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Posted on 8/6/20 at 11:07 am to seawolf06
quote:
This is a good way to lose your top talent to competitors. While 6% is not a huge hit for most people, this may just be the beginning and those that can leave, will likely do so.
Which of XOM’s competitors are hiring?
I agree with your sentiment - companies may very well lose talent when the job market picks back up, if they don’t walk back some of these reductions. But it’s a tough job market at the moment.
It blows my mind that there are a ton of people in this thread (myself included) who have taken salary and/or benefit reductions recently, but a few entitled plant baws are screaming “I can’t believe this is happening to me!! Exxon can’t do this!” As if working for ExxonMobil somehow puts you above market conditions that affect the other 99.9% of the workforce.
This post was edited on 8/6/20 at 11:10 am
Posted on 8/6/20 at 11:09 am to lostinbr
The plant baws are in a tough spot since there are only so many places to land.
Posted on 8/6/20 at 11:14 am to Matt225
quote:
Cutting workers benefits before cutting dividends.
they have a fiduciary responsibility to their shareholders to be as profitable as they can be
this is capitalism, it's the system we chose
don't like it? go get another job.
Posted on 8/6/20 at 12:35 pm to Matt225
They gotta find a way to re-coup the property tax the school board made them pay. Not paying any for decades just wasn't enough.
Posted on 8/6/20 at 12:36 pm to Gee Grenouille
that shite is pennies for XOM you nut. This post was edited on 8/6/20 at 12:37 pm
Posted on 8/6/20 at 12:40 pm to lostinbr
quote:
It blows my mind that there are a ton of people in this thread (myself included) who have taken salary and/or benefit reductions
I have been blessed as that has not happened to me, and so far my company is continuing it's match, even though it's only 3%, I'll take it.
Posted on 8/6/20 at 12:42 pm to lostinbr
quote:
I agree with your sentiment - companies may very well lose talent when the job market picks back up, if they don’t walk back some of these reductions. But it’s a tough job market at the moment.
A pretty good amount of quality talent is leaving the industry all together. O&G isn't as secure or well paying in comparison as it used to be.
Posted on 8/6/20 at 12:59 pm to Matt225
Our company did the same in May. Suspended 401K company match.
Posted on 8/6/20 at 1:45 pm to Klark Kent
that shite is pennies for XOM you nut.
then why do they spend so much in lobbying to get out of it? It's only pennies because it's either significantly reduced or completely waived.
then why do they spend so much in lobbying to get out of it? It's only pennies because it's either significantly reduced or completely waived.
Posted on 8/6/20 at 2:00 pm to lsusa
quote:
Tough times hit, and instead of just making modest profits and showing loyalty to the workers they say f—- off.
How can anyone who actually works for a living be ok with this?
Management's loyalty is not to the employees. Management's loyalty is rightfully with the owners of the company.
Posted on 8/6/20 at 2:35 pm to tigercross
Curious how many of their employees own significant stock in the company? Dividend is 8% and they just lost 7% right? HOw many of them have $100,000 of company stock? I have no idea, but I'd guess a pretty decent portion of them?
My point, is that if this is temporary they may actually lose less money as employees with a loss of a 7% 401k match then cutting their dividend.
My point, is that if this is temporary they may actually lose less money as employees with a loss of a 7% 401k match then cutting their dividend.
Posted on 8/6/20 at 6:07 pm to baldona
The 45 year old + crowd mostly put 100% of their 401k in XOM stock. Those days are over.
While the new gen 19-40ish year old aren’t going all in on XOM stock.
While the new gen 19-40ish year old aren’t going all in on XOM stock.
Posted on 8/6/20 at 6:37 pm to Matt225
Too bad. Outside of Israeli's, Iranians and Venezuelans Exxon employees are the biggest collection of assholes.
Posted on 8/6/20 at 7:25 pm to ArkLaTexTiger
(no message)
This post was edited on 7/8/21 at 12:13 pm
Posted on 8/6/20 at 8:34 pm to Modern
quote:
The 45 year old + crowd mostly put 100% of their 401k in XOM stock. Those days are over.
Wow, people really do that? That’s been a terrible investment the last 15 years.
Posted on 8/6/20 at 9:11 pm to ulsaint
That’s what my uncle did. He retired from XOM 5 years ago.
He said when they hired in, the old guys told them to put it all in the stock. Back then, they didn’t have the option to diversify like now.
He went through 5 stock splits (lucky mofo).
He said when they hired in, the old guys told them to put it all in the stock. Back then, they didn’t have the option to diversify like now.
He went through 5 stock splits (lucky mofo).
Posted on 8/6/20 at 9:19 pm to Modern
Pretty crazy that a fortune 5 company is cutting out 401k match. I guess that’s the future where you will be responsible 100% for taking care of your retirement. With the way that the average American saves money I am sure that will go over real well.
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