https://finance.yahoo.com/news/conocophillips-reports-first-quarter-2022-110000553.html
Unfortunately, I don't have any hopes that we will somehow benefit much from the fact that Conoco reported a five-fold increase in profit from a year ago...
9 replies (most recent on top)
"entire organization dedicated to DEI" remind me how many are in that entire organization? Before we get all snarky like that, I'd like to remind you how horribly inefficient, ineffective, and value subtracting that 80% of employees at this company are.
RL bailed out last week when the stock was $121.21/sh and pocketed ~$70.9 MM. Meanwhile, I’m down 25% in the last two weeks.
I’m sure RL will indeed get compensated for the improved profitability.
How about a Variable Paycheck for employees along with the VROC? How’s that for SPIRIT values? Yes shareholders and investments come first, so who is next?
A more interesting thought would be to extend RSUs to Business Professionals that actually make the decisions made happen . No decision made in this company does not result in the action to execute or support without them. Petro Tech careerists depend on them to walk them through business processes and elevate them to future positions. Go SPIRIT Values! Keep the division going.
I am happy to be working for this company. It has taken care of me and in return give a honest effort. Regardless of that the compensation models between Petro Tech and Business Professionals needs to be re-evaluated.
Profits should be used to reward the stockholders either by dividends, stock buybacks or well managed investments. Comp and benefits should be adjusted as needed to attract and retain a workforce suited to support COP’s rather technically unchallenging portfolio of mundane assets. Now is a great time to cut costs.
Time to pay-up to keep our employees who are bleeding out the doors to tech (at least in my business related function). They leave COP for +20% pay increase, similar work/life situation, and they get loaded up with company stock on day 1. Only hi-pots and 17+ consistently get stock. So those guys continue to get rewarded with higher dividens and buybacks while the rest of us get our meager 3.3% annual increases (-5% purchasing power this year, which is an effective pay decrease).
Time to pay the piper RL
Here comes the layoffs so front line workers can have more “meaningful” work
our profit is so high we can create an entire organization dedicated to DEI.
MGT - money grabbing time