The issue is not with ELT. It has to do with profitability.
ELT is highly qualified and needed. Middle management is the issue.
Everybody takes a 15 to 20% pay cut and money saved is for higher dividend.
Most, are overpaid for what they do, give the money to shareholders.
have the complainer, move on, without severance.
A pay cut is not the solution. The skill sets of the individuals are worth the current salary. Cut the salary and the employee goes to work elsewhere, in the same field or another field. The best and the brightest of the IT staff went elsewhere, as an example.
it's time to get rid of the so called ELT
Another 3,000 must go. Make COP great again.
I have a better idea. Get rid of 30 percent of the employees AND cut the pay of the remaining workforce by 20 percent( bet there won't be many that would leave). Would then have sufficient funds to pay the ELT what they want (who cares about the 68 percent shareholder vote, it wasn't binding anyhow) and give more money back to the shareholders by increasing the dividend. It's brilliant.
@NoTwBNt, BS! The ELT are not highly qualified! They have lied and mislead the stockholders and made stupid mistakes and poor decisions!
Remind us of some of the smart moves/ decisions the ELT have done in the past 3 years! Will wait to see what you come up with!