Oil traders refuse to leave Brussels for London because of low pay [Yahoo! Finance]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance
Staff at the multinational are reluctant to relocate to the British capital amid dissatisfaction with “uncompetitive” pay and a “lack of flexibility”, unions have warned. An internal survey showed most said they would turn down the move for these reasons. Up to 36 traders face losing their jobs if they turn down the relocation, according to a joint union statement in a story first reported by Bloomberg. Those who relocate will be expected to work from the office five days a week and face being sacked if they refuse. Unions are gearing up to protest outside the company's offices in the Belgian capital on Tuesday. ExxonMobil said it remained “open to resolving the situation” but London offered better proximity to trading activities, talent and “will support our evolution as a trading organisation”. It comes after the business, which rivals Shell and BP, asked its traders to move to the UK to merge various teams, as part of a major expansion in trading. Many of its trading
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- 5/15/24 - Form SD
- 5/13/24 - Form PX14A6G
- XOM's page on the SEC website