Thread regarding ExxonMobil Corp. layoffs

@1frh+17v7kqBE I hope you at least got a bonus if you were working 80 hours / week... otherwise, i don’t think you’re in a position to be laughing at other employees. Working 80 hours / week without a bonus is the biggest joke of them all.

The previous post just lied. His/her starting salary in today’s dollars would be over $120k.

I’m not super passionate either way, but let’s at least have a basis in reality and not fake news before typing essays.

We older generation earned much lower salaries. I started in1979 making 18k per year as an engineer. In todays dollars that is 60k, but new engineers today earn around 100k. There was no work family balance. only week day work, week end work and morning tower work. All nighters on rigs in South Tx, West Tx and East Tx. Out of 75 k employees, I bet fewer than 1500 have been on a rig. Salaries are above competition now. Benefits make total compensation way too high. Equivalent engineers in mexico make less than 75 k. The president of Mexico earns less than 100k. There are billions of people in the world that want your JOB and are willing to WORK VERY HARD to get it. If you look up the definition of WHITE PRIVILEGE in the dictionary...Your picture may be there. GET TO WORK

This thread is f—ing useless ! Anyone who has replied is dumber for doing so!

Are we off topic yet? Has Marcus Welby joined this conversation? Time warp?

That post references nursing home care, not a retirement or assisted living facility.

Medicaid pays for nursing home care after ALL of the patient's assets are depleted. The patient can have only $2000 left for miscellaneous expenses. Until their assets are fully depleted, they (or you) will have to foot the entire bill. So they must sell all property, deplete all savings, sell all stock and IRAs, etc. before Medicaid will accept the charges.

Retirement and assisted living centers are entirely different. Your parent's insurance may help cover costs for a short period if related to rehab, but if they just choose to live there, they (or you) pay the entire bill. A shared apartment or room will run $8-10k per month at a nice facility.

So, it's not really what you can afford when it comes to nursing homes. If they are Medicaid approved, there is no cost to the family once assets are depleted. Everyone is on the same footing. And yes, COVID rules these places out for now unless a last resort.

@1coe+17v7kqBE

If your parents have special medical needs, I feel for you. My parents have talked about going into retirement homes and I simply can't agree with that, especially after the gaps exposed by COVID-19. I would hope your scenario is not common because most families would not be able to afford such care.

I will say this. if they offer a package, I am taking it. I don’t want to be here when all the smoke clears. You will be expected to do the work of four people. I can’t even imagine the backstabbing and shenanigans that will be going on just to stay out of the pip. I’m not playing this game. I may not be able to retire fully, but I’ll work part time to make it before I become a player in this sh– that’s about come down on us. I’m not kissing anybody’s a– for a job. I haven’t done it for 25 years and I am not about to start now. You don’t appreciate my talents, I’m not going to bend over backwards for you a–holes. They can kiss my a– on the way out the gate! I have too much pride in myself to let them degrade my worth as they will do, for the sole purpose of getting more out of me. If you have the opportunity, take the money and run!! I’m not gonna be looking over my shoulder all the time waiting for someone to screw me over! Who the hell wants to live that way?? They already gave me my assignments for next year. I’m assigned as the lead engineer on a project full time. But I am told I am still expected to
Perform my current full time role. They can kiss my a–!!! I have to much respect for myself to bow down to this sh–!!!

It is indeed a choice, albeit a very difficult and emotional one. My family provides in home care for elderly parents. But don't imply placing a loved one into a nursing home is equivalent to abandoning them, or that this is somehow equivalent to "dumping them". Sometimes it is simply no longer possible to provide the specialized care needed for the elderly in your home, irrespective of how much you would like to or how much money you have.

You can't keep heart surgeons, pulmonologists or others specialist in your living room on standby. And sometimes that is exactly what an elderly parent requires. Immediate medical attention and equipped facilities.

Sad that so many on these forums judge others so harshly and so quickly with so few facts. Toxic at work and at home.

People who claim you must throw your parents in a home because there’s no other way to take care of them are clueless and entitled. Millions of families have their elderly parents live with them and learn to take care of them. Throwing your parents into a home is a choice.

is everyone here lucid or have I entered the Twilight Zone?

no extra chips?

Retire now as you are one of the employees that cause company tremendous lost due to you keeping your head down when younger employees started to take the company down the drain. You gave in to low class incompetent management without putting up a fight as a senior cohort.

You need to retire. No extra chips for you.

I know professionals in their 20/30s that already need to take care of their parents. Don’t assume this is just an “age 50/60s” thing.

@dlj+17v7kqBE

What do you think happens with the average family that doesn’t even make 5k/month?

@qzd+17v7kqBE

The op was explaining why not all folks that are nearing retirement have yachts, multiple homes, etc. like many have accused. We don't need a lecture on how you plan to care for your parents someday. It's not that easy. When your parents, in-laws, siblings, child, spouse or whomever require 24 hour care just to stay alive, let us know how you are taking care of that at home by yourself without any help from "strangers". You trained in hospice care as well? How many bedpans have you emptied? You obviously haven't walked that path, have you? I pray you don't.

Like many today, empathy and understanding of the plight of others is something that you can't even comprehend. Everything is put in the narcissistic perspective of "your life". Well cupcake, life doesn't always turn out how you hoped or planned.

So quit judging and belittling others who comment on real life situations that many face. You haven't walked in their shoes. That glass house you live in is fragile, just like your understanding of the real world.

Market losses?!!! S&P 500 has annualized returns of 14% since 2010!

Want cheese with that whine?

My parents worked minimum wage jobs and raised 4 kids who all went to college. They’re now enjoying their retirement. They’re not spending 6 months/year at an Italian villa but they’re happy with their lifestyle and they have more than they need. When they can no longer live on their own, they’ll move in with us because you don’t put your elderly in homes and expect strangers to care for them.

XOM stocks is a waste of time. Pity those senior employees holding on at $35 now. Happen to hear one telling the younger ones, don't worry "long term"..sounding like an insurance seller.

I think the young people are annoyed not because the older folks are still sticking around but because the golden era of O&G are over and they won’t get to experience it. Who knows if things like pension and social security will be around by the time younger folks need to retire. Time to move industries I guess.

The real reason folks used to retire from Exxon with several millions os stock splits. When I started in 1998 the old timers then had the advantage of several stock splits in their already 30 years. Meaning each time they had a stock split their 401k account at least doubled each time after just a few years. Since starting in 1998 there was only one split and none since. I didn't have enough shares to really matter. There will be no more splits so you will not have several millions in your 401k to depend on.

Most importantly, the old guys invested 100% of their retirement money in XOM and blue they "have to wait until it comes back." Who needs diversification and I've never heard of this opportunity cost you speak of. At least they are in a better spot than the people who have already retired and are drawing down on their 100% XOM portfolio when it's lost half of it's valve.