Thread regarding ExxonMobil Corp. layoffs

Absolutely PIPs will continue. Salaries are the only lever Exxon can pull. Experienced (read more expensive) workers will be targeted and the necessary number of younger workers will be included to hide discrimination. We are Exxon, we can always hire more if needed. PIPs will continue until the business suffers, then we will hire contractors for a short time.

@2otn+1dADyOXR Age discrimination didn’t exist in PIP or the layoff. When you group everyone into age groups by 5 (22-27,27-32, etc) and you divide how many people were let go of by how many existed at the age, it’s literally an even proportion across the board. The people who have quit though has a VERY massive skew towards two specific buckets of employees, and practically nobody older.

And since somebody is going to complain about this, you want to use the proportion to compare, since comparing raw numbers can lead to poor comparisons (say we had 5 people aged 23 and 100 aged 45. If you lay off 5 people aged 23 and 10 aged 45, you really targeted younger people even though the raw total is lower).

1kfh+1dADyOXR
Of course there was “no concentration around a certain age” in the PIPs. That’s why they had to be inflated at 8%, so the age targeting can be hidden by throwing in the PIP a mix of all ages. EM is very good at hiding illegal stuff.

Why not just be honest about it. Economy dictates staff reduction. We do not have work for all of you so we have to let some go. You may not like it but that is life.

PIP has never made anyone magically better. Disguising it just makes people mad

Agree. This was in the ShareHolder slide decks in early 2020 as well. 10% PiP per year as structural efficiency for 2019, 2020, 2021. The tide will roll out and the brown nosers will be exposed

Age discrimination is such a lie, literally look up who was let go of and you’ll see there was no concentration around a particular age. The average and the median ages let go of matched up very closely with the average and median age of employees. Had nothing to do with targeting a certain pay level either.

@1rwc+1dADyOXR
“ PIP will always continue, every company lets go of people. The % being that high will not continue.”
This is the dirty lie that the corporation has tasked the management to distribute to the rank and file. All corporate boot li_ckers like this one know perfectly well that the old, max. 3% PIP has been completely repurposed to achieve personnel reductions (disguised layoffs) and to specifically target older, “expensive” employees (age discrimination).
Go tell this lie in your town halls and other such meetings, where employees cannot reply to you with the four word letter that you deserve. Here, get lost, we know exactly who you are and what brown stuff you’re selling.

The burden of Employee’s salaries and benefits is the most significant “cost control” measure they have.
Divestments haven’t even scratched the surface of the issue.
They believe we are still top heavy at upstream.
So the shed isn’t over. More cuts to come, for their new found “fiscal discipline”.

Only if you’re in law or upper management or you can land one of those greenwashing jobs you’re safe.
Otherwise, everyone is up in the chopping block for “performance improvement”

10% reductions sound about right. We had our head count outlooks shared last week and it implies around 10% further cuts

@1rwc What is the HW3 target for EMRE in 2025/2026?

EMRE has ~2270 headcount currently

Divestments also include cost savings

There’s so many other ways to do structural cost reductions. Employee layoff didn’t account for all of that nor will it going forward. We also had a higher than expected number quit, and we aren’t hiring more people while we have many retiring. PIP will always continue, every company lets go of people. The % being that high will not continue. He’s also made statements previously about the target workforce number, that was the point of the HW3 study. The HW3 findings laid out the numbers we want. If you’re curious about the exact numbers, look up when either your L2 presented on it or the other many PPTs about it. It’ll tell you for your area what the expected number is through I think it was 2025 or 2026.

these are quotes from this past Fridays analyst meeting following the 3Q earnings report