- 01% chance this will happen in the US
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Those of you at the campus are overhead. Like it or not, your Assad are gone! What can you do to help facilities run reliably?? That’s what I thought, not much! Don’t let the door hit you in the a– when you get shown the door!!!
What does HW3 mean?
What can we say? Your manager likely lives in la-la land or drinks algae cool-aid. My VP in the campus has been pretty explicit. Everything is on the table.
Idk why the message isn’t the same. I am in Refining and Supply. Maybe cuts won’t the same across all BU’s. Maybe cuts will differ from site to site. But it could be our site management is a bit more transparent than others. I am only relaying what was told. Maybe it’s just specific to our site. Who knows?? I just wish they would get on with what they are going to do already!!
: @quw+1777U3IZ I am just trying to understand why my management is not sharing the same kind of info that your management is. We do have regular meetings With them and people have asked questions about the workforce study program and no one has told us there will be deep cuts. We know there will be a reduction in place but they have never told us they will be “deep”. So I’m just trying to figure out why our management is telling us a different sides of the story.
Believe what you want, but I am telling you this is what our plant manager said today. I could give two cents if you believe me or not. I am just relaying what was said. If you think we can keep bleeding money without consequences, don’t know what to tell you. Our site is expected to be in a negative cash flow for another 12 to 18 months. This coming week, half of operations is completely shutting down. What are you gonna do with all the extra people??? Your gonna cut heads!
It’s interesting how folks are stating that they have been warned of deep cuts by their management yet I’ve not heard of anything. One would think that same message would be shared with everyone across the organization. Could be a troll.
There have been years added since 1986. Around the merger for sure. They need to cut now, not wait til next performance cycle.
Cheaper to fire low performers. EM will have another of of bottom 8% in just 7 months with new set of rankings. EM has not added years and service since 1986.
Deep cuts are coming folks both in upstream and downstream. We were warned today. Wether it’s in the form of voluntary or not, they are coming. Possibly over the next 3 years. We were informed of deep cuts to non essential personnel and that the HW3 study will be completed by year end. Not good news for anyone. If I was over 55, I would be planning for an early retirement.
Some flawed logic below - any retiree not taking Lump Sum should pip themselves.
That's cash shot out the barrel - immediate from the books.
Why do voluntary when you can do it for cause?
Bad ergonomic practices, for example.
No packages.
Do you think the package that’s offered (if any) will be dependent upon how many the company wants to let go. For example: if they want more people gone perhaps offer a better package. 3-3-1 as opposed to 2-2-1. Thanks
I hear a lot of rumors , but can't tell if there is fire behind the smoke or it is just wishful thinking. The only thing in common is it will not start before November (when pips wrap up) and will be over in December (to book this year). Coming up. Meanwhile keep those resumes updated.
I think it’s possible. Since the age and additional years are part of the pension, it will come from the pension plan, not cash on hand.l so it’s not like they have to layout all that money now out of the budget.
The first number is years added to service. The second number is years added to age. These are meant to make pension payouts easier to take. The third is number of weeks pay per year of service (generally capped at a year or something). The package is meant to incentivize folks close to retirement or perhaps with high salary to leave voluntarily before they have to resort to straight up lay offs. I think the 2-2-1 makes sense for them because it isn’t much incentive for early career folks and is minimal pay out for late careers. They will want to shed as many late career people as possible while keeping the cheaper young people who will be the future of the company. As a young person, I’m hoping for 3-3-10 lol.
can someone help me out with what those numbers mean? thanks
I’ve heard an internal rumor it’ll be 2-2-1
Nope
Wishful thinking but it is not going to happen. XOM is broke!!!!!!!!!!!!!!!!!!!