Make a prediction and tell us what you think about Exxon Mobil layoffs? Any chatter, news or rumors?
13 replies (most recent on top)
26 will be a bloodbath for sure, reducing revenues with crude price decline will result in the usual HC10 cuts.
Global Projects will be heavily hit, just no decent work in the pipeline and anything that is available just goes to India.
UK business sale is common knowledge, let's hope there's a clause to avoid a blackout given what a total circus Fawley has been in 25.
In 2027, Clinton/Annandale, New Jersey will no longer exist.
By the bus load in Clinton
With oil prices down..... buckle up!
It's already in motion in Canada, Singapore, UK... Maybe US next
If the old headcount reduction of offering 1 month salary per year of service was to be used, even new hires would volunteer.
Now it is involuntary and only 3 months, and people still try to volunteer for it.
Prediction...Fife already announced ti close in Feb 26. Farley will follow as a sale to somebody after we complete the reorg to reduce the overheads and package it as a stand-a-lone business.
Singapore shortly too. Same thing. Repacking after CRISP finishd and China One finished, meaning a lot of Singapore expats to deal with, to reduce overheads in the business and make it attractive. With China internal production increasing, it doesn't make a lot of sense to keep something in Singapore woth high energy costs.
Look at where the other big projects are that will complete soon... Golden Pass. Once this is finished, we will be heavy on staff again in Texas, layoffs will happen there.
Guyana, maybe not in 2026, but eventually as the project work slows down, the staff will be reduced and tech support come from BTC.
Shale is probably safe given it's unique nature.
Where else are the big projects that are finishing?... that's where layoffs will come
PM will be asked to create cut list
VMO will also ask contactors to a 20% contract reduction.
MSP will fill in the gaps for project work.
They'll call it small work items (SWI)
H1Bs will be hit hard and that's bad despite all the racist stuff here.
...They do most of the commodity work.
This will continue until production is impacted. Ref 6-8 months.
The contractors that are producing will find a new job quickly and the ones that can't will stay.
Then in 1 year we will reach out to the. Vendor and ask for our contactors back at contract rate of 185/hr.
We will , of course, bury this in bureaucracy because " share holder perception" .
Customers will see a slight production delay and thus begins the cycle of Re-Org.
We will re-org because c-suite won't admit a mistake.
We will layoff or "PIP" em out to return shareholders confidence . We will communicate- we found and solved the problem.
Someone from the security team will read this and ask the site to take this down.
Why.. truth is the ultimate sacrifice.
Just look at the ExxonMobil Career job postings and notice the overwhelming demand in the BTC locations.
Global operations, reduction coming soon
There are no new exploration finds and Slow Carbon Solutions is not a money maker so the only thing that executives can do to justify their stock bonuses is to slash costs and lay off HC10 employees.
Anything from 10-25% across the board for every operating company, EM included. Higher for service companies.
PPB (pick your index) just isn’t high enough to sustain current workforce levels and allow O&G executives to keep collecting their massive compensation packages. They’ll keep cutting workers by any and all means at their disposal to show cost savings to shareholders.
So much for that “drill baby drill” BS. Welcome to perpetual decline. Doesn’t matter who you vote for.
Happy Holidays.
Global Projects: 10-20% reduction primarily from HC10 countries.