Exxon prepares to cull US white-collar ranks by up to 10%

The Straits Times2021-06-22

HOUSTON (BLOOMBERG) - Exxon Mobil Corp is preparing to reduce headcount at its US offices by between 5 per cent and 10 per cent annually for the next three to five years by using its performance-...

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Comment（23）

Xuanlx
·2021-06-22
Wah!
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Shop
·2021-06-22
i see
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1
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thekang
·2021-06-22
Comment like thankz
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3
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- Wgatap:
  Gooooooood
  2021-06-22
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Stan333
·2021-06-22
???
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6
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Alexngo
·2021-06-22
That's no good...
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4
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- Alexngo:
  ?
  2021-06-23
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- WZY999:
  ?
  2021-06-23
  Reply
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areyoujerry
·2021-06-22
Oooooh
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3
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SSVC
·2021-06-22
Ouch Appreciate your comments and response Thanks
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2
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Alfred1007
·2021-06-22
The falling of giant?
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SamuelNg
·2021-06-22
oil is a dying business
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2
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KohJinHui
·2021-06-22
Great read
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Spartan8868
·2021-06-22
Ok
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chiin
·2021-06-22
Ok
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1
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- AshleyKinson:
  well
  2021-06-22
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Iamwilliam
·2021-06-22
Great
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- chiin:
  Ok
  2021-06-22
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Tygress
·2021-06-22
Is that even ethical of the company? Though it is good news for shareholders.
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dent
·2021-06-22
Please like and comment
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3
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- Mystique:
  ok
  2021-06-22
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cmg76
·2021-06-22
Lol, it's quite bad at the moment. Already seen some 10 to 20% of staff gone since end of 2020. Anymore cuts is not going to be helpful as the same workload is expected.
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SeanSak
·2021-06-22
Like n comment
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5
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- Kennyoscar:
  Nice
  2021-06-22
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- Tw0d3MooN:
  [财迷]
  2021-06-22
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- TanTG:
  comment
  2021-06-22
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DesmondChin
·2021-06-22
Opportunity to trim the organisation
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konami
·2021-06-22
Nice
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Blading23
·2021-06-22
Read
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- jinvestmentj:
  pls.reply me
  2021-06-22
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While such workers are typically put on a so-called performance improvement plan, many are expected to eventually leave on their own. This year's evaluation is happening now but affected employees have not yet been notified, the people said.\n\"Our annual performance assessment process has been occurring over the last several months,\" Exxon spokesman Casey Norton said in an email. \"Where employees are not contributing to their highest ability, they may need to participate in an improvement plan. This is an annual process which has been in place for many years, and it is meant to improve performance. This process is unrelated to workforce reduction plans.\"\nThe plan is separate from Exxon's announcement last year that it will cut 14,000 jobs worldwide by 2022, and it would extend reductions well beyond that original time frame. 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While the performance-review process mostly applies to white-collar jobs such in areas such as engineering, finance and project management, there's no suggestion the trading departures were related to the review programme.\nExxon's other cost-cutting initiatives have included suspending bonuses and halting employee-contribution matches to 401k savings plans as the pandemic crushed demand for crude, saddling the company with a record annual loss.\nInternational crude prices have surged 44 per cent this year to almost US$75 a barrel, improving Exxon's financial position markedly. Still, the supermajor has some way to go to pay down debts accumulated during 2020's market collapse. 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