Thread regarding ExxonMobil Corp. layoffs

My guess is that more Singapore layoffs will be required in 2022 and 2023.

ExxonMobil has invested more than S$25 billion in fixed assets in the Republic, according to the company's website. Singapore is the Asia-Pacific hub for ExxonMobil's downstream and chemical businesses and its integrated refining and petrochemical complex in the country is the group's largest such facility globally.

It is about time that we get a return on our investment for S$25 billion especially in a shrinking export market in Singapore.

Oil and petrochemicals exports are shrinking. Singapore's total merchandise trade fell last year, mainly due to a 31 per cent contraction in oil trade. Oil domestic exports contracted by 28.1 per cent while re-exports declined 5 per cent.

Meanwhile, petrochemicals exports fell 8.1 per cent year on year in the fourth quarter of last year, and were among the top contributors to a decline in non-electronics exports.

Source: BusinessTimes.sg

Folks with RSUs, any idea how to access the dividends paid to the MS accounts? It seems to be stuck for me and there’s no way I can get them out

Just leave la. Since it’s not worth much: why come here and humble brag.

I get stocks and even I’m not happy. I actually gained a lot more from Apple vs my XOM RSUs. Headhunters also sn----r when they heard I have XOM RSUs because it’s not worth a lot and can be easily bought out.

I can’t comprehend why the management think that we will be happy with this the earnings?

It’s not reflected on my paycheck and benefits. I don’t get stock from the company as well.

Today all leaders talk the same language with their internal agenda and they wont share the truth behind, and so called culture change we are ExxonMobil sound really disturbing and disgusting, on paper looks good in every words but in real world it sound so fake and so dirty. Many leaders have their own 'power' thinking and 'manage' ppl by managing self internal created politics thats why the manager looks so damn busy, but the fact is does not improve any bottom line. Thats why it is sinking ship to many ppl while looks great for executives and higher share price means better pocket out good compensation. For many young and bright future grads broaden your skillset and look for alternatives the forum is good place to seek some genuine advice. No one cares if you stress out or whatsoever they just want end results within deadline and claim the success, so they can climb up get good assignment. This is real. Sound like hard to believe for many young folks here. The working bees are the one doing real hard work but rewards go to managers poor technician gets hands so dirty yet didnt get bonus. Treat everyone differently with disrespect and rewards management is key priorities. Good thing is nowadays more opportunities outside so dont have to hang here.

Cut here merge there, cut health care, cut increment and the list goes on and on… and merger with F&L and Chem. What’s else inside the magical bag? HW3 & TMTS on the way…

5PM already everyone please pang kang turn off your laptops. Please don't spoil market, MPTs no OT pay.

If our overlords in the US can’t see hope in the EMCC forum, what chance does Singaporeans have, given we have to serve them. The story is probably going to be a sad one, but have a very positive spin to it and hope that you don’t notice it.

By the way, the best part is if you notice from Jack’s forum yesterday in Singapore, he can’t even be bothered to put up more than 1 slide on Singapore and that he can’t answer questions on people development after 3 tries.

So I don’t know which is worse. You decide by voting with your feet then.

The consolidation is an obvious downsizing masked with positive spin to fool outsiders . If u stay long enough in XOm, you shd know what’s is coming . I heard abt this possible consolidation 5-6 yrs ago even before the F&L merger. Can’t you see the strategy of the company going fwd is to keep reducing cost since the top line cant increase ( bec all our so called leaders are clueless how to improve revenue ) . The rubber band concept . Can’t push up the upper end of the rubber band then push the lower end of the rubber band . It doesn’t take high paying exec clowns to know that . This is a clear mark of a sinking ship…. Keep cutting cost to maintain the margin … to keep shareholders happy whom obviously include the execs ( bec large part of their compensation is pegged to company ‘s shares) what abt you and me the worker bees ? Continue to be psycho and drilled to count our blessings that the company is keeping us employed , paying us “ well” blah blah blah…. The same song and dance that our execs and so called “ leaders” are so well polished to deliver , preach … take control of your own destiny younger folks … have the guts to venture out . No venture no gain…. Why Set yourself up in a sinking ship… can XOm really pivot out to renewable ? Can a man serves two masters faithfully at the same time ????? Search your soul… whether is it still there or with the devil 😈

What was so bad in the US EMCC forum?
Looks it had been a been a very hot topic that many people just think it was packed with lies.
Same will come to SG, for sure, can be worse.

Change the name to Joker

Jack has said there’s more opportunities because of CS&I, even though he can’t give concrete examples. Don’t worry, there’s still compete to win. So Hurray!

Are you sure these are called hi-po? Self “high” and needs to reflect themselves in the mirror, no substance and can’t survive in the real world. Some 2nd line had been layoff since last year and still unable to land a job till today.

The arrogance of EM management is hard coded in their DNA because of the way they foster and choose their leaders.
Young and fresh out of school, within a few years then became a supervisor, donnt even know about the real basic on how to PROPERLY talk to people with decency and respect. Yet as chosen ones, they felt they were in the right track and did the right thing that made them so "successful", which again reinforce their perception. eventually they became leaders with no compassion, no respect, without knowledge of outside world, with little knowledge of how to be a decent person in reality.
Applies to>95% of EM leaders. The rest 5% have left or plan to leave.

Remember this , many of the so called execs , Exxon is the only company they have worked for all their life since graduation! Likewise for the many so-called hi -po. They haven’t seen the real world outside . They are very shielded from the outside world. In the past , this company is able to provide you a career from cradle to grave … but this privilege has been robbed away by the changing tide. If you still hold on to this sinking ship while you still have a chance to start afresh , you only have yourself to blame. If you have a family of young ones to feed , you are disrupting their livelihood too. So be wise … ask yourself can u see where this company is heading in 10 yrs ? To be it’s getting foggier by the day. DW and GC are all nearing retirement … they will retire with big fat cheque like all execs when the ship finally sinks , what abt you? Where wil you be ? Bottom of the seabed ? If it’s only yourself , that’s fine , not when your dependents have to go with u. I am too old to jump off the ship . When the ship sinks , I have gotten myself a buoy , I can stay afloat and swim to the shore . I wouldn’t retire well like the execs but I am lucky I wouldn’t sink to the seabed likewise for my family as the kids are all grown up. But for those in the late 30s and early 40s I worry for u if u still thinking of hanging on to this ship… sigh 😔

@8Bwma+16zEvLP3 you know bonus is discretionary right? Mgmt already overheard technicians are interviewing and securing with competitors. Disbursement of bonus may be split into periods to avoid such disruption.

What is the implication of merging EMCC into EMPS? product solutions...

Does that mean merge of EMCC and F&L?

Can't wait to jump ship after taking my bonus mid-year!

Yes, that’s correct. I agree wholehearted that’s it’s a sinking ship. It’s so funny that a lot of the execs and senior managers are saying I’m excited with this new plan to create product solutions but there’s nothing concrete in what they are excited about. More importantly, when I ask around, no one else seem to share that excitement. It’s just an exercise to please DW and help someone pad his PDS for the year but how are things going to change. Lastly, you heard it here first that PIP is going to be 5-8% and not some lower number because they still need to get people out of the system. Listen to the Jack and Neil show- the first Q&A was on workforce reduction and there wasn’t a clear answer given to it. So get ready to buckle up for an exciting ride.

Post ID: @8xedt+16zEvLP3,

Not that they are suckers but rather many are “stuckers” . Stuck in the company cldnt get out. U think the skill set is so transferable . Only if it’s within the oil and gas industry , maybe . I will never ask my nieces or nephews to join this company … the writing is on the wall . Fuel collapsed with lubes , now F&L collapses with Chem. There isn’t any more rabbits in the hat to show the magic . So be wise … don’t listen to all these execs talking c**k . They literally want to young to join to steer the sinking ship until they comfortably retire and you folks left in the sea or shi (dead in Hokkien ) . Wake up , while u still have your youth , pivot out when u still can. Bite the bullet in exchange for longer runway. Don’t be short term in thinking …

And yet there’s still lots of suckers willing to be employees here. No other choices I guess.

As one executive mentioned to the new hires 30 years ago,

"It is far better to be a stockholder, than an employee."

If you are working for Exxon, you are a poor man dude. This is a company that claims stability in exchange for sh---y wages, but of course, management will still claim that it’s stable and PIP is to help you improve.

Let’s see how many years of 8% PIP before the fools at working level wise up and leave this sinking ship quickly.

https://9gag.com/gag/amgvV22?ref=ios

Let’s go!

If no layoff package then PIP will be adjusted from 8 to 50%! Good luck to ELT/SLT and singalong this is a great tool!

On positive side, It’s actually a very good move to trim away layers of fat. After slagging many years and hope that this sleeping tiger will be very fit to run for many years. Esso

Short answer is no.

So please don’t give too big an Ang bao hor. Better save for a rainy day.

No layoffs required when there’s PIP to utilize.

With the F&L-Chem consolidation, will SGCX still require:
2x Manufacturing Mngrs?
2x Process/Operations DMs?
2x Technical DMs?
2x Process Engrg DHs?
1x CFO + 1x SSOC DH?
2x Lab Mngrs?
So many RLs?
And the list goes on …
Redundancy galore!

Restructure??? Long story short, layoff la…

Are You Ready!!!

... I am not.

Exxon announces cost-cutting restructure, plans to move headquarters
PUBLISHED MON, JAN 31 2022 1:42 PM EST
Reuters
WATCH LIVE
KEY POINTS
Exxon Mobil will combine its refining and chemicals businesses into one, and put its energy transition business on the same footing as its other operations.
The broad restructuring marks its latest cost-cutting effort after activist investors seeking to boost returns and address the energy transition won three seats last spring on its board.
The restructuring will not impact fourth quarter financial results, which the top U.S. producer reports on Tuesday.

Consolidation of ref and chem is still ongoing. What a news to greet the folks in the new year despite the high oil price. There is no job security guarantee. EM is an organisation that works for shareholders. It now needs to satisfy both the old folks who cares about profit from fossil oil and play the green energy game. Musical chair game continues, focus to make yourself visible, work hard alone doesn't gurantee your future!

Mr. Wood (kayu) is showing off to the world that he is the best CEO for the investors by performing cost cutting measures even with $90/bbl oil. I just realise he looks like sponge bob square pants. You know...squarish face.

Aiya people know that regardless how good of an engineer you are you still can’t bet those peers in management.

At the end Hi Po will all go management as the bar Exxon set for management is far lower than technical specialist.

Why need to on stand by 24-7, when you can work the usual hour and focus on looking good ? The B:C is so clear.

EM really betting on many wrong horses, fast track SLS in 5 years and move them around for a few roles and promote them to Manager. No wonder many always makes wrong judgment. Sitting at the ivory tower and collecting big fat check.

Oil may hit $150 and a surge could 'definitely escalate an inflation scare and with up to 10 times interest rates adjustment before 2025, the future will be as bad as 2008.
High oil price will be driving more people to switch to EV which resulted poor downstream earning.

Looking forward to more 3-month AWS years and double-digit% increments to come!
Lai, lai ah ….. si beh ho tan!

We Are ExxonMobil
Yeah !!!

So after all the 2020-2021 head chopping, it looks like alls well that ends well!
The ship has stabilised and with crude now touching $90/b, it looks to be all good now.
Dallas is happy and so are our shareholders.

Everyone is happy and no one is leaving. Working hard to show Jack a nice picture when he comes in 2 weeks time.