Synopsis
Exxon Mobil Synopsis – preparer
Exxon Mobil is one of the most powerful corporations in the oil industry. The company has faced several layoffs due to the decreasing stock values. The first layoff was with the merger of the two companies. Combined Exxon Mobil had 123,000 employees worldwide in 1998. The stockholders were becoming very unhappy with the decreasing stock value. Management agreed that jobs had to be eliminated to help the company survive. The decrease in jobs and other benefits aided in a 3.8 billion dollar annual savings. Exxon Mobil abolished 16,000 positions from its Houston, Texas location. Unlike some companies, 1000 cuts will come from it executive positions in its global operations. The task was completed by the end of 2002. Exxon Mobil in Baton Rouge, La is anticipating plant shutdowns and layoffs. The union has been very vocal in this business decision. Although the union do not believe the Louisiana plant will be hit hard it is inevitable salary employees......
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Approximate Word Count: 315
Approximate Pages: 2 (250 words per double-spaced page)
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