Thread regarding ExxonMobil Corp. layoffs

@zxi

You and many others are missing the point. I think most would agree cuts need to be made but don’t call it performance based when it clearly is not. I’ve known several to go that had always been solid and in the middle unfortunately this year they were in groups with too many of the same type of people and placed in that 8%. It wasn’t based on performance but on “soft skills”. Which are important but not everyone is going to stand up pound there chest and say look what I did today.

Not everyone is built that way and if we continue to remove those that have different personalities we ended up with a culture that is all the same with no open opinions and different view points. The organization will stifle because original thoughts won’t be valued.

The salary for the corporation (oil price) was cut in half. What would you do if your salary was cut in half. Use debt more debt, cut capex, cut opex. Once you choose not to borrow any more, the choice is dividends or cut low performers. my vote is cut low performers and those with bad attitudes.

Very simple

We stopped caring about our people (investment)

The attrition rate of top two quintiles is very low, after 5 years service. Before 5 years some high performers leave to go home or back to school, but most high performers stay.

XOM was known for investing in its employees. Teamwork was promoted. We now create a culture of narcissism and backstabbing. We reward bad behaviors like harassment and promote those individuals. Anyone not on a management oath seems to fall through the cracks and is force ranked. Ranking seems to matter more than actual work and we wonder why we are here. Another poster described it perfect a “toxic culture” that is only getting worse. You promoted people that should not be promoted. Some were promoted only because they are bullies. Time and again we reward this behavior. We somehow believe this makes them “better” in the business world which is utter nonsense. Bullying does not make a person intelligent. This should be investigated across the company.

XOM was known for investing in its employees. Teamwork was promoted. We now create a culture of narcissism and backstabbing. We reward bad behaviors like harassment and promote those individuals. Anyone not on a management oath seems to fall through the cracks and is force ranked. Ranking seems to matter more than actual work and we wonder why we are here. Another poster described it perfect a “toxic culture” that is only getting worse. You promoted people that should not be promoted. Some were promoted only because they are bullies. Time and again we reward this behavior. We somehow believe this makes them “better” in the business world which is utter nonsense. Bullying does not make a person intelligent. This should be investigated across the company.

We move people too fast. Too much of a focus on making managers and not enough on being experts. Every new hire is wanting to leave if they’re not a CL27 or higher in 6 years. We need to reward expertise again. I say this as someone that was in the outstanding bucket 20+ years in.

This allows generation after generation of people allowed to make poor decision and never pay for it because they know they’ll never see the bad end of the decisions. We need to slow that down and force expertise for the bulk of everyone with a small fast track for just a handful of the brightest.

I’m hoping this cutback makes us get rid of the fat in the middle of “managers” who have to look to others to know what to actually do in all situations. I still believe in the company and think we’ll see it restored but it takes leaders that are actual experts, care about development of their people and hold people accountable.

Darren woods needs to go... I recommend that we use the time in Exxon to update our resume and find jobs.. I survived this ranking with very good. But I am not sure if we will be safe in the next round..

The focus on individual achievement didn’t change once someone was promoted into a managerial role, so if anyone acted in a way that was beneficial to the broader corporation it was only because it lined up with their own individual goals.

Rockefeller said that the most profitable enterprise was a well run oil company and second most profitable was a badly run oil company. Buffett says that a rising tide lifts all boats but when the tide runs out you can see who has their pants down.

Its never fun to work for a badly run oil company when the tide runs out.