Exxonmobil layoffs 2024: Will Exxon go out of business?

Hey folks, gather around because we’ve got some news about ExxonMobil, the big player in the energy industry. Now, ExxonMobil is no stranger to the limelight. Over the years, it has become a colossal powerhouse, making its mark in oil and gas exploration, production, refining, and distribution. It’s been a force to be reckoned with, pioneering new technologies and pushing the boundaries of what’s possible in the energy sector.

But, unfortunately, there’s been a dark cloud looming over ExxonMobil recently. They’ve had to make some tough decisions, which means layoffs are on the horizon. Yup, you heard me right; job cuts are on the way. It’s a bitter pill, especially for the hardworking folks who’ve dedicated their time and effort to the company.

Now, we don’t want to sugarcoat things. Layoffs are never easy, and they can hit you like a ton of bricks. It’s important to remember that even giants stumble sometimes. It’s like that old saying, “You win some, you lose some.” Companies face ups and downs; unfortunately, this time, it’s the latter for ExxonMobil.

Let us gather around and learn the reasons for Exxonmobil’s layoffs in 2023. With that, let us also dig for answers to whether or not ExxonMobil layoffs are going out of business. Is ExxonMobil laying off employees? Will Exxon go out of business? And Why are Exxon employees leaving?

Table of Contents

Is ExxonMobil laying off employees?

Hey there! It looks like ExxonMobil has been handing out pink slips. The Retirement Group and Yahoo Finance spilled the beans about the possible layoffs. And if that wasn’t enough, TheLayoff.com is buzzing about how outsourcing might send even more jobs packing. It’s a tough time for employees with low morale, as they mention on Glassdoor. The company’s been keeping things hush-hush, leaving folks in the dark about the whole situation.

One thing’s for sure, though: the exact number of layoffs and when they’ll happen are still under wraps. But it’s clear from all the chatter that cuts are on the horizon. When it rains, it pours, huh?

The uncertainty must be nerve-wracking, but we’ll have to wait and see how it unfolds. In times like these, folks must stick together and support each other. After all, tough times don’t last, but tough people do, right?

Let’s keep our eyes and ears open; hopefully, more information will come to light soon.

Is ExxonMobil going out of business

Hold on tight because I’ve got some big news about ExxonMobil. Brace yourself, folks, because it looks like they’re heading toward a rough patch. Layoffs are hitting them hard, and there’s even talk that they might be going out of business. Yup, you heard that right.

The past few years have yet to be kind to ExxonMobil. They’ve had multiple layoffs, and things are going from bad to worse. It’s like a sinking ship, my friends. The future could look better for them.

Rumors are swirling around about their financial troubles. They’re bleeding money left and right, and it’s starting to take its toll. It’s like a house of cards collapsing one by one. The layoffs are just another sign of their downward spiral.

It’s a tough pill to swallow, especially for the hardworking folks who’ve given their all to the company. Morale is low, and uncertainty is hanging in the air. People are on edge, not knowing what’s going to happen next.

Let’s wait to jump to conclusions. Time will tell if ExxonMobil can weather this storm or is headed for the rocks. Keep your fingers crossed, folks, and hope for the best. It’s a wild ride, that’s for sure!

Will Exxon go out of business?

Why are Exxon employees leaving?

There are many reasons why ExxonMobil employees are packing their bags and hitting the road. Let me break it down for you:

First off, ExxonMobil has been on a serious mission to cut costs. They want to save a whopping $6 billion by 2023. But here’s the catch: those cost-cutting measures have resulted in layoffs. And guess what? More releases might be on the horizon. Ouch!

On top of that, ExxonMobil has been using performance evaluations as an excuse to let people go. Instead of traditional layoffs, they’re hiding behind these evaluations. Not cool, right? This has left employees feeling uneasy and questioning their job security. It’s a real downer.

And let’s talk about transparency. Or rather, the lack thereof. According to employee reviews on Glassdoor, ExxonMobil must be upfront about the layoffs with their staff. That’s just plain shady, leaving folks on edge all the time.

To add insult to injury, employees are facing long working hours. It’s a real grind, according to those Glassdoor reviews. And with all the layoffs and increased workload, it’s no wonder morale is at rock bottom. People are feeling down, and there’s no sign of pay increases to lift their spirits.

How many employees were affected by the ExxonMobil layoffs

Get ready for the numbers, folks! The ExxonMobil layoffs are no small matter. Here’s the breakdown:

In the good ol’ USA, up to 1,900 jobs are on the chopping block. And hold onto your hats because at least 723 of those cuts will hit the Houston area. That’s a tough blow for the local workforce.

Across the pond in Europe, around 1,600 jobs are at risk. That’s a sizable chunk, no doubt about it.

But let’s remember Canada. ExxonMobil plans to say goodbye to about 300 workers up north. It’s uncompromising news for them, too.

And last but not least, Singapore. The company is set to trim about 300 roles there, which makes up around 7% of its workforce in that location.

What is the reason behind the layoffs at ExxonMobil?

First off, there’s this thing called performance evaluations. ExxonMobil has been accused of using them to justify the layoffs instead of the traditional approach. This has created concerns among employees about job security and transparency. It’s a tough pill to swallow.

Then there’s the matter of cost-cutting. ExxonMobil has been going through some significant reorganization and cost-cutting measures. In 2020, they announced plans to reduce their global workforce by a whopping 15%—around 14,000 people—by 2022. They’ve been on a mission to slash $6 billion in operating costs by 2023. They’re tightening their belts, that’s for sure.

Now, let’s talk about the big elephant in the room—the decline in oil demand due to the COVID-19 pandemic. This has affected the entire oil and gas industry, and ExxonMobil has taken a hit. The layoffs are part of their efforts to adapt to the new reality and adjust to the changes in the market.

And unfortunately, there’s more. Insiders say that ExxonMobil mishandled the layoffs when oil prices collapsed in 2020. This mismanagement has a ripple effect, leading to decreased worker morale. It’s not a good situation, my friends.

So, there are several factors at play here. Performance evaluations, cost-cutting measures, the decline in oil demand, and the mishandling of the layoffs have all contributed to this difficult situation. ExxonMobil is trying to navigate through these challenges and make the necessary adjustments.

What is the impact of ExxonMobil layoffs on the oil and gas industry?

First off, ExxonMobil made a big announcement back in 2020. They plan to slash their workforce by a whopping 15%, which means saying goodbye to around 14,000 employees by 2022. This is all part of their ongoing reorganization and cost-cutting efforts. They’re tightening their belts, that’s for sure.

But here’s the kicker: how they handled the layoffs when oil prices tanked in 2020 took a toll on morale. Workers were left feeling down in the dumps, which could slow ExxonMobil’s recovery. Employee reviews on Glassdoor echo the sentiment, mentioning low confidence due to multiple layoffs and heavier workloads. It’s a challenging situation all around.

There have also been accusations that ExxonMobil is using performance evaluations as an excuse to let people go rather than traditional layoffs. This has left employees needing clarification about job security and questioning the company’s transparency.

Now, let’s talk about the regional impact. These layoffs will hit globally, with a big chunk happening in the US. Around 1,900 jobs are on the line, including hundreds in Houston. Europe, Canada, and Singapore are also feeling the heat, with more job cuts expected there.

What is the timeline for the ExxonMobil layoffs?

ExxonMobil has been slashing jobs left and right in recent years. They’ve had multiple rounds of layoffs but hold your horses. There needs to be more precise info on when the layoffs in 2023 will go down. Let me break it down for you:

In 2020, ExxonMobil announced plans to trim their global workforce by 15%, which meant goodbye to around 14,000 employees in 2022. That included about 1,900 jobs in the US. Business Insider got hold of some leaked documents that spilled the beans on the timeline for the cuts, but those are still hush-hush.

Then, in 2022, ExxonMobil was all about pinching pennies. They wanted to cut $6 billion in operating costs by 2023. But, you guessed it, there needs to be specific info on when they’ll be handing out the pink slips this time.

This Yahoo Finance article from 2023 hints at potential layoffs due to restructuring, but they conveniently should have mentioned when it might happen. And hey, The Retirement Group also said the possibility of releases, but they didn’t let us in on the secret timeline either.

July 18, 2023