https://www.reuters.com/business/energy/bp-activist-investor-follow-this-urges-vote-against-chair-lund-over-energy-2025-03-20/
7 replies (most recent on top)
As someone in IT, there's a huge re-org going on that aims to reduce the headcount significantly and outsource a lot of roles. So we got that covered. The difficult part is reducing the headcount and maintaining "non core" business areas. So I think for Elliot it would be reducing our retail exposure (and therefore reducing staff on that).
Reuters are now reporting that Elliott wants to cut more cost and reduce capex.
Non core services (eg IT) seem like an easy win on the cost front
@fz+1jpt65de8 I've stopped caring. How many rounds of layoffs has it been now under this lot?
If our jobs get threatened over and over, so should theirs. Maybe it will be a bigger cut this time, and maybe we will get competent leaders who grow our stock/options/retirement instead of shifting blame to the workforce for their mistakes.
@fz+1jpt65de8 It’s a sad state of the company when employees (and former employees) have a more positive view of activist investors than the company leadership. It makes one reflect on how we got to this point.
Be careful what you wish for Ellott Management... a total Vulture Capitalists that will increase the layoffs by alot. ALOT. Is known for his cruelty and squeezing every penny out and then running away with so much pain left behind. he does not have the Companies long term interest at heart. OR YOURS
As they said about the reset: that does not go far enough
Helge “sacrificial lamb” Lund