Thread regarding ExxonMobil Corp. layoffs

@6czy+1b3nmiJj

Take the company match of 0%? Pension will be gone for all? You're a fu----g m0ron man.

Pension will be gone for all. Name another company that has a pension...ok, so why do you think this company should provide one? You can go work for the federal or state government and get a pension, but the pay is much less and therefore the pension is not worth much either. Why should any company take care of you anyway? Why can’t you take care of yourself? Max out your 401k and get the company match and you’ll be a multimillionaire when you retire early. If a company doesn’t have a 401k match then what are you still doing at that company? You will change companies and industries several times in your career, don’t expect to stay at the same company for 40 years. You owe the company quality time and they owe you a paycheck, that’s it, nothing more or less. Companies will do what is in their best interest, if you do not do the same you deserve to be NSI!

Keep things in perpsective.

The 401k match will come back. I've been in an oilfield service company where the match disappeared during a downturn, and it came back. Stop assuming that it's gone forever.

As long as you make it to 5+ years, you'll still get something when you leave. Might not be the full retirement package, but it's still better than the no pension at all that you'd get at most other companies.

Also, it's not like people 51+ at other companies are immune from layoffs.

@cvo

Yes, they can PIP an NRE but they would need a DAMN solid reason to fire an NRE. Something like not showing up for work, failed dr-g test etc....

Me. PIPed after ten years. Took the pension as a lump sum, rolled into the IRA and bought an S&P500 index fund. With a reasonable rate of return, I think things will be fine.

I remember I had a rough patch during year four when I was pushing my self to not quit until I hit five years and was vested in the pension. Fortunately, things got better so I stuck around another five years.

I’m a mid-career higher that was trying to make it to the 15 year mark. It seems like that is less and less likely. I don’t know about the NRE thing. If they can come up with some “documented” reason your performance is not up to snuff, they can still PIP you.

Quit your whining and go power walk, attend a useless meetings or run to the printer. Thats all you useless cry babies do anyways. And you want a pension and a 401K for doing that all day? Good luck with that!

I came to work at Exxon mid-career with the XTO acquisition. I was in my late 40s (XTO valued experience). I am 60 now and only needing 2 years to become RE (currently have 13 years service ). XTO employees, particularly first line supervisors in my age bracket have been systematically weeded out and replaced with legacy Exxon employee’s barely old enough to drink. I had a real fear that this would be my fate also until a long tenured Exxon employee explained that people in my position are known as NRE and are virtually un-fireable due to Exxon’s fear of age discrimination lawsuits. For “mid-career” people in my position, it’s worth staying just to pi-s the arrogant a$$ holes off.

I don’t know many mid career hires, and even fewer that have made it through this latest round

They probably didn’t think about this as much considering mid career people historically were never hired. It wasn’t until a couple years ago that they began hiring more experienced employees (excluding the rare exceptions).

Has anyone formulated a good strategy for these types of folks? When is the best opportunity to exit? I would assume since there's no match the 5yr vest period is meaningless so that leads me to believe that as soon as you can find something that pays more it would be time to leave.

I though exxon would be my final company to spend the last half of my career. I was wrong.

Anyone else in this boat?