Thread regarding BP PLC layoffs

Maybe it’s LARs ex.

Dude you're obsessed. Let it go. 2012??? Did these women turn you down?

@7bok+1vecVMrZ When a former CEO was head of the North Sea Oil and Gas and involved with LAR, she was legally married. Her divorce didn't come through until 2012. Even if he hadn't been given the boot for his disastrous net zero "vision", he should have been booted out for promoting those with whom he had affairs. It was too late in 2023. His shenanigans were known about a very long time. It's a real shame for those women in the company who have got to where they are through qualifications and hard work and then seeing these other women being promoted before them due to payment in kind for services rendered. Just because some of these relationships were 'historic' as he described them to the Board in May 2022, doesn't mean to say he wasn't going back for more over the years. Hence, continued promotions.

In hou. If you were part of the right church you also dodged all lay offs.

One of those cretins was left standing in 2013. Quick switcheroo at the 11th hour saved him. Destroyed the career and nearly the family of the poor guy that was supposed to get that job. But it’s ok, does not matter

Let’s put this another way. Name a single married couple where one of the spouses has not been selected in our countless reorgs.

Correction: 3 of the 4 names listed married couples have NEITHER underperformed nor been incompetent. They're actually pretty decent folks.

Nah I disagree - 3 of the 4 names you listed (exception is MA simply because I have zero knowledge of his or his partner's career path) have under performed or been incompetent. Have they been given extra consideration due to the fact they're a couple? Maybe - can't rule that out, but in all honesty when it comes down to it this company (or maybe the good people in this company) has accommodated a lot of people at all levels in all areas through the years, for various reasons - kids wives family issues etc. So I wouldn't mix that married couple point or even remotely compare it to the BL scandal.

Agree on the married couple comment. So many talented people have been pushed aside to create a job for someone’s spouse or partner. BP is all about “favorites” not results.

Also think about all the married relationships where both spouses were seemingly promoted despite lack of performance. Sykes, Krueger, sewani, Auchincloss. To name but a few. Both spouses dodging countless reorgs as to not upset the apple cart. I don’t mind it, but it meant that other more capable people had to take a fall.

And yes I wholeheartedly agree that not every woman in a leadership position got there only by sleeping around, but there's no shortage of women in the LT that can demand a transparent investigation of the matter, especially around BL and DL and others, for the sake of their own reputations and the sake of all the other women in the organization who have been impacted by this BS. The fact they haven't and continue to day-in day-out push the "it's a meritocracy" line shames all of them.

@6qzw+1vecVMrZ I'm sorry but we know for a fact multiple of these women extremely benefitted from these "manipulative relationships" so yeah we can definitely talk about them. Think about LAR and how she left a trail of chaos everywhere she went and was still moving up like a rocket ship. Going to all kinds of conferences and getting nominated to all kinds of societies. Adding endless letters to her signature. Visiting formula 1 to understand more about their technology. Give me a f break. All this at the expense of countless more competent people, men AND undoubtedly, women, who wouldnt do this s**t. All at the expense of OUR money as employees and shareholders. So yeah f all of them. With no transparency or accountability after except for a couple of departures that are probably a small tip of the iceberg, let me say it again: F all of them

Issue is it went further than BL. Even if certain relationships were exposed / disclosed. We know for a fact that numerous woman have done exactly that and the only guy on the ELT that’s clean of this is the chief counsel.

I don’t like that people here speculate about women at bp sl**ping their way into their jobs. You do not know what you are talking about and you are making things up. This is harmful and wrong. And let’s remember who the manipulative person in power (BL) was in these relationships.

@4xob+1vecVMrZ she wouldn't do that because she would have to explain publicly to shareholders about her rapid rise in the company and how it was facilitated. Peterkin Principle? Love in the afternoon?

@4shr+1vecVMrZ 'bed partner?' If I owned a hat, I'd take it off to you. Was she one of the two he wouldn't name, therefore she has been able to keep her 'job'?

Good summary, did anyone also notice the questions were not visible but cherry picked ! why was that ?? and there was some seriously cringy moments during the call, the body language said it all with GC sat between WL and GB

I hope some day someone writes a “tell all”, maybe LAR? She seems the type.

The fact that GC is still here means she's working on revising the enormous clusterfu-k she delivered with her bed partner 4 years ago.. so an admission of the shitfest she and her mckinsey trolls created. Don't expect anything exciting in Feb.. Murray should have gutted her like a fish 24 hours after taking the job.. a sign he didn't shows that the sh-tshow will continue with tinkering around the edges... such a shame

I’m out, off to the Middle East, best of luck to all, hope you fare well, but I am done.

Play to Win! bP share price is negative on 5-day, 1-month, 3-month, YTD, 1-year, 5-year, 10-year, and 20-year time frames.
hopeless

In true British fashion, bp dumped Russian connections as a pu--c ploy only to reconnect thru additional Indian (Russian) connection. Everything a Brit (or Canadian) tells you is a distraction or cover-up and the market knows it.

Im wondering if JD here is one of MA top lackeys here? Have a hard time being ok with moving employees away from its most profitable source, the US, all to India as a big thank you America for the $$$$ - we are hear to sc--w your workforce.

@aei - that one in Houston?

Muzza might be able to reverse bP's massive and long-term misfortunes but I wouldn't bet on it. This company is significanty and irreversibly sc--wed. period

I didn’t say there wasn’t a lot to fix. Things need to improve. Quickly. We have moved too far from our core, we’re too fat and investment decisions have been heart over head.

I believe Murray can bring us back. I believe he understands we went too far too fast. I believe he is pragmatic and will make bp efficient again. He’s not the best marketer but he is a good business man. He has already stopped 15+ projects.

The question is - will he make the strategic pivots and personnel changes required. In all areas of the business.

I think he’s keeping his powder dry until Feb’s market update. The top 50 was an eye opener. He needs to be bold. He can’t be friends with everyone. He needs to choose his battles - and then fight them hard.

I don’t think he’s just earning a wage.

JD. That’s hilarious. Please explain the massive discount to peers and the purchases of TA, Archaea, the offshore wind investments? Hydrogen and CCUS in the US? Really we have little to no infrastructure left and have zero reputation here. Exxon are kicking everyone’s butts on this stuff. The management has done a terrible job on strategy - dating back pre BL.

Thought they did ok.

MA did well. He’s got a tough gig and he’s a good man. Is out there doing it - man in the arena - instead of being a chat room keyboard warrior ;)

There needs to be more of a pivot on strategy. They also need to talk to the market more and not just core investors.

There is a chance to unite against the activists - investors and pensioners. Greedy to a fault. The pensioners are shameless. The ones who need the money aren’t the ones spamming LinkedIn. Crying when they’re getting bigger increases than current employees. We owe them nothing. They’re attacking us while getting more than us. Back in your box. Find a hobby. Or a job like the rest of us if you’re tight.

Only investing in lower risk opportunities will work. The world is too turbulent to spear head this change. We’re not a charity. Governments need to step up.

I’d actually like to see the guy from aker bp come in as ceo

Panmure Liberum analyst Ashley Kelty summed the situation up perfectly as quoted in todays Energy Voice: “While the results are positive, the big negative is that there was no commentary on strategy with investors hoping for a pivot away from the low margin renewables business and a return to focus on higher margin hydrocarbons –like all of the other majors.

“We remain unconvinced that the incumbent board have the courage to change direction and revitalise the strategy, as the majority of them were all lieutenants to Bernard Looney and had bought into his (value destructive) vision. Whether CEO Auchinloss will be given time to change his mind remains to be seen, but his seat is definitely warming up…”

Hearn is British. Both the chair and the ceo will not survive this. 4Q results will be even softer due to continued price pressure. They’ll be gone by end 1Q.

Well, as expected. I have to say that this lot has helped me a lot during my psychotherapy - fighting an impostor sundrome, insecurities etc is much easier if you think about them and their position :) If GC and Murray can rise that far, the sky is truly the limit.

As to the company - BP needs to sack them off(they botched reinvent, they are gonna fail at this transformation as well), bring external leadership, cut the dividents and paybacks drastically and spend that money on employees and investments in our core businesses.

Would work, but of course never gonna happen. So... back to psychotrherapy...

Nigel Hearn of chevron is being lined up to come in as CEO

i focus on what i can control...working an inflation-adjusted workweek

How GC is still in the company is a mystery. However, is it not a mystery that out of all the partners in McKinsey who were available, that BL chose her? I don't think she has ever had an original thought to call her own. As for Kate and the others on the LT, if an outsider had been brought in, they would have had no loyalty to a group of people who consistently underperform, while being paid a huge remuneration package. I don't think there is a top flight outsider who would want to take this mess on.