incentivizes looking better than the next guy. This causes massive amounts of unproductive (to the shareholder, not the person being ranked) work to polish the apple (stewardships, company plans, PowerPoint presentation reviews focusing on font and graphics).

Rather, move to a system that pays for unit and company performance and thereby incentivizes work and decisions to maximize profit without costing the license to operate. This would meet tremendous resistance as it would upset the status quo.

Cut the salaries by 47% across the board Mr Woods. Remove the future pension contributions. Start somewhere.

Xom can't be saved right now executives are siphoning off as much as possible and everything will be stripped bare

The market clearly has shown they don't have confidence in XOM relative to peers. I got out voluntarily and now get to watch titanic sink while I'm on a new ship, it's sad really

@esm+173txCl2 Blah blah.. another doomsday prophet. If you are so good, you would have been marked as CEO or his assistant. So get back to work! We are in good shape and don’t need to change a thing. Just improve the performance of the bottom 8% and we will double our earnings to be better than Chevron!

Get back to work! So less negativity please.. we are winning!

SG&A for the entire company is $12B/yr. Cutting bonuses or reducing pay will not fill the hole. We produce ~4M OEBD with 78k employees, compared to CVX who produces ~3.5M OEBD with 48k employees. So any fix will need to address earnings/headcount, and yes that unfortunately means headcount.

Selling Oil Sands makes no sense in a disadvantaged market. Plus, at $60 prices, the Oil Sands is one of our Top Ten fields.

This fix WILL require massive asset sales - but why would we sell NOW in a disadvantaged market?

Plan is to hunker down until price returns (people will fly again), and defer capital spend. Lower headcount to competitive ratios. Consolidate and eliminate work.

We are a commodity company whose market cap is realized by dividend yield. So mgmt does not want to cut dividends. I disagree, but even completely cutting the dividend (total spend $14.8B/yr) does not fill the hole.

So we hunker down, trim waste, reduce headcount, defer capital, freeze benefits, sell assets (not Top 10 assets).... and wait until price normalizes with return of demand.

Time to raise wages of senior management for their fine leadership in thinning the herd without paying too much for it. #winning

@kwl+173txCl2 And how am I going to maintain my Marriott points?!

Have a yard sale and sell off all the furniture and art work on campus

Sell the campus

Cut pay 40% and have everyone work from home

Cut the pension

Reinstate a 2% 401K match.

No more travel in business class and only negotiated hotels allowed oh and VO approval to travel.

Increase dividend 20%

Sell stake in IOL

But Oxy

What a prize tool , such a silly posting, go back to work

Alot of good ideas floated up there.
I like an Aramco buy-out for about 50% of the business. Just put a crown on the Tiggerus.

The rest:
Chemicals - divested to those that know how that industry works. Based out of Taiwan or perhaps Singapore initially. Hasbro / Mattel.

Plastics - obviously to Nestle in Switzerland.

Fuels - so many old refineries which have no more depreciation. Sell them off ,one by one, to the regional NFL team-owners. Bidding wars for the frack-fields will look like the off-season. Gotta let them lose a little money for tax purposes. Though the Patriots probably more interested in Lubes.

Lubes - Keeps those engines running and coolants for the Tregiggle-byte servers running the economy now. Amazon consortium the likely buyer.

There you have it. One last dividend - 100% - in 1Q2021.

Thankfully you are not. Who says ExxonMobil is in trouble, we are perfectly fine, even better today comparing to the last 20 years (didn’t you read the DOW response, we don’t need to be part of it)..

EM should keep PIP-ing it’s employees and issue more bonds to fund the dividends.

We will be fine..

Thread regarding ExxonMobil Corp. layoffs

How to save XOM

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