Any updates on Shell buying LLOG, what will happen to the people working offshore on the platform?
6 replies (most recent on top)
Well it appears our M&A group sh-t the bed AGAIN. This acquisition would have made sense for our GOM group, and who knows, we could have learnt a thing or two from LLOG, but nope - as usual snagging failure from the jaws of victory.
@jx it is rather ironic that Shell destroys the value that it could use to increase shareholder value. Sadly, we do it all the time. As much as Wael angers me, some of the indiscriminate cutting he’s done was necessary. We go through reshape to cut headcount down to under 80k just to turn around less than 2 years later to be back above 100k hired for pie in the sky “businesses” and more corporate function people. According to our last annual report corporate function headcount was 27k. Granted that includes SBOs and they’re cheap but still. Wael, please stop cutting people that add value and cut the dead weight corporate functions. They’ve had a free ride long enough. Everyone in those groups is interested in their own pet projects regardless of a revenue stream or business needs that work to be done. We could cut nearly all of real estate and outsource with a property management company as a suggestion. We could outsource medical. HR is already a chatbot at best. Whoever audited my expenses just to find an abbreviation I shouldn’t have used could be cut. Dead weight avoids cuts and I can’t understand why.
Shell studies LLOG for a year, learns how a real oil company makes money, implements those learnings.
Who am I kidding? Shell will destroy anything competitive and good about LLOG in the name of standards, diversity, and shareholder value.
@a3 Sir, this is a Wendy's
Looks like the bot phishing for Reuters next story malfunctioned…
@a3 what chemicals did you use to inspire this comment?