Is this going to be an interesting year as it relates to Exxon Mobil layoffs? Any chatter, news or rumors?
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I expect reductions 4 to 8%, staying just under what EM would need to officially report to the labor board as a layoff.
You should expect Singapore and Joliet to be sold by the end of 2025. Most likely, a Middle Eastern country will buy Singapore to diversify outside of the Middle East.
Australia will be gone mid 2025
If you are over 55 and not retirement eligible, they will NI you if you are at the top of your range. You are not a flight risk. They won’t NSI as long as you are done use. Tactics are to reserve high marks for mid career and compliant individuals. (Those who will “help” certain people’s careers.)
6-9 more years of layoffs in the USA before we hit structural savings target per GP forum today.
Do we need layoffs; we have sold Billings, French refineries, selling Nigeria and Malaysia and others are gone. Gotta believe DWW is looking for more so we won’t have many people left soon. Guyana is all done by SBM anyway.
"Future of Finance" ?
3 years to 15/55 they can NSI you and place you on Performance Improvement Plan but not exited via PIL.
No raises, bottom choice for potential transfers or advances.
This is common so groups can meet the target average for RG without losing headcount.
Headcount won't change, but where that headcount is will.
Every person from Clinton that does not relocate only accelerates their role moving to BTC.
Some great info here in this post. Speaking of pip what if your under 3 years to 55/15. Can they NI you for those last few cycles?
All of the Houston based IT jobs will likely accelerate movement to India MSPs. The VP has been spending a lot of time in India and with these companies. The writing is on the wall (if you read it). I expect the US IT reductions will be in 2025, so anyone on the fence should start moving out now.
Yes, there is "official" news from the corporation.
From our 3Q2024 stockholders report.
Across all of our businesses, we continue to capture structural cost savings, adding more than a half billion dollars this quarter and $1.6 billion year-to-date. Since 2019, we’ve reshaped the cost base of the business, achieving sustainable savings that now total $11.3 billion. We remain on track to achieve $15 billion of savings by 2027 and see more opportunities in the longer term.
https://investor.exxonmobil.com/news-events/ir-calendar/detail/20241101-3q-2024-earnings-call
Oil price is down and we just acquired more people and companies that hadn’t started shipping jobs to India. Yes there will be aggressive headcount reductions by any means necessary
I am keeping my eye on EMTECH, with the 10.000 person shift to Bangalore, we should expect some bad times for our Engineers.
Whether it is a direct layoff, or high PIPs, or just 0 developmental roles for younger people until they quit (Global Projects strategy). Exxon will have to do something to get rid of their US employees to meet their work migration plans.
Just PIP, divesting assets (and employees), run off some Pioneer and Denbury people, and Clinton attrition.
Doubtful. The company has a very disciplined approach to reducing its overall employee population in high cost locations, which it has been executing over the last 4 to 5 years. This approach is the same in good times, and in bad times. The only way there are layoffs is if the overall market lags for multiple quarters in a row (then you see Pension elimination, some layoffs, etc.). And before someone says “but PIPs”…. Yes, we know. These aren’t the same kind of layoffs the OP is asking about so move along.