You're a mo–n if you thinking getting rid of actual workers and minimal management will make this company top light.
After the recent round of layoffs and more importantly, PIPs for '21. This company will be even more top heavy with worthless managers than before.
@1Wjpf+16zEvLP3 - please continue to dream on.
How many people cursing EM to close down. Especially top management. Go out to field better do your LPSA. Don't fall from stairs and hit by dropping spanner
Why waste time food for thought about something you cannot even control? Unless u already stuck here for too long, trying to convince yourself? Highly likely is the case.
@1Wjpf+16zEvLP3n, there is a difference between reality and dream. Irrationality makes people laugh.
The bloke who is so bullish on Exxon probably is in denial or in illusion, thinking that positive cash flow is forthcoming and stock price to go back to hey days...by mere crude price going above $60.
Please read this carefully and you will know that the company is in decline , unless a complete revamp of management and board. XOM is still clinging on to outdated strategy and staying the course. The stock will be punished severely in years to come.
https://reenergizexom.com/materials/letter-to-the-board-of-directors/
@1Wbwn+16zEvLP3
You can join Shell, Chevron, or BP if you think that they’re better. My only caution to you is: Are you sure?
What about IT?
e-Commerce, data analytics, machine learning and backend coding?
Brent and WTI prices have already breached the $50/b mark (mid-Dec 2020) - which is the breakpoint crude price that was envisaged by EM Corp Plan folks in Dallas, to be the sustainment datum, to salvage back a net-positive cash flow!
Together with the TMTS and WE3 implementation through the remaining countries - especially for AP/Singapore, expected in 1Q2021 through end-2021 and beyond, and with the recent mass exodus of staff (through PIL / PIP, “self-help”, or otherwise), involuntary early-retirements (i.e., the top-heavy folks, as far as SWB goes), and with all major Capex deferred, the organization will indeed come out of all this much leaner and more importantly, top-light.
Imagine EM’s P&L and NCM going stratospheric, when crude price does return to $60/b, or higher!!
The rest of us who remain in the “re-invented” organization, will bound to see promotions, increments and bonuses all returning by 2022!
Now, that’s food for thought, yah!
Thinking to leave this work place, but don’t know which company can I apply to?
Both oil price and Exxon shares are turning. All of you will get more bonuses this year!
It's all DW's game. We are just tools to him. There is no long term loyalty anymore, so be the boss of your own destiny. We are smart people.
Why is the CEO job not outsourced to KLTC? Instead we have a tone deaf cowboy sitting on the throne, making c-appy decisions, which will be revised once there’s pressure from activist investors. Can we have someone inspiring for a change- at least someone who can speak well? So many rounds of management presentations, and the best they can give is DW? Come on!
They should outsource all the managers including the to KLTC and BTC since it's cheaper and better.
Do we really need management here, acting cool sitting there drawing US$ or other currencies? That could be translated to >5X working level folks here drawing SG$. Must be silently smiling that they can continue to claim every single personal expenses incurred by their family, but no one in SG get to see it.
Boom! 100K views on this post! Got to thank everyone for posting, sharing their views and being inclusive! Now that is practicing what we preach!
As we celebrate this remarkable milestone, do take some time to reflect and prepare for the layoffs in the months to come.
EM management will always say this to you: If you are not happy with the company, then please leave. You are not indispensable.
can't agree more, should have left earlier when my market value was higher. Anyway, 2021 is coming with AWS already earned. Not going to make the same mistake and already started my hunt, I know many are knoding their heads.
Did you change industry or just a change of firms within the same industry?
Ex-ExxonMobil employee here 🙋♂️ I chose to leave at my peak - couple of years back (when market value is still high).
I am richer now, not just because of a higher salary, but I am happier, healthier, and spending more time (and quality time) with my family now.
Those who were sacked during this period, move on, could turn out to be a blessing in disguise.
Those who are still in EM, feeling uncertain, frustrated, unhappy with all the internal fighting, gossiping, back-stabbing, stepping on others’ dead bodies so you can climb up the corporate ladder? Don waste your time in this corporation, not worth it.
99 out of 100 employees or ex-employees will tell you bad things working in this corporation. Why? And the 100th is none other than the bootlicker of the corporation.
Oh wow, almost 100K views, the most views omg
Oh sh–! I don’t even know what’s CMDC, so no exciting career for me, and a whole lifetime of shoveling sh– of hi-po awaits me! Oh dear oh dear!
Have any of you ever wondered if your own career development (in F&L) is being managed and planned for in CMDC, or like for the rest of us, in PDAC?
Go ask your supervisor!
If you fall under the purview of CMDC, then you are a deemed Hi-Po, whose career is destined to be developed to Executive levels in the company - which will include, but is not limited to, expat assignments in HQ/Houston and other EM affiliate offices and manufacturing sites around the world.
Limited slot, let's fight and bleed for the 10% (only if your life has nothing but only xom). If not, we are considered nothing here. Is that what xom what from us? I would rather live a meaningful life, go home on time for my family and kids.
Imagine that many of ‘em would have amassed millions in assets, investments and cash savings, by the time they hit their 50s!
But for the rest of us ..... well, life goes on.
Pays damn well in EM to be a bootlicker.
@1Qwuv+16zEvLP3
Actually there’s no loss to the top 10%. It’s just that their stock options, when converted to actual stock holdings will be of a lesser value. That’s all.
Let’s say you are a middle-third performer (e.g. 3rd quintile in the former ranking system). Your rank group cohort’s top-10% will get, as part of their overall remuneration, the following:
(1) salary increase per HR guideline (but since they are of a much higher RGP, will be miles higher than yours)
(2) salary increase due to promotion
(3) any special adjustments
(4) stock options
So compared to you, they would already get (1) to (3), where you would have gotten only (1), and perhaps (2) after many years of slogging.
If (4) were to devalue, by the time the Hi-Po converts it to actual EM shares, they will still get the last incremental layer of salary increase, which you won’t!
@1Nnyz+16zEvLP3 shared important information on the share options. Anyway they are sitting on losses for trusting the company too much. Next time you see your bosses, smile because they are worse off and working in EM for free to recover the losses... perpetually.
We KLTC thank you for your sacrifices.
There will be more when lots of the Singaporean employees are laid off. This time without the NSI tool.
How are there almost 100K views on this one post about Singapore!?! Unreal.
@1Nnyz+16zEvLP3
Hmmm ..... so it begs the question then, on who are actually the nay-sayers and disgruntled, that continue to post in the layoff.com?
Definitely not those who have been ranked well and are rewarded with good annual increments (including EM stock options for the top 10% / Hi-Pos) and paced with promotions every few years, into supervisory positions.
It would be more so, those whose jobs are being threatened, or carry great uncertainty, in the impending cost cutting exercise, come 1Q 2021.
@1Nnaa+16zEvLP3 It’s an American company? Don’t like it.. go for a local one that can pay you as well for doing so little!
@1Nvjv+16zEvLP3 It’s not top “management” lah.
In every rank group cohort, from T3 (>CL25) and higher, the top 10% RGP would be awarded EM stock options every year - as an upward mobility incentive to sustain outstanding performance.
If you had not received such over the years, then you are obviously not a Hi-Po.
Can someone explain to me how is DW keeping his job when he’s obviously NSI material, if you reference whatever metrics he’s measured on. Yet, people
Who have been working hard on the ground are spat on and booted out while he gets his RSU like clockwork. This is BS. If it’s a Singaporean running the show, would have been shown the door long long long time ago. One rule for Singaporeans and another rule for cowboys. Ang Moh Dua Ki indeed!
Saw argument here, top management MPT talk and think for themself. NMPT worry about future.
Why not hope big incident happen and burn down EM, all out of job.
Then you wiil see who have more market value when search for your next career.
@1Luka+16zEvLP3 Me too. We should have known..
Thanks for working hard on the nitty gritty details folks, and thanks for the dividends.
But what’s the point of that, when the principal value of XOM shares had plummeted by as much as 30-40% now? !!!
I had sold all my stock options awarded to me by the company in the last decade, when it was traded in the high-60s to 70+. Now it’s a miserable low-40s .
Seriously I do not care how the company operate, e.g. reducing headcount, salary cut, removing benefits, etc etc. I believe in the management and as long as I get my quarterly, and growing, dividend, I am happy. Thank you for working hard and sacrificing for us shareholders.
I agree to some pay cuts, not only for employees but need to see how we can reduce the extremely super high costs the Company are paying the Contractors (especially the Project Contractors).
Please dont cut SLS's salary, we need the pay to plan for your bright career.