- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Exxon Suspending 401K 6% Match in October
Posted on 8/5/20 at 9:34 pm to fightin tigers
Posted on 8/5/20 at 9:34 pm to fightin tigers
quote:
Termination vs Layoff has more consequences than just a PR announcement
How so?
2
Posted on 8/5/20 at 9:34 pm to lsu13lsu
quote:
Anyone who has worked at a large company in the fat times knows there are plenty of underperformers who are only there because times are good.
No doubt. Also a good time to get rid of older employees that are costing the company more.
Posted on 8/5/20 at 9:37 pm to lostinbr
quote:
How so?
Unemployment, for starters.
Posted on 8/5/20 at 9:37 pm to lostinbr
quote:
How so?
Seriously?
You even stated companies go out of their ways not to announce layoffs.
The reasons are numerous and obvious from both sides.
Posted on 8/5/20 at 9:52 pm to slackster
quote:
Unemployment, for starters.
This is valid. Severance (which I’m fairly certain is what he was getting at) is not.
Posted on 8/5/20 at 9:56 pm to Matt225
Exxon match is probably dollar for dollar too.
Posted on 8/5/20 at 9:57 pm to lostinbr
quote:
Severance (which I’m fairly certain is what he was getting at) is not.
I guess it depends, but idk many places that pay you severance if you're fired for cause.
Posted on 8/5/20 at 10:03 pm to go ta hell ole miss
quote:
start pretty big layoffs
Would you consider 8% of 75,000 plus employees a small lay-off?
Posted on 8/5/20 at 10:03 pm to RoyalWe
Hey slap dick. First you’re a poser for trying to sound cool by referencing The Dude.
Second....that’s not “capitalism”, that’s GREED. Without ethics, there is no capitalism.
Second....that’s not “capitalism”, that’s GREED. Without ethics, there is no capitalism.
Posted on 8/5/20 at 10:08 pm to Matt225
I experienced this for the first time in 2008. Thanks Obama! I learned to not use my 401K as my only retirement savings tool.
Posted on 8/5/20 at 10:09 pm to Trout Bandit
All those years Exxon made 15-20b profit, now they have a loss of 1b in a quarter, they're cutting benefits to save 1b.
Posted on 8/5/20 at 10:11 pm to lsusa
quote:
Second....that’s not “capitalism”, that’s GREED. Without ethics, there is no capitalism.
What is being done that is un-ethical in your opinion?
Posted on 8/5/20 at 10:18 pm to lostinbr
quote:
(which I’m fairly certain is what he was getting at)
Probably why you shouldnt assume what other people are getting at.
Severance isn't guaranteed, nor should it be expected, in a layoff.
What is guaranteed is that XOM won't have to explain a reduction in workforce when they go beg for ITEP next time.
This post was edited on 8/5/20 at 10:19 pm
Posted on 8/5/20 at 10:30 pm to Matt225
Refining still making money.
It's just because upstream has been terrible.
It'll come back.
So much oil going offline. Prices will rise big time in coming years.
It's just because upstream has been terrible.
It'll come back.
So much oil going offline. Prices will rise big time in coming years.
Posted on 8/5/20 at 10:32 pm to EA6B
quote:
What is being done that is un-ethical in your opinion?
Exxon's primarily responsibility is to maximize shareholder profit.
Posted on 8/5/20 at 10:36 pm to fallguy_1978
quote:
Exxon's primarily responsibility is to maximize shareholder profit.
It should be, they are a publicly traded corporation owned by its shareholders.
Posted on 8/5/20 at 10:36 pm to Privateer 2007
Don’t be so certain. The KingFlu has shown companies they employees can work effectively from home, have meetings over Zoom instead of traveling and how much money can be saved from doing so. There will be less demand for gasoline and dramatically reduced demand for aviation fuels will continue. And the corn lobby will make sure corn squeezings are a bigger and bigger percentage of our gas tanks. Fair chance the demand will never be back to pre-Covid levels.
Posted on 8/5/20 at 10:36 pm to Matt225
All of my employees still getting their full match. I’m not shitty like Exxon though.
Posted on 8/5/20 at 10:37 pm to EA6B
quote:
It should be, they are a publicly traded corporation owned by its shareholders.
It just sounds uncomfortable to people but that is the goal of every publicly traded company. They are responsible to the shareholders.
Posted on 8/5/20 at 10:39 pm to fallguy_1978
I don’t know why it’s that uncomfortable. Those shareholders gave the company capital with the expectation that the company would have a fiduciary responsibility to them.
Now, I don’t think you should always screw over the workers to make sure the shareholders get theirs, but to say we should value the workers unconditionally over the shareholders is just being naive as to how companies grow to even be able to offer those jobs and benefits in the first place.
Now, I don’t think you should always screw over the workers to make sure the shareholders get theirs, but to say we should value the workers unconditionally over the shareholders is just being naive as to how companies grow to even be able to offer those jobs and benefits in the first place.
Page 5 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News