No profit sharing for the peons!

"Our profit-sharing program is a discretionary program designed to reward our employees when the company achieves superior profits and performance for our shareholders.

In 2019 our earnings remained significantly lower than historical levels and did not meet our expected targets. Additionally, we recorded a write-down and our share price remained depressed during 2019.

In this context, the executive management team has made the difficult decision not to award profit-sharing for 2019. We understand this news is disappointing." - Gavin Rennick

Meanwhile

"The three NEOs received the following grants of RSUs in April 2019:
••an award to Mr. Al Mogharbel of RSUs having an estimated grant date fair value of $2.0 million; ••an award to Ms. Gharbi of RSUs having an estimated grant date fair value of $1.5 million; and
••an award to Mr. Schorn of RSUs having an estimated grant date fair value of $1.5 million."

and

If Schlumberger performs as poorly as NOV, Technip, Weatherford (f—ing LOL!!!), executives will get 100% of their bonuses. If they perform like 4% better (400bps) than this peer group, they get 200% of their bonuses. LMAO.

Remember to vote YES on executive compensation proposal for 2020. God knows they need it.

Comment! It's anonymous!

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As Benjamin Franklin said; the only 2 certainties in life are death and PIPs. Just mention the possibility of scaling back PIP and other bonuses, and watch G11 and up spin their heads around like The Exorcist!!!!

$76,000 for children's education.... I say whaaaaat..!

Executive "salary cuts" is an emptiless gesture. Their stock awards are the real prize.

Salary is the most visible number. And gets taxed as ordinary income.

The dividend and growth from their stock awards are taxed way less. And makes them even bigger slaves to Wall St.

And they earn them from trivial performance targets.

Vote against everyone who serves on the compensation board.

Cameron (owned my Schlumberger) quit giving shop employees a yearly bonus two years ago. The rich get richer...that the RICH mans way. F— them.

Our executives compensation is out of control (currently employed or laid off=advisors still on payroll). Infamously taking selfies around the world, and you people like dummies feeding their ego by “liking” them!

To check out the Most Despicable numbers go to page 49 and see the Executive Compensation Tables and Accompanying Narrative and to page 50 to see their allowances all approved by the stinking board.

https://investorcenter.slb.com/static-files/f969ef62-86a5-4a1b-ac6e-33e7e0bbad4d

In the meantime CEOs of respectable companies are taking salary cuts like all their employees!

When is the last time schlumberger awarded PIPS?

Every year. Just check the executive comp section in the proxy statement.

Relax?.... Only the pension bonus. Still not good though and Pips should be cancelled as Schlumberger has under-performed heroically.

Two in a row, time to polish off the resume and start banging on non-oilfield doors for better job opportunities!!

When is the last time schlumberger awarded PIPS?

But we have money and profit to give dividends and fund pre-insured Notre Dame cathedral.

No profits means no profits to share.

At last the miserly bonus given to shop floor staff has outperformed those on Pips.

$10-12bn loss last year... what did the thicko PIP slaves expect? I'm sure the cheerleaders and drum bangers will still claim Schlumberger knows what it is doing.

In other words, we use a shorter measuring stick to dole out bigger rewards to our executive managers.

Regular line employees can go and s— it.

Thread regarding Schlumberger Ltd. layoffs

No profit sharing for the peons!

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