(An update from our previous article: Will ExxonMobil Announce Layoffs or a Dividend Cut on Friday?) As we’ve covered in the past, ExxonMobil has made protecting its dividend a priority. On Thursday ExxonMobil made some major announcements in regard to both job cuts and the dividend. The company has decided to keep the decided to
(Updated as of October 26th, 2020) 1. Will ExxonMobil Announce Layoffs or a Dividend Cut on Friday? There is a strong possibility that this Friday the worst case scenario could become a reality for many ExxonMobil employees. Darren Woods, ExxonMobil’s Chief Executive Officer, said in a recent town hall “These are difficult times.” Many people
As a recruiter I’ve noticed that my most successful clients are always the ones who are prepared for the worst case scenario. There is a strong possibility that this Friday the worst case scenario could become a reality for many ExxonMobil employees. Darren Woods, ExxonMobil’s Chief Executive Officer, said in a recent town hall “These
The novel coronavirus has caused the oil & gas industry major strife over the last 6 months. However, corporations were struggling with their pension liabilities long before the pandemic hit. According to Mercer’s 2020 Defined Benefit Outlook, at the end of 2019 the average pension fund only had 85% of their pension liabilities covered, while
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.
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
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 market improvements when