Exxon is being very quiet about needed changes while our market cap is down $65 billion in value and cash reserves are depleting rapidly! Finally beginning to see some big expensive long-term projects shut down. They haven't announced a layoff but we are noticing a lot of people that are gone! Watch next?
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Yes. That is what's happening in EMEC I know. Several I know of nearing retirement have been offered 3 options. One just left yesterday and another us leaving Friday. One is going to be paid until EOY and the other is going to be paid until sometime in the first quarter, his planned retirement date. Another one in EMIT was let go due to being ranked low for a while and not improving. So XOM is undertaking an XOM style layoff.
I haven't heard anything about "options to people who are nearing retirement".
Global Real Estate and Facilities and Environmental Services
And they have out sourced a part or all of one of their organizations called GREF.
They are offering options to people who are nearing retirement. And they are letting low performers go.