MN is saying to the media that they are being responsible leaders with what they are doing. Responsible leadership would be taking accountability and take pay cuts to save jobs or stepping down completely since the problems are mainly at the top. MW can't even deliver bad news himself or explain how he's taking accountability. Disgraceful leadership!
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Very true, responsible leadership doesn't reorganize a major corporation multiple times and blame its underperformance on all outside factors. Every reorg/transformation this company has gone through has resulted in more work assigned to remaining employees. I've absorbed the work of two employees who have left over the past three years. Good luck finding a single remaining employee who can pick-up my work load.
In a true meritocracy, the coaching staff gets fired if the team underperforms for 7 years.
@a3+1 The market reactions today are broader reaction to the 0.5% increase in inflation and not related to the job reduction announcement. The market has been prepped for structural savings (job cuts and offshoring) since November and has reacted positively to it.
Chevrons cost structure is higher than peers and exponentially higher than independents. Headcount is a significant part of this and has to be addressed. For those who actually work here, you are well aware of the useless management and MSP overhead we have and it has to be reduced. If for nothing else, at least to save our pensions.
The feedback of being direct, decisive, transparent, and accountable was feedback provided to Leadership.
Responsible leadership would not be on the 3rd major reorganization in 5 years.
The media is wondering what bad news is behind these horrible cuts and how bad our business really is. Stock price sagged as investors lots faith in management. A 20% cut is borderline panic.
Agree. True leadership is leading by example.