Thread regarding ExxonMobil Corp. layoffs

Most Affected and Least Affected

Most Affected

Maxed out mortgage, bought 10% more house than he can afford.
8 yr Car Loan @$550+ per month
Assumed sh!t doesn't happen, not in the oil industry, or not to him. Only happens to other people.

Least Affected

Bought 50% less "house" than he could afford, small mortgage payment
Bought car he could pay for with cash, or very short term loan. Zero car payment
Knows sh!t does happen, especially in the oil industry, and can affect anyone, including him.

You can't control what your company does, but you CAN control how you spend your money and live your life. Imagine having 100k+ in savings right now, zero car payment, and a minimal mortgage payment.
You just lost your job, but you're not instantly in financial duress staring at a food bank line within weeks. or having to to hit up friends and relatives for money to maintain appearances.

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| 4296 views | | 16 replies (last October 30, 2020) | Reply
Post ID: @OP+17FJ2M6k

16 replies (most recent on top)

It’s not worth it. People who don’t have their sh– together will always have excuse for why they can’t survive on less than 200k/year and it’s never their fault. Just do your thing and be happy knowing you and your family will be okay.

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Post ID: @1kjv+17FJ2M6k

@ora+17FJ2M6k

You get what you vote for. The US didn’t want single-payer or public option.

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Post ID: @1lsl+17FJ2M6k

There is life outside XOM. You will get through this. You will realize what is really important in the meantime.

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Post ID: @1okz+17FJ2M6k

The people affected were not mostly bad performers. That has been clear. I hope the person suggesting it is one of the first ones to be escorted off campus.

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Post ID: @tsi+17FJ2M6k

I wouldn’t laugh at anyone that has to go to a food bank. There are people with children that did not have the same luxuries As some of you and I am sorry they have to endure this sh–show.

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Post ID: @lzy+17FJ2M6k

People saying, "Just sell your house"

Umm, ok, now you have no place to live, are unemployed and unable to get a new mortgage.

You will even have a hard time renting, since even landlords want to see some financial stability in their tenants.

People aren't too bright.

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Post ID: @lgd+17FJ2M6k

Least affected— The people who work in the field who did not believe you had to put yourself in debt to make a living. Somebody has to turn the valves.

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Post ID: @hlf+17FJ2M6k

Sure least affected, the Obamacare will cost you $24k on top of another 12K in just real estate taxes and insurance. Hope your kids aren't in the private school and you have an independently wealthy parent ready to take you in their arms.

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Post ID: @ora+17FJ2M6k

It’s hard to buy a new (smaller/cheaper) house if you don’t have a job. Employment is a requirement for loans.

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Post ID: @phb+17FJ2M6k

I wouldn’t assume you can sell your house quickly, especially if interest rates increase (long past due). With layoffs across the industry and elsewhere due to covid, there will be more supply and less demand.

Best of luck everyone.

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Post ID: @axz+17FJ2M6k

Food bank lines? The most affected can always just sell off their large assets like cars and house and downsize.

They’ll take a loss but it’s not like they are going to end up at the food bank lol

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Post ID: @jws+17FJ2M6k

The Reactions to this post are a great indicator for what % is "most affected" LOL!

This post is just financial common sense, which these days isn't very common. OP isn't attacking anyone, but it will feel that way if you're up to your ears in debt and now stressed out due to your own bad decisions.

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Post ID: @uyo+17FJ2M6k

Most affected = Bad performers

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Post ID: @rjp+17FJ2M6k

Doesn't matter if you have been conservative with spending or not, healthcare cost will bankrupt BOTH group of folks if you are 60. So buckle up and look for some gig that gives you that healthcare and stop being so judgemental.

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Post ID: @uce+17FJ2M6k

most affected ... people laid off

lease affected ... people that kept their jobs

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Post ID: @uui+17FJ2M6k

@OP+17FJ2M6k It's a great time to be judgmental... (sarcasm)

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Post ID: @fon+17FJ2M6k

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