Is this mainly focused on the groups in the “corporate functions” overhead org or all of the embedded functions in the businesses as well? Been hearing the overhead groups already found out last week or week prior not sure about the others.
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@112 cool thanks, time to prepare for post Shell life! Ah it was a good run while it lasted.
Still too soon. This chatter won't start up in earnest probably until mid-2028, planning will happen fall of 2028 and then the reorgs will launch first half of 2029, with everyone off payroll by end of 2029. Those promoted through layoffs in 2025 and 2026 will be caught up in the next wave and told how lucky they were that they received so much additional senior experience over these last few years. Those who barely made it through the 25/26 reorg gauntlet and those who work remote to a Hub would be wise to begin planning for a non-Shell career.
what “functions” are even at STCH?
Oh it’s coming people Shell is going to cut and slice STCH
it was lubes on cooling fluid suitable for server submersion and that actually happened. it works well and sells ok. the 200GPU cluster on I-10 uses it
don’t get me wrong, i don’t like our LY very much, but you picked a bad one to clown on.
@eh ask around where they were. Why would you have seen or heard? I heard from C&P who is helping arrange the visit
I remember Crotts and his LT visiring Nvidia 5 years back they all went to Sillicon valley. Only thing came out was an idea of datacenter cooling with Shell cooling gasses or whatever.
Look at the stocks of both companies since then.
@b6 I am in IT and heard nothing about leaders being in US to sign deals with AI companies. I would have heard about it and seen it. One of the major players I know of wasn’t even in our US office this week. They were on PTO.
@b7 was mentioned by YL in the global webcast around 50% cost reduction, also AI, and if one area does it, it’s not like the other areas will be able to do nothing
@b7 there’s another thread on here that talks about it. Looks like reorgs will begin 2027 with reductions to be finalized by 2030. Appears costs of functions need to be reduced by 50% by 2030 from 2026 levels. Not necessarily 50% headcount reduction. You can remove bloated LT roles in some of these groups and achieve near 50% cost reduction I would think.
Where was this 50% budget cuts of the functions announced?
Everywhere apparently, heard IT leaders were all in the US this week to sign deals with AI companies. Anyone know anything about this or seen any leaders elsewhere?
It’s always a popular knee-je-k reaction - just “cut corporate overheads”. To the uninitiated it’s like - who needs leveraged financing, or clever property sales and acquisitions deals, or smart advantaged tax avoidance, or risk management/mitigation, or….etc. etc.
The logical conclusion is just turn it all over to Bob’s Booking Services and get a quarterly balance sheet and income statement. Thanks again, Bob!
Ultimately, a truly successful business can’t continually cost-cut its way to industry leadership.