When HW3 started it seemed like the program was meant to “delayer” all the numerous layers of management we have. Instead it is clear the company is targeting non-managers in year 1 to 5. If we lay off this group and expect high attrition rates over the next few years who is going to do the work? The remaining managers? It seems the delayering effort just meant cut out the bottom.
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The government has nothing to do with the decline of the industry. Oversupply, over extended credit, and bad bets are to blame. Exxon paid too much for XTO, then overloaded processes and inefficiencies, disregarded basic know how, and overpromised to investors.
On top of all that -flawed fundamentals- the company failed to address massive liabilities regarding methane, flaring, and fracking.
Eventually it should come to bite us.
Jobs won’t cone back.
The decimation of the industry happened way before the election.
I agree the US oil industry will be targeted by the government. As we have seen before an outright ban isn’t required to stop work. You can just delay things and tie them up in red tape until the economics fall apart. Look at cancelled pipeline projects or cost of nuclear for examples. Have to make sure the chosen energy sources remain competitive by inflating cost of others.
Haha so they refuse to rescind the offer but will be happy to PIP those new hires come the next assessment cycle. How well will they do with no training and their colleagues resentful of them for taking place of a longtime employee. Scabs basically through no fault of their own but made so by management.
Yes new hires are coming in 2021. They refuse to rescind the previously made offers. In many cases they are forcing groups to layoff and then backfill with new hires.
Come on! They assigned middle managers to work HW3. What middle manager is going to axe positions he/she hopes to fill one day? Whatever HW3 identifies for middle management cuts, Upper Management needs to triple that number.
Finally, don’t kid us about higher Doag. Newsflash: When you tried to do this for GVS, the original Doag approves were (and are still) quietly requiring their functional approval...they now just call it ‘alignment.’
Whats Funny is you think they are going to be hiring folks in 2021! Every post here misses the big picture the EPA and Government are already targeting Companies working in the Delaware Basin trying to shut them down! Exxon is closing XTO doors for good! because they don't want to play the games the coal industry did with the EPA in the Obama years maybe you remember that? Then Corp is pulling back everything in the Permian to bear minimum for 2021 forward in a wait and see! Next will be Chevron and the Dominos will just keep falling! So I hope everyone has a four year back up plan to the oil and gas industry? or maybe just a good eulogy for The Permian and Delaware Basin! Good Luck to all and God bless!
Here's a primitive graphic from a long-ago post.
Maybe done by an actual Executive in their primate way,
(That is: He had a thought. He wanted to express it. He was on a beach and could not assign it to a team. He had a '$' sign signet ring. He pressed this plan into the sand.)
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Same as everything else in the corporation. Dallas declares some sort of strategy and then all the middle managers corrupt it for their own benefit.
Read the freaking FAQ about FLS!
Many of the small companies that are eating our lunch only hire experienced employees. That avoid having to train new people and processes that are required to protect inexperienced people from blowing things up. As for concern about the age distribution. We’ve dealt with that before and concern is overblown. You are mistaken about strategy. If this was their strategy they would cancel offers instead of honoring them. I guarantee you could get a new engineer for much cheaper now than the new crop that is coming in.
Be patient. Delayering will happen. All will be revealed soon.
How do you know that they are targeting newer employees? Have you seen the lists?
If that is true, that’s going to cripple the company long term.
The company needs newer minds to join the workforce. Not saying it should be a bunch of newbies, but there should be a proper balance.