Ok we're down to about a month and a half until the impending announcement. I'm sure someone who reads these has some details. What are you hearing?
I suspect everything finance will be centralized to Houston (i.e. no teams at the refineries)
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@153 exactly, to be fair with all India hate, it's not just India, but lots of other "lower" cost centers. Direct labor cost saving is obvious and immediate but all other inefficiencies, rework, missed opportunities and workarounds are not but will come due at some point in the future. Of course, after all the executives vested their RSUs and fat golden parachutes.
@zs more like to Hungary and Argentina.
Wonder how the big managers feel now that the very same high potential people that they sponsored have essentially replaced them or decreased their climb? When I think this company can’t go lower, it exceeds expectations of sleeze.
Finance 2.0 => Outsourced to India
@fx same behavior we see in our department as well. sometimes finance is trying to do engineering analysis to show their value. our leaders are leaning into any garbage numbers they produce - no questions asked. meanwhile we are losing people who actually know the work
Yes 70% reduction is correct. The BU are about to get savaged again with max 1 Finance Advisor or Manager in the unit and everyone else in Houston. It’s going to be a bloodbath. Yet another battle to the bottom.
70% finance workforce reduction over next five years. Centralization and A.I.
Centralizing all Finance in Houston is one of the last steps before offshoring. Dallas and Fairfax moved years ago, time to include the remote sites. What do they do at the site anyway that can’t be done centrally?!
No wonder every finance managers behavior has become extreme backstabbing and creating parallel organization mentality. Our FM practically tries doing every one else’ job; horrible behavior.
Houston?? Haha. Will be outsourced to low cost countries.
Wait til you see Finance 3.0! Due to be released after 2.0 fails (around Christmas 2026).