Thread regarding ExxonMobil Corp. layoffs

@2qzi+16Rdq7df new crude unit is on hold indefinitely most likely all to cover the dividend if you exclude bpex the biggest investment I am aware of is compliance driven flare reduction, that's great but that kind of forced investment. BMT is heritage mobil and will get sold in the future unfortunately due to under investment relative to the market.

2qzi+16Rdq7df

To jump in...the billions were spent to upgrade the Permian WTI...no Permian growth no BLADE.

Also no fuel demand no BLADE. It’s well known the world has too many refineries. Creating a vertical was just a smart way to limit the bleeding in Permian.

Chances of it being sold are high. If you are in the selling mood you have to sell some parts. Also there are all types of complexes that have different owners operating within. No reason they can’t slice and dice lubes out of the rest.

@2cxg+16Rdq7df company spending billions on new crude unit in Beaumont to turn around and sell it. Yeah, brilliant deduction.

Have you even been in the area in the last decade? There has been quite a bit of investment in both BPEP and the complex.

You are probably right though, company is attempting to sell assets left and right to cover the dividend. Shareholders don't realize that EM total revenue is rapidly depleating. Soon we won't have anything left to sell nor any sites to make any more.

Next wave reaching Singapore soon...

@1luo+16Rdq7df bmt complex will get sold first to pbf at some point. Existing BPEP which is not apart of complex, they only make money in specialities yet they don't invest in those areas (really since 90s) while competition is building sites to exceed our speciality production. Meanwhile the cracker (also expanded in 90s) now has to compete with Corpus and other greenfield. This is all assuming society consumes more styrofoam, single use plastic, and lubricate our vehicles that we hardly drive anymore. All I can say is good luck!

Things are going to move fast stops the bleeding once the stock drops below $35, already at $37

@ksj+16Rdq7df you're a really dumb cause you don't know how to read. I don't work for exxon. Hilarious lol

Time to cut all salaries by 50% and remove any new pension contributions.

Going to shut down all refineries losing money and sell for sc-ap. I am an under paid CEO

Country Mgr just confirmed no manager/supervisor will be PIP since they are cream of the crop. Even thou we all know some clearly doesnt know what they are doing..

So dont have your hope high on seeing your bosses leave before you.

I am happy to see my lady supervisor receiving her PIP. She has a busy calendar capturing public holidays and team members’ annual leave, networking with LTs.
Celebration time if she receives her package next wave.

Beaumont complex has not been losing money for years, it's just the refining arm. Good thing chemicals is there to make up all the money (the point of an integrated complex).

Shutdown the refinery, you have to shutdown chemicals also.

Beaumont complex has not been losing money for years, it's just the refining arm. Good thing chemicals is there to make up all the money (the point of an integrated complex).

Beaumont refinery has been losing money for years. Will be shut down and metal sold for sc-ap.

Heard a GPC manager in a forum say layoffs are coming. Rumor is November 1 to comply to WARN act, but might not be linked to performance...maybe be entire arms that can be outsourced to KL/BTC.

This stupid company cannot get rid of stupid people fast enough. The worst ones unfortunately are still safe in the company

People here posted layoffs were coming weeks before people were PIP’d. No one listened and here we are.

The comments in this thread shows prime examples of arrogance of people within the company.

The same arrogance and blindness to blatant warnings (like this thread) that got the company in the position we are in as it is.

We are quick to dismiss someone and ignore that the music in the room has stopped.

There are no more "middle groups" to be "lower ranked" in.

I've heard supervisors are next in line. What value do they provide?? Nothing. The only thing I've seen from them is a busy calendar to tell the world their are busy. Busy doing what?

The next wave will be a high focus on supervisors and managers. These folks will have a tough time finding a good job. Their original skillswt is obsolete and their Exxon management experience is worthless at other companies.

LMAO, how is this news? DUHHHHHHHHHH

@koh+16Rdq7df

Per your comments, you deserved to be PIP'D

That is great news to my ears. Exxon employees never cared if my livelihood was threatened and without a job, why should someone else care about you ? Arrogant control systems manager from UT Austin flaunting is ego and high salary is something I will never forget. Hopefully, I never see exxon employees where I work now or in future, I'd never hire someone like that and I'm informing HR if I ever see this arrogant person there. Yeah, I'm salty/sugary whatever...I treat people the way they treat me.

Putting the word "CONFIRMED" in all caps doesn't give you credibility. Either share your source, or shut up and stop spreading fear.

PIP or this is just straight up layoff?

Op sounds legit, XOM getting rid of worker bees so high ranking managers are left to manage no work

Don’t know OP. But the picture is pretty accurate. Sorry sometimes sources cannot be shared.
Of course it makes sense to doubt statements like mine or OP’s

I don’t know, with the things being the way they are lately I don’t think this is trolling. Any heads up is appreciated IMHO

No denying we are in a sh–ty situation as a company

Hughes is mostly EMIT with a handful of staff functions.

Contractors are still at Hugh's.

Seems like OP is trying to troll with inputting a name as "Direct from Bryan" like it's via Skype.

Not surprised but what is your source? What is at Hughs anyway?