Thread regarding ExxonMobil Corp. layoffs

I think the age distribution in geoscience is older than other parts of the company. Maybe retirements will reduce the PIP pain over the next several years. Norwegians must work beyond 65 under norway laws but we sold off Norway, so there are few Norwegians left. Germans tend to retire older also because of their retirement laws. XOM should sell German assets because German benefits are very high even compared to US.

We used to joke when Raymond was CEO that Exxon had only 3 essential people. 1 CEO (Raymond) , 1 admin to handle his travel and paperwork and 1- HR person who executed his stock options. Remember Raymond cut 40,000 people right after the the merger between 1999 and 2005. From 120k to 80k employees. This cutback is a cake-walk compared to past ones

Soon Exxonmobil will be Guyana and Permian that’s it.
They will only need 300 Geo’s not 1000.
More to come on lay-offs

Advisory roles = another position that should be banished

If delivered results or actual performance were the deciding factor, you’d expect the Chief Geoscientist to get the boot.
But none of this is about accountability.

Yes, the company’s can probably use less geos, especially if the game is just to poke holes in a pattern in the Permian like it was a factory, regardless of resource quality or common sense, and hope for the best.

Everything else will probably be outsourced (seismic acquisition, processing, inversion, ops) and by the bit will be just acquisitions. Ex-managers are great at those Advisory roles, buying at a premium, supported by hunches or flimsy work.

Rock, paper, or scissors? Rocks have always been overrated.

11 year UIS geo. Took the money and have a couple of months lead time on job searching over you fools, plus don’t have to put up with the drama, lies, abuse, and stress in the sinking ship.
You’ll join soon enough, “high performers”, probably without the “incentive”.
Happy Hunger Games!

10 year geo here who took the money and left. UOG.

I personally know 11 geos that are out the door.

"Finally, now that the geos have an engineer as president, it will be interesting to see what happens; whether there is even going to be an exploration program."

So true! Engineers love oil industry high salaries, but hate the uncertainty of how this is achieved - via exploration gambling away. So easy to destroy exploration via the linear engineering mindset!

Exploration needs about 300 geoscientists . Plus 300 in production/dev. Will need to reduce by 30% over next 2 years from retirements and cutting low performers

UIS had to make room for the hundred or so illuminated expats returning to the mothership. Of course they are laying off geos, new hires and experienced people alike.
Jobs programs like thematic studies, regional studies, and the endless rehashing of the same opportunities can only take so many.
Finally, now that the geos have an engineer as president, it will be interesting to see what happens; whether there is even going to be an exploration program.

Nah. Exxon does not need technical expertise. We just need Darren Woods, a visionary that double down on traditional approaches

UIS. Haven’t heard of any geos on PIP surprisingly. Possibly they all took the PIP instead of the 3 months?

I read somewhere that only 10% of geos get 90% of the results. Except management can’t figure out which ones they are so they keep all of ‘em ^_^