Thread regarding BP PLC layoffs

bP has been circling the toilet for 20 years. people are being realistic

@15j exactly. These Debbier Downeds have such a sense of entitlement and victim complex that I don’t know how they can perform effectively at work — these people are the reason why companies have to export jobs abroad.

I expect you whiners are massively shorting the stock so you can handsomely profit off of your deep insights and knowledge of the company. No?

selling <100% seems mo--nic

@OP you can’t go by price action during very low liquidity Xmas break. Wait until Q1 then you’ll see the bloodbath in stock price 😂

@c2. this company is worth less than jalf of what it was worth TWENTY YEARS AGO. no value has been created. NONE. bP is sc--wed

@c2 the Jack** is back at it again..

@c2 your comments are usually all the comic relief one needs lol...Why are you leaving your value adding life, blessed by the guiding light of our visionary leadership's strategic genius and divine wisdom, to join us losers on the whining board?

The comic relief these comments provide is so welcome for the holidays. Clearly yall have no clue what the leadership intends with these business changes but not that it matters. Yall will whine for whatever reason regardless of what it is because that’s what you looooosers are — total Debbie downer whiners.

@a7

Because BP boxed itself into a corner.

Stonepeak knew BP had to make a deal and didn't have other options. Stonepeak wanted BP to keep a stake because it forces BP to continue to perform on all of the obligations it couldn't transfer in a full sale and Stonepeak gets a great return with less money upfront.

@av The internal note to employees was terrible. It had a lot of platitudes and jargon that essentially meant nothing. It sounded like they tried to “d-mb down” a press statement. Very disappointing.

@av BP doesn't have keys anymore.

Stonepeak has majority control and guaranteed yield. BP doesn't expect to receive dividends in the short to medium term.

What a failure after the executive team promised $10 billion in capital. BP can't do successful M&A.

@ap Where are they getting the other $9B? We probably will sell the retail business and possibly refining too. Neither of them make much money for bp, but they probably have more value for another owner.

Let's see how effective this new leadership is. A lot of wise words like "simplifying" the business etc etc but the reaility is a bit harder to implement. This deal is an example thus business is worth a lot more so bp retains 35% in a deal that makes another IJV further complicating the business... Let's give them 6 months and judge.

D-mb deal, just like archea. They’re throwing the baby out with the bath water. Where are they going to get another $9B from (of the $20B divestment target) and hit production and profit targets.

Seems that it's a JV. Most likely an NOJV with a few perks in the decision/sway. The JV may retain the name Castrol but the leadership with be dominated by the new folks. Think of how the wind business ended up. Some or most of the employees may just be stuck until it's completion in the next one year.

@a7

That depends on the level of involvment, you can owe 35% of something and be involved as involved only as investor, not operations

why are we retaining 35%? I thought we were reducing complexity of the business?