I came across this article today. It talked about how Exxon went from laying people off with PIP to now cutting the 401(k) matching contributions. Has me wondering what is next? Check out the article here https://techstaffer.blog/2020/08/05/first-exxon-layoffs-now-loss-of-401k-matching/
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Don’t do this to yourself. I am not saying this as a “disgruntled” employee. The money is a fast up and down and in the end not worth all of the stress you will endure for it. All you need is to end up with one Sup or Mfer with bad ethics to bring you down. I met so many people in the company with serious health issues for their age. This did not make sense being they ate fairly healthy and exercised. Over the last few years I realized It is the long term effects of a high stress environment.
Don’t do this to yourself. I am not saying this as a “disgruntled” employee. The money is a fast up and down and in the end not worth all of the stress you will endure for it. All you need is to end up with one Sup or Mfer with bad ethics to bring you down. I met so many people in the company with serious health issues for their age. This did not make sense being they ate fairly healthy and exercised. Over the last few years I realized It is the long term effects of a high stress environment.
My nephew got a magnificent job offer from XOM but has informed them he would not be coming. I can’t blame him as his major concern is the “Feast or Famine” Oil and Gas market that has caused his father, uncles, and sister to place multiple bouts of unemployment in the past decade. It’s just getting too unstable to gamble on 2-3 years of good pay.
I wish you all the best in your job searches (if you are on them) and hope those that are still there employed survive the storms.
Good luck out there everyone
Wow. Any current engineering students or recent grads reading these threads. Word of advice. Do not enter this industry. It will destroy you mental health, your family and any sense of self. Trust me. I’m 45 and facing a lay-off in a company that will not match my 401k after October. New hires - the reason the 401k’s are great is that employers will give you a percentage match to your contribution. In the absence of this there are no perks of working for this EM. The fact is this company plays out a hunger games every year for rankings and your performance will have nothing to do with how you rank.
@tzk agreed. ExxonMobil has always been perceived as long term where good and bad times we ride it out together. Not the best salary but stable. I’m appalled by what they have done now.. even shaming their employees to preserve Exxon’s imagine.
This crisis will pass but I’m sure this will be remembered. Maybe that is how Darren Woods wants to double his earnings in 2025.. I’m not sure how it will happen though..
And ExxonMobil made it worse for you guys stating that you have performance issues. What a shame for a company that is trying to lift up its “We are ExxonMobil” culture. Good luck with that.
What's next is getting your resume in order and looking at industries outside of Oil & Gas.
BP is cutting 30% Houston Employees
Chevron announced 15%
Oxy might not survive (and layoff all of former Anadarko in the process)
Those are just a few of many examples.
Housing market in Houston is going to get bad as well.