I know the company leadership (and I use that term very loosely) said there'll be no major layoffs any time soon, but i'm worried about the emphasis on the "major" part. Does that mean that from now on, we can expect constant smaller layoffs that'll not make the news? That would stress me out more than any major layoffs round.
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Some people posting here seem to have forgotten last year’s MLRP (or they work for HR and propagate their lies).
In 2020 8% were put in NSI, but about 30% of them were Retirement Eligible and automatically chose to retire, not to fight the PIP. After all, they are the main target of the MLRP - they couldn’t be touched by the layoff, so nobody was going to let them pass the PIP.
Some of the rest chose to take the PIL outright; some of the others chose to take the PIP but found the process so stressing and absurd they quit at some point and got the PIL.
Those who actually finished the PIP represent probably a third of the initial 8% - impossible to tell exactly because the company keeps the numbers secret. The claimed 90% rate of passing the PIP applies to only to that third of the 8%, so about 5-6% lost their jobs in the process. Of course, virtually all the “survivors” were thrown overboard in the layoff, by some incredible coincidence.
One might be inclined to be pessimistic or optimistic about the future of EM, or show empathy or indifference for those who lost their jobs (and who will lose their jobs this year), but to lie about what we all know and have seen with our own eyes is to be a scoundrel, a corporate drone of the worst kind. Even at EM, I’m surprised to see some degrading themselves to this point.
Retirement is about 3% per year. With 8% PIP and 75% surviving PIP and 25% not surviving, then headcount can go down 5% per year. Add Asset sales and headcount can drop by 10,000 in 3 years
If you want to survive, start liking mo--nic LinkedIn posts by senior executives like fellow psychopaths are doing. It is even better if you sign up for non competitive useless online courses from big universities and keep touting yourself as a leader and fake achiever.
Now don’t say that we didn’t tell you the secret of sucking upwards.
Looks like have a lot of Mensa people on this site.
8% go into the PIP. Most come out of it, so we are NOT laying off 8%.
However, What we WILL be doing is moving jobs from HC to the GBCs. That is a defacto layoff which results is no overall company reductions but a huge reduction in costs.
So I agree with everyone’s sentiment, just not the specifics. Which you need if you want argue with facts against them.
Good Day,
I am Warren Doods. Read my lips you fools!
2020: "No layoffs planned today" = 15% layoff effective 2021.
2021: "No large layoff planned today" = small layoff is in the works.
And please don't tell anyone that none of this accounts for staff reduction via PIP, forced retirements, and resignations.
It takes time to train your replacement at the BTC so 8% a year is about as quick as the BTC can be grown to replace you.
Guys, just talk to your GREF buddies as what happened to them in 2015/2016, it wasn't publicized anywhere but everyday some people would start disappearing. XOM can and will do it again the same way to avoid having to publicly announce any more layoffs. The goal is to do it without being required to let the world know publicly. Only those that have lived these events would know, and the mgmt. ofcourse.
@qpd+1abz4AhF to me, it's yet another example of complete incompetence of mgmt to hire appropriately, if they are having to let go that many people per year. But, we all know it's not really about quality. It's related to your level of sycophancy. The less you align with that behavior, the more you're marginalized and looked at as incompetent in the eyes of mgmt. They can't understand that people who don't s— up, can, and will deliver more value than others who bow down to the master and kiss boots. Sadly, "yes" is more valued than critical thinking, or god forbid hearing another side of an argument. But, we have geniuses at the helm, just look at the stock price and value over the last decade! Incredible performance, DW has definitely earned his tendies.
I don’t know what to think about a company that forces 8% of their workforce into an NSI bucket in order to layoff and reduce headcount. They don’t want to call it a layoff so they play this game that everyone sees through but make it about performance instead of what it really is. Sad.
You seemed to have lived under a rock the past 9 months. The new rolling layoff is absolutely the 8% PIP target. What makes this a layoff more than a constant trimming is hiring is frozen for at least 1-2 years more in the US.
Didn’t you know - that’s what the PIP is for?!