Exxon CEO Floats Pay Hikes to Combat ‘Major’ Employee Attrition
Darren Woods sought to reassure workers during a town hall-style meeting last week that the oil giant may boost pay packages as soon as Jan. 1 to halt a brain drain
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Exxon Mobil Corp. is weighing salary increases as it tries to halt employee attrition across its business divisions after sweeping job and benefit cuts.
Chief Executive Officer Darren Woods told employees at a town hall-style meeting that they should be “encouraged” by the ongoing salary-review process, according to a recording of the event. “The policies we’re putting in place will get back to where people can begin to see a different path going forward than the path we came out of in 2020,” he said at the Oct. 20 gathering in suburban Houston.