Thread regarding Exxon Mobil Corp. layoffs

Exxon market cap is down $70 billion since the boom and not improving!

Our management thinks we can just keep lumbering along until this change passes. They don't realize that technology has changed our business forever. Economics are different now. If we don't start reducing cost, reducing size of work force, sell marginal assets, and dropping long term capital intensive projects, we will soon find out if we are too big to fail!

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No our management believes we are big enough to weather this as we are! Never mind oil prices will remain where they are and volitile for a decade or more. Never mind that we continue to invest in long term capital intinsive projects in areas where the host gets 50% and hopefully does not up that before the project is complete.

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