Board numbers are being reduced https://www.reuters.com/sustainability/sustainable-finance-reporting/outgoing-bp-chief-auchincloss-earned-53-million-pounds-2025-2026-03-06/
They could probably reduce the board further but at least this is a start!
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@w1 drill more oil and gas, produce more oil and gas, sell more oil and gas.
@fy so you think they hired 2 very expensive leaders to do headcount reduction? That can be done by my son who is still in primary school. I expect a bit more from them....maybe some good ideas about the strategic direction and how to navigate the energy transition.
@fy where's the 25% gonna come from....evenly across the board, or are there parts that are overweight?
My gut feeling there will be a 25% cut in headcount. Brace for the impact and be prepared. They didn't bring Manifold and Meg in from the outside to keep things the way they are. It will be quick and drastic. Despite how P&C tried to spin it, GB spoke his true feeling when he said the bottom 10% would be better at another company. That's a cryptic message. If you were ranked bottom 10% relative to your peers, be prepared psychologically.
There will always be a bit of churn amongst the officer corps on the bridge. But the real rot we must address is below deck and you'd better believe Meg will tend to that very quickly. Buckle up folks.
EVP & SVP next!
Hopefully the LT is next