Tag: XOM

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 demand during the novel coronavirus

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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” (Jones), has adjusted its performance evaluations in order to justify more job cuts. According to Forbes, “Exxon categorizes its employees

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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 improve their performance and keep their

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Top 10 Articles read by ExxonMobil Employees

1. ExxonMobil Healthcare: Enrollment You are eligible for the plan if you are a regular employee, an Extended Part-time employee, a retiree, or a survivor of a regular or extended part-time employee or retiree. You are not eligible for the plan if you… Read more here 2. Read the TRG Retirement Guide for ExxonMobil Employees

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Short vs. Long Term Disability Plan in your XOM Benefits

Disability Plan The disability plan provides various levels of income replacement during periods of both short-term and long-term absences from work caused by illness or injury. You are eligible immediately when you start work for short-term disability benefits and, after one year of service, for long-term disability benefits. You do not have to pay for

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