Stock buyback is like pi----g in the river. It feels good as you hear the splashing sound as your pi-s hits the water but it’s all gone after that, and all you have left is a di-k in your hand.
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Highly recommend they use their stock buyback to purchase tesla stock instead, as a hedging strategy for our dinosaur company . CEO DW pls take note
Lost a lot of good people???
Who the fxxk cares?! Does DW care? No way! He said that just because the situation is a bit annoying to him to sustain his CEO position and big money there, he in fact doesnt give a sh-t.
All of you including the so called HiPo are all dispensible no matter what, especially in Asia context.
Do note the Bloomberg news is designed for US people. Just because you happen to understand English doesnt mean the pay hike in the article is for you asians. Some SGrean just donnt get it and get lost in the circle of self entitlement and then self blaming.
Sad.
Bo song, because not only dividends are raised. There’s also stock buybacks which results in more cash being consumed. Instead of putting it in investments or giving increments. In the meanwhile; we lost a lot of good people.
Song bo, 6 bil profits, raise dividend to act like big boss, but when come to increment, possibly peanuts, let's wait and see.
Maybe do this grab job leh- Consumer Business Manager, GrabPay? Do this grab not good meh?
Your thinking so narrow. Must be an engineer. Please go and turn the valve and do the LPSA. Don’t come and comment on forum. Already not enough people running the plant and doing real work.
if your only alternative if you kena pip is do grab... then is it that your skillset so niche you can only be valuable in EM? or you deserve the pip? all my friends who kena pip in 2020 and 2021 and took PIL found good jobs that are not grab
we can be neither! we do our best in our work, continue learning, be a good person, take care of our family and friends, shut out the toxicity, take a salary……. And…..
You get PIPed and get told it’s a relative ranking, it’s a competitive pool, your best is not good enough, and you don’t pass PIP and you are out of a job. Or you kenna PIP 2 times more you are out of a job. Then you do grab.
Sad but true.
GIC, Temasek and Keppel also have truckloads of expats, then why fault EM and be salty about bringing their expats in.. this is American company
and don't need to false dichotomy... it's not either focus on being salty or focus on being brown noser. we can be neither! we do our best in our work, continue learning, be a good person, take care of our family and friends, shut out the toxicity, take a salary, look out for opportunities. EM don't owe us; we don't owe it
Hey @6Ynyd+16zEvLP3
Let’s not mislead @6Ybch+16zEvLP3 into thinking that Temasek GIC and Keppel is only hiring locals. There are truckloads of foreign talents in Temasek, just take a look at the employees in those organisation via linked in and you will know the reality.
Yes, @6Ybch+16zEvLP3, you have all the right to feel salty being deprived of the best opportunities in your own land even in own government organisation but I want you to think very carefully. Who should you be blaming for todays sinkies plight? Yes if you are smart enough it’s yourself and fellow sinkie cause why? Cause 70% voted for this. No complains yea?
Peace out.
Hahahahahahahahahahaha.
That’s why say Singapore workers are toads in a well. Can see it from their responses.
GIC and Temasek got so many expats.
Otherwise, agree with everything else you guys are saying. Don’t be toxic. Focus on being a cheerleader to shout we are ExxonMobil, being a brown noser and support your boss in all the decisions and praise him, and then wait to be rated highly in the PA - then get the high increment that Bloomberg talks about! Repeat a few more times and you will be considered for the LCM or CCS job. Simple!
We are ExxonMobil!
A person like you are a shameful to we, Singaporeans. You have attitude problem and toxic to the organization to divide within the company rather than contribute for company. I hope you’re not my colleague, liaising with me daily.
The company is not built by your grandfather and we can’t keep asking all entitlements and privileges. Have you never learnt in school days? How Singapore makes itself strategic location and trading hub, it didn’t become without any effort. Likewise, please also think what/how you’re contributing to the company during this unprecedented time. Why must company need us compared to foreigners here or other countries such as KLTC?
We play the game in home stadium and we have a lot of advantages. But you keep asking referees (your father, mother and government) to give your entitlement and extra privileges. Please have some pride and professionalism.
If company makes wrong decisions, more people will leave and this is consequences of every wrong action. But along the way, management will correct in order to attract talents and retain employees. So please don’t be toxic to us.
@6Ybch+16zEvLP3
cos erm... this is an American company?
you can choose to be salty but it will only impact your own mental health and you spread toxicity vibes to people around you, including your family and friends. I see some colleagues who are like that and people avoid them, but they don't know themselves
you can kpkb all you want but the company doesn't care that people are salty or unhappy, the management can do whatever they want within the laws of this land. life is inherently unfair. we have choice to be constructive. probably you cannot do the jobs of these expats. if you can, and you really feel so damning, you want to work in a place without expats, you can go GIC or Temasek or Keppel...
Very very salty, until my tongue rot.
And whats wrong with questioning? Thought we are trying to reduce costs? Why still have expats? Most of the time, they are just here to check box, have a good time and fu-k off after 3-5 years regardless of results.
That’s why we are in the sh-t we are in. And yet we lay off Singaporean workers while they are still protected. Why not salty?
wah lao if so salty that an American company sends expat here, then go and work for Keppel or Temasek lah.
That’s nice! Hip hip hooray! We are exxonmobil!
I’m sure the 2 expats like laksa too!
Correction - team is staff with 2 expat and 2 Singaporean for now
at least there is 1 SGrean and he came here though
Yeah, Singapore is a high cost country.
Joe B came to Singapore to talk about the great opportunities but only have 1 expat and 1 Singaporeans doing the job. The rest of you apparently or not skilled or low cost enough.
So suck it up and dance to the tune of we are ExxonMobil.
Singapore increment is going to suck. So supervisors get ready to work OT to explain to your folks. Remember this is an American company and what you read on Bloomberg is for the cowboys in the west, not for you cheap labor in the east.
For many who have remained since 2020 PA, they view SHs, DHs and DMs leaving, or taking early retirement, as potential step-ups for their own promotions!
Whoever think this is missing the point? GC has always felt that the CL27 and above has been overpaid, and it’s proven that those people are not leaving. Only one DH leave and there’s a song and dance here. No other DH will leave.
By the way, the younger generation also no need to hope for DH and DM. Look around you at SCP. All these doing such positions are mainly Ang moh or expats. Not Singaporeans. So the younger generations should adjust their expectations and be content with individual contributors for a longer period of time before given a token supervisor role in mid 30s, early40s for those who are rated well.
For many who have remained since 2020 PA, they view SHs, DHs and DMs leaving, or taking early retirement, as potential step-ups for their own promotions!
So stay on they will - especially those who are young and consistently assessed to be Outstanding.
Good luck!
@6Wtqh+16zEvLP3 in your dreams la - Singaporean workforce will halve. You should have observed for the past one year, when the company is treating us like sh-t, there’s still many people hanging around in the company.
Singaporeans are kiasee and the company has a plan B in getting jiuhukias to come and replace any departures. So not scared. Only empty threats on layoff.com, but when it comes to workplace, everyone still dialing in to night zoom calls everyday. Enjoy the depressed wages. You might feel good about contributing to GC’s great performance and her fat bonus and this year.
It’s more likely XOM won’t exist as a company than for it to have a Singaporean SVP or company president. If our own govt claims there’s not enough talents in Singapore and have to rely on foreign talents, why should an American MMC believe in having a Singaporean senior leader.
Please don’t tell me GC is a senior leader. She’s just a messager, passing down notes from the great leaders in Dallas to the coolies working in SG.
And for those Good and below, who have reached/surpassed 100% of their salary reference, it will be zero increment.
Word has it that Merit Increase has been removed.
@6Wpoq+16zEvLP3 If SG increment really halved then can expect the workforce to halve also after Jan.
The commonly quoted general rule of thumb is 5-6% thereabouts. But I personally think it's more. It's really hard to say for sure since it's lumped in together with your standard PA increment. If you are coming off an "Excellent" or "Outstanding" year, you should be looking at 15%.
Do note that this year, it's based off a HR formula and not within your boss discretion. Also, heard SG increment has been halved.
I would say the door was opened and people have seen the beauty of the outside world, it is hard to convince them that Exxon is the best any more.
Many folks endured the su*cker management because they thought the pay was better, once they realize it is not true, the brain drain will still continue. GOOD LUCK WOODS.
Feels like the typical XOM "talk big" townhall session. Our pay is trailing behind many of the good companies like P&G, local banks and shell, for employees less than 5 years that is.
No need to even compare software engineer or IB.
Realistically, you need the pay bump to be more than 30% in Jan to even catch up to those companies. Not even close.
Exxon CEO Floats Pay Hikes to Combat ‘Major’ Employee Attrition
Darren Woods sought to reassure workers during a town hall-style meeting last week that the oil giant may boost pay packages as soon as Jan. 1 to halt a brain drain.
Thoughts?
@6Vyql+16zEvLP3
Well, me thinks that the majority of SGeans can connect better with Biden (or Obama, for that matter) than the obnoxious, re----k Trump - who probably can’t even pronounce laksa (nor having tasted it), or even knew that he had once met his nemesis Kim, somewhere near Cuscaden!
No brownie points for Donald lah
isn't cuscaden a stone's throw from botanic garden? everyone can jog there what... why so salty
who hurt you? he's trying to connect with the audience, what's wrong with that? we can express our unhappiness with company policies without personal attacks on fellow colleagues, fellow human beings. if you need help please call EHAP... sometimes we don't know it ourselves but our negativity has already made us irrational and toxic, and even affect our loved ones and friends
Today at Singapore International Energy Week, Joe B tried to connect with audience by talking about being “Singaporean” via liking laksa and jogging at Cuscaden. OMG! He don’t know only expat run at Cuscaden? Talk about sensitivity during this depressing times. Our leader’s EQ run-over by LPSA.
how much is CL jump increment? double your normal increment?
Talking about salary - with the garmen’s push now to stretch retirement age to 68 (first), and then onward up to 75, it would be inevitable for companies (including and especially EMAPPL) to “pace” our promotions and stretch the period we remain in any one position.
So with about 5-7 years in-between jobs (this being already formally communicated), you’d probably reach CL 28/29 nearer mid-50s and (if you make it), to an Executive by your late-50s, or even early-60s.
There’s actually still enuf runway for many in SG to retire by 75.
Gone are the days of your possibly attaining a DH position before turning 40, or a DM by your mid-40s!
The $p-t pie over one’s overall employment duration will have to remain somewhat constant (corrected for inflation, of course).
Otherwise SGCX will have one too many stuck at CL28/29s in their 40s and with still 30-odd years to go before retiring.
And for Executives, imagine a CL30 at 45 years, and with another 30 years to serve? And especially for an Asian, unlikely to be mass-promoted to beyond CL31, unless they have higher (Global / Corporate Senior Executive level) potentials?
Well maybe I’m wrong, to live to see a Singaporean EM SVP, or President one day?
In your 70s by then, you would have “outlived” the future DW! Haha.
@6Ucom+16zEvLP3,
Good “Go-NoGo checklist” to help our friend decide. It’s all about Financial independence and Security to take us thru our lifetime. We all work for the money to give us, at least a decent living standard. Some will do better than this and all credit to them.
I get the sense that the leadership don’t really care for the people even more now. It’s more of a giant squid game where it’s all men/ women for themselves now, and all are more than willing to throw you under the bus to meet some stupid KPI and score points with Dallas / Houston. There’s no grand plan nor strategy we can execute and it’s just hoping for the best while senior leaders milk as much as they can from the system.
Vote with your feet before it’s too late. I have done so and I enjoy it very much! There’s life outside of XOM, if you look for it. Kept in touch with my fellow friends who quit and haven’t heard one who regretted leaving.
I believe the company is implementing pip and not wanting to commit the % is because it gives the company the flexibility to get rid employees without having to pay compensation in future . Every year , it will ensure there are employees being put in the pip bucket to serve the purpose of audit trail. When it needs to execute the attrition it will carry out without the fear of any ramification or question from the authority. Do you see the game plan? Retrenchment benefit ? I doubt you could ever dream of this … we paid the lowest retrenchment package for the earlier batch VS the industry . Yet we have the cheeks to brag that we over pay our employees … wtf
@6Unqx+16zEvLP3 Reader from EMhC (Houston) here. Excellent, excellent post everyone coming to the layoff site (not just this thread) should read it. Well said.