Exxon Plans Below-Inflation U.S. Pay Raises Despite Banner Year

https://www.bloomberg.com/news/articles/2021-12-02/exxon-is-planning-below-inflation-raises-for-u-s-staff-despite-a-banner-year

Think it’s reasonable to say that although oil prices are higher than average, big oil isn’t too quick to shell out any excess profits to their employees. Interesting to see how the largest company facing a massive secular decline and corporate overhaul will reward its employees – the article states “The oil giant will increase salaries by an average of 3.6% for those employees who performed with ‘merit’”, while “U.S. consumer prices jumped 6.2% in the 12 months through October, the most since 1990.”