Will there be pay offs, in particular for the "functions"? Can't really see how else they are going to achieve the savings they've announced...
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Looks like a 25% reduction in executive function/SLT to achieve the more focused, flexible operations management to changing energy markets to achieve $150m p.a. More hats, less heads so hard to see where the focus is going to be, saying that some of these patsies are going to be wearing their a —e as a hat when q4 numbers land and the eps look pathetic at this oil price and the playbook answers on supply chain, recruiting and re-org hit stoney ground. As for focus, that will be rank and yank!
Management on hopium
Guess your looking at about 1000+ Cost Out Initiatives here. I have a good idea for a COI that would save 14 million USD!