Thread regarding ExxonMobil Corp. layoffs

XTO would be doing fine without Exxon. The more XOM policies and rules they put in place the harder it is for employees to be productive. XTO employees were allowed to do their jobs without having to jump through hoops. XOM keeps adding management in during this downturn when we didn’t even need extra management when it was busy. They could remove half of the management in my area and we would be fine. The majority of the foreman’s job in my area is to give work authorization and conference call meetings over who knows what. The only good thing for XTO employees going to XOM is the pension and they will probably cut that next.

Divest XTO? Hell, yes! Rex paid well over the odds for XTO in the first place.

CVX wrote down AMBU which is basically just like XTO. Just let it go... Get some money for the dividend. XOM needs it.

Yes!! They have been a drag on the company.

Yes

Quick poll.

Should XTO be divested?

Yes = positive reaction
No = negative reaction

LOL!! Arrogant legacy XTO!! They really believe this too.
Legacy XTO wouldn’t have survived 5 years ago had EOM not bought them years earlier. They would have been gone a long time ago, and we would all be better off had EOM not bought them. At least, they wouldn’t be on campus now because they still don’t want to convert to EOM practices & procedures. It’s so easy to see they don’t want to be there too!! They have attitudes and still go by the old way of doing business. Very old school management.

Geez.. don’t blame the tools. The ones making the decisions should be accountable. Unfortunately, it’s for that one assessment item to show he great he or she is.. so.. even if it is a really bad idea, the individual would have to sell it as though it’s the next big thing.. after that.. who cares if it works or not..

Lol. XTO is not bankrupt and unemployed and right now because of exxon's diversified portfolio.

I'm certain legacy XTO employees also wish the acquisition NEVER happened. Exxon has completely ruined a once great company.

In reference to the comment about good EOM workers that went to the XTO side to work and were let go. You ask why?
Because they are not the originals from Fort Worth.
The originals from Fort Worth (XTO) are protected by Miss Ellie Ewing and that is why. Nobody is going to mess with her Fort Worth family/friends because she lets all those go from Houston first. New hires and EOM people that went to work for XTO are gone first.

Nobody Fracks like XTO! We were the best in the business.

Anyone who says XTO is a good acquisition must be from XTO. It was never a good buy and this has always been a dark cloud hanging over XOM. The sad truth is that we also have good XOM workers who went to XTO side and now left on the street without a job. Why.

XOM already increased depreciation of the XTO asset through small impairments and reserve write-downs. At these low prices there may be some additional impairment, but not multi-billion. The analyst is a low level accountant that does not understand the impairment calculation and how reserve write-downs accelerate the write-off. XOM has had 10 years to systematically write-down XTO through normal depreciation/reserve adjustments

There’s hope. The company will go on but not many will care about you.

Leave it to a layoff board touting no hope! Lol.

https://www.worldoil.com/news/2019/10/9/exxon-considering-malaysian-offshore-asset-sale

XTO was a good acquisition.

Exxon Mobil announced in 2018 that it would invest $50 billion over five years to expand its business in the U.S. The company said it will create thousands of jobs as it expands existing operations and adds new infrastructure and manufacturing in areas like Texas and New Mexico.

In its last quarterly earnings report, Exxon Mobil said it was also preparing to start a new project in Guyana. The company estimates the development will yield more than 6 billion barrels of oil.

Another lie to the public. Maybe they will cut that many jobs.

CVX wrote theirs down for Billions already, I wonder when XOM will. XOM's books will go down the drain and will sink it down to the point of no return. Stakeholders are aware of this, I wonder what they are thinking. There is no hope!