Thread regarding ExxonMobil Corp. layoffs

It's % of individual multiplier, not % of base.

The memo outlined the predicted distribution of outcomes and pay multipliers for base bonuses. About 20% of employees will be labeled “Outstanding” and will be eligible for a bonus double their pay; 70% will be labeled “Excellent” with a 115% pay bonus; around 7% will fall into the “Needs Improvement” category, eligible for a bonus up to 50% of pay.

Around 3% of employees may be labeled “Not Meeting Expectations” and will be ineligible for a bonus. On the other hand, the system will reward top performers with bonuses worth up to 300%.

So 97% get a bonus of 50% or more of their annual salary. Sweet! 90% get 115% or more bonus and 20% get 200% bonus!

Exxon should have a job code for working in annual assessment. The cost would be huge and there is zero value. I haven’t received actionable feedback ever.

Makes the RSUs look very stingy. Look at those bonus amounts. Huge. Look at how many people are eligible. Almost everyone.

Exxon want change for another 10 years. No matter what data exists to show it hampers performance. No different than lack of job boards.

All HC10 needs significant improvement in the eyes of our overlords

Meta will transition to two cycles a year — mid-year and year-end — using the same rating scale in both cycles, with bonuses paid out twice annually. Meta will still deliver equity refresher grants once a year, though they will be based on the average of two performance ratings rather than a single annual rating. Merit increases will happen once a year following the second cycle.

Meta pitched the redesign as a time-saver. Managers, the memo says, spend about 80 hours a year on performance-related tasks, while employees collectively spend 330,000 hours per cycle on peer feedback. Yet fewer than 25% of managers say that feedback is helpful, the memo adds.