Our stock price is the same as it was 14 years ago in 2007. There’s been peaks and valleys for sure, but where’s this “smart growth and superior returns” we keep hearing about? I’m just not seeing it. The share buybacks began with the first couple rounds of layoffs. And the buybacks are continuing. Does that mean layoffs are just a part of “doing business” from here on out?
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Yearly Layoffs has been Exxon’s way of business for a long time. Exxon evaluates its employees every year and lets the bottom 10% go. That bottom 10% can cause more problems than they are worth. If you keep bottom 10% they become managers. 😂
And don’t forget how the dividend was never going to be cut either. Ah, good times!