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Joined: Nov 2003
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Campfire Ranger
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OP
Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Temporarily suspended the 6% matching $ to employee 401 K accounts in a cost savings cut.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Jun 2014
Posts: 127
Campfire Member
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Campfire Member
Joined: Jun 2014
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Does this .405 Winchester make my butt look big?
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Joined: Oct 2004
Posts: 23,375 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Oct 2004
Posts: 23,375 Likes: 2 |
Their stock is off nearly 50% from it's 52 week high. Petroleum has been hit hard.
"The Democrat Party looks like Titanic survivors. Partying and celebrating one moment, and huddled in lifeboats freezing the next". Hatari 2017
"Hokey religions and ancient weapons are no match for a good blaster at your side, kid." Han Solo
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Joined: Nov 2002
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Campfire Ranger
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Campfire Ranger
Joined: Nov 2002
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Joined: Jan 2007
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Campfire Tracker
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Campfire Tracker
Joined: Jan 2007
Posts: 3,568 Likes: 5 |
My company did it early on, and it probably saved a lot of jobs. In fact, we have added a couple of jobs. They started the 401k contribution back up this month. I was happy the way it worked out actually.
Clyde
Last edited by BLG; 08/06/20.
The liberal mind is an endless black hole of stupidity.
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Joined: Nov 2002
Posts: 33,827 Likes: 16
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,827 Likes: 16 |
My youngest is on day 4 with Motiva in Port Arthur. They are handing out golden handshakes and tossing non-performers all to be finalized on Monday. A good experience for him I believe.
Conduct is the best proof of character.
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Joined: May 2004
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Campfire Regular
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Campfire Regular
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Posts: 1,015
Campfire Regular
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Campfire Regular
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Least painful way to cut employee compensation. The whole O&G industry is cutting everything to the bone right now. Be prepared for a whipsaw effect on oil prices in a few years if the economy recovers since there will a shortage of people and equipment to meet demand.
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Joined: Sep 2004
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Campfire Tracker
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Campfire Tracker
Joined: Sep 2004
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Least painful way to cut employee compensation. The whole O&G industry is cutting everything to the bone right now. Be prepared for a whipsaw effect on oil prices in a few years if the economy recovers since there will a shortage of people and equipment to meet demand. ^^^^^ That is how the world works, Feast for awhile and then famine, a vicious cycle.
Figures don't lie, But Liars figure
Assumption is the mother of mistakes
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Joined: Nov 2003
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Campfire Ranger
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OP
Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
And why would you even comment were it not?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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OP
Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
My youngest is on day 4 with Motiva in Port Arthur. They are handing out golden handshakes and tossing non-performers all to be finalized on Monday. A good experience for him I believe. Yessir, he is observing economic realities in motion.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Intelligent people, mostly.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2010
Posts: 19,098 Likes: 4
Campfire Ranger
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Campfire Ranger
Joined: Nov 2010
Posts: 19,098 Likes: 4 |
When i worked for a drilling contractor, 4o1k was first to go.
Which was ok, considering how things were.
When it gets rough, just weather the storm and keep on keeping on.
Dave
�The man who complains about the way the ball bounces is likely to be the one who dropped it.� Lou Holtz
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Joined: Jun 2014
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Campfire Member
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Campfire Member
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And why would you even comment were it not? Bore doom, reading stupid posts mostly
Does this .405 Winchester make my butt look big?
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Joined: Aug 2004
Posts: 69,784 Likes: 42
Campfire Kahuna
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Campfire Kahuna
Joined: Aug 2004
Posts: 69,784 Likes: 42 |
And why would you even comment were it not? Bore doom, reading stupid posts mostly Great. Another Cuckpuppet.
Molɔ̀ːn Labé Skýla!
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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OP
Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
And why would you even comment were it not? Bore doom, reading stupid posts mostly Great. Another Cuckpuppet. With such a big posts count.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Jan 2001
Posts: 11,062 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2001
Posts: 11,062 Likes: 7 |
Exxon has always been ( at least the 17 years I worked for them) very conservative with how they spend their money. They ran a tight ship! If I were still working for them, I’d much rather lose a few months of matching contributions....than lose my job! Jus Say’n!
Unlike the company I last worked for, which spent money like “drunken sailors”. When things got a little rough in oil/gas around 2014, they started having massive layoffs in 2015. 4 years in a row they made big cuts in the workforce. I was one one of those in 2016. Thankfully, I received a nice severance package and was ready to retire.....many others were not so fortunate! memtb
Last edited by memtb; 08/06/20.
You should not use a rifle that will kill an animal when everything goes right; you should use one that will do the job when everything goes wrong." -Bob Hagel
“I’d like to be a good rifleman…..but, I prefer to be a good hunter”! memtb 2024
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Campfire Regular
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Campfire Regular
Joined: Feb 2006
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Temporarily suspended the 6% matching $ to employee 401 K accounts in a cost savings cut. Heard any talk of them cutting their stock dividend yet??
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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OP
Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Exxon has always been ( at least the 17 years I worked for them) very conservative with how they spend their money. They ran a tight ship! If I were still working for them, I’d much rather lose a few months of matching contributions....than lose my job! Jus Say’n!
Unlike the company I last worked for, which spent money like “drunken sailors”. When things got a little rough in oil/gas around 2014, they started having massive layoffs in 2015. 4 years in a row they made big cuts in the workforce. I was one on those in 2016. Thankfully, I was one of those that received a nice severance package and was ready to retire.....many others were not so fortunate! memtb Exxon at LaBarge by chance? Exxon still claiming that their dividends are safe.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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OP
Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Temporarily suspended the 6% matching $ to employee 401 K accounts in a cost savings cut. Heard any talk of them cutting their stock dividend yet?? No.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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