Quarter 3 Top 10 Articles read by ExxonMobil Employees

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1. Is ExxonMobil Laying People Off Through PIP?

Earlier today Forbes & Business Insider confirmed the rumors which had been circulating within ExxonMobil circles for the past few months. It appears ExxonMobil, in an attempt to “cut more workers without using traditional layoffs,” has adjusted its performance evaluations in order to justify more job cuts. According to Forbes… Read more here

2. ExxonMobil is Cutting Costs, Will a Pension Freeze be Next?

Over the past several months ExxonMobil has instituted a number of cost cutting measures in order to stay afloat during this tough economic time. Reuters reported that ExxonMobil has now experienced, “its first back-to-back quarterly loss in 36 years because of the drop in demand during the novel coronavirus pandemic”. On top of that Forbes… Read more here

3. Read the TRG Retirement Guide for ExxonMobil Employees

As a recruiter it is my job to put my clients in the best position possible for them to succeed. Most of the time this simply means finding a company with an employment opportunity that fits their needs. However, my clients often ask me about other factors, like their 401(k), pension plan, benefits package and… Read more here

4. First Exxon Layoffs, Now Loss of 401(k) Matching

ExxonMobil announced yesterday that they will no longer be matching U.S. employee’s contributions to their retirement savings plans. The suspension of these benefits will officially begin on October 1st, 2020. According to Reuters, ExxonMobil has now experienced, “its first back-to-back quarterly loss in 36 years because of the drop in… Read more here

5. Leaked ExxonMobil Memo: ExxonMobil Considering Job Cuts

The drop in oil prices has forced ExxonMobil to evaluate cost-cutting measures which include job cuts. According to Business Insider, ExxonMobil released a memo on Monday saying, “Unfortunately, we continue to see prolonged negative market impacts that require us to make further changes so we are best positioned to take advantage of… Read more here

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6. Is ExxonMobil Exercising its “Operating Leverage”?

As discussed in our last ExxonMobil PIP article, ExxonMobil has positioned itself to potentially layoff employees through a “performance improvement plan” or PIP.  A PIP is essentially a severance offer to leave the company, although an ExxonMobil spokesperson stated that employees who receive a PIP have the opportunity to… Read more here

7. Will ExxonMobil Cut Its Dividend?

Ever since the pandemic took its toll on the Oil & Gas industry, Fortune 500 companies have been scrambling to protect their dividends and keep their shareholders happy. The results have negatively impacted workers at those companies. ExxonMobil has been in the news a lot recently for taking on cost cutting measures in the name… Read more here

8. 7 Items to Consider Before Leaving ExxonMobil

Retiring or worse, losing your job is a grandiose moment. Your mind is racing and you simply just don’t know how to operate. Loss of a job, especially for those with over 20 years of service,  affects the same receptors in the brain as loss of a loved one. You have been connected with ExxonMobil for 20 years and now the relationship is over… Read more here

9. ExxonMobil: Lump-Sum vs. Annuity, Interest Rates, and Life Expectancy

Retirees who are eligible for a pension are often offered the choice of whether to actually take the pension payments for life, or receive a lump-sum dollar amount for… Read more here

10. Stages of Retirement for ExxonMobil Employees

In my years of recruiting I’ve had clients ask me quite frequently about retirement planning. Today I wanted to write a post that may help some of my ExxonMobil (XOM) clients be better prepared for retirement. Read more here…

For more articles on ExxonMobil, you can visit Techstaffer.

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