Rumor is there were offsite meetings yesterday and today between ULT and HR! Is something huge coming?!!
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Exxon will run Imperial into the ground. Destroying Canadian jobs. Where is the Elbows Up pushback?
I'm so glad I left this company.
Mother Esso is no more.
She has gone to the bar and left the kids to fend for themselves.
@27t they are
@24f all of the managers in my area have been doing presentations to higher ups. I said to a coworker last week (before I heard the rumors) that it felt like they were fighting for our jobs.
I’ve heard Sept 29 as well. Also have noticed that managers seem a bit pi---d off lately…but won’t say why….
@1z7 Who told you?!
We were told Oct 1 announcement
Something huge is coming September 29. That’s when we find out.
Exploration in upstream splitting off from operations. EMPS and Upstream operations being combined to one org is the rumor.
@hv dilution (of shares) is the solution to oilfield consolidation
It's likely a major layoff / restructuring impacting 10-20% of staff. Any type of M&A activity (EM buys minority share, Syncrude or Downstream sale, etc) would have an extremely limited audience at this stage (CEO, CFO, Legal). This is the only possibility that fits recent trends and the offsite meeting this week.
XOM Layoff thread on the topic:
https://www.thelayoff.com/t/1k4gad26c
@p0 many people forget we also manage hundreds of former sites across Canada including some active terminals supported by CFO.
Don’t believe everything you read on the internet. Save your money, don’t make stupid purchases and stop fear mongering.
Problem with a divestment is really "who could possibly buy IOL?"
Likelier scenario I see is separation of the upstream and downstream. Maybe XOM retains control of the upstream and IOl becomes solely upstream while the downstream is sold off - Scona to one buyer and Narnia to another
@jd fair point but I don't think there are 1000 jobs that would be immediately unneeded. Maybe 200-300 tops. The only way I see 1000 positions being eliminated in Calgary would be a sale of Kearl (and even that’s a stretch)
If it’s not a public company all of a sudden redundant positions become plentiful (audit, investor relations, HR, CEO, CFO etc etc)
How exactly do you think Suncor which is barely worth more than Imperial is going to buy the company. At most Suncor would potentially buy our share in syncrude.
@eg I’m struggling to see how this would make sense (maybe it doesn’t)? Why would Exxon invest Billions to buy the remaining shares only to lay off more than half the Calgary workforce?
Selling the ExxonMobil shares to Suncor and then making them operator would seem to be a much more likely scenario and would also justify the office closure.
Heard that the Imperial MC was in Houston for meetings earlier this week. The full buy up of all publicly remaining shares to make Imperial 100% ExxonMobil makes sense….but so does divesting their entire 70% stake…..
Rumour has it that Exxon is buying the rest of the shares and closing the Calgary office about 1000 people to be affected
Sure glad I left Imperial Oil.
It's a sinking ship.
Imperial was once call "Mother Esso" long ago as they took care of their employees.
Now the saying is "Mother has gone to the bar and left the kids to fend for themselves"
There's definitely something happening that will mean a significant reduction in jobs at Quarry Park.
JW lame email didn’t soothe your fear? Don’t worry he will speak gently while he sc--ws you.
Syncrude divestment?
Rumour is something big is coming in October. Maybe Quarry Park move or re-org? MC forced UW campaign to be moved up to September.