Wael lays off 20% when oil price is high - now he’s waiting for it to fall so that he can do another re-org. Looking at oil price trends, he might not have too long to wait.
Still, he’ll get his multi million dollar pay packet and still not no vision for the company.
Wael’s only strategy seems to be headcount roulette—cut big, wait, then spin the wheel again when the price dips.
I think the 98,000 will fall significantly by the end of the year as most people who got cut last year, will be leaving the company mid 2025. So I think by end of 2025 we will be around 80 k
98,000?,,,, where do they all work,, or where are they hiding? Are these gas station employees?
it’s because of his powerful subconscious draw to calCUTta
cut cut cut cut cut cut cut
It's because of India. Total cost of labor for the organization is probably lower. And likely to go lower by shifting to India even more.
As of 2024 we still had 98000 employees. Just mind boggling that we are still over bloated.