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The growth of renewable wind and solar energy in the United Kingdom and the UK government legislation for more electric cars is going to make all refining in the defensive in the UK going forward.
@1gtk+18DDFHY5 Slight correction. He accelerated it! “Let’s spend Billions and billions of more dollars on projects, and hire more and more people. What could go wrong?”.
When a company as a whole fails on this level you have to look at leadership and this downhill spiral started before Woods. He just kept it going.
Dumpster fire burning?
Please stop blaming everything on employees who took foreign assignments. I had 2 foreign assignments in my 30-year career and worked my @ss of on both of them. Yes - it was nice to have the expat bonus, a couple of other perks and to experience life in another country, but I reckon the company still got its money’s worth out of me.
If you want to know who’s wasted all of the money and opportunities, look no further than the Board, the Management Committee, the Executive Compensation Committee and the corporate research departments. The Board are responsible for series of disastrous strategic decisions. The Management Committee cheers them on (waiting for their turn) while preparing excuses for failures. The Compensation Committee rubber stamps salary and stock awards regardless of performance.
The research departments are just expensive indulgences whose work could have been farmed out to 3rd parties for much cost effective delivery of the same (or better) results. CSR in particular is a black hole of waste.
UK EM deserves every bit of layoff.
Remember those days when the UK offices sent a flurry of expats to Houston who syphoned company money to their pockets and did nothing useful here.
Individuals from the UK and Australia who came to the US on expat assignments so they could shop all day long. When they were sent back, they continued to find "meetings" in the US so they could do their holiday shopping.
What's to discuss? The company as a whole is failing as well.