Look I’m usually in lock step with the cynics on this board, but I thought Wall-E was honest and straight forward, Gretch was so so on the farewell, and Cole a lil cheesy with the soak it in moment, but that was one of the better US town halls in the last 2 yrs.
Thoughts ?
3 replies (most recent on top)
It was pointless and gratuitous
lol.
you forgot how they throw around “we are deeply invested in the US” when they are questioned about commitment to EMPLOYEES
they think we are too d-mb to unpack that investing in an oil well in the gulf of america is not the same thing as investing in the future of american labor. our jobs are all getting shipped to bangalore within 5 years.
also - did you catch that gretchen’s entire job is now going to be held at the same time as somebody who has another job? so either the us country chair was a role that didnt need anyone doing it, or its been neutered so hard that there’s not much left, or one of collette’s jobs is very easy so she has time to spare
food for thought right? also remember - these people would shame anyone else who had two jobs, but when they do it - we need to applaud
What would a honest townhall really sound like?
We're in charge and we're making money (us not the company)!!! We're not just lucky we think we're better than you and that's why we're here and you're not.
The big plan is to sell oil and gas or refined oil and gas or assets that produce or refine oil and gas, aren't we genius to do what we've been doing for 110-years? To add style and to signal virtue, we're spending way too much to do solar, wind turbines, and "renewable hydrocarbons". We're also signalling virtue by doing DE&I. The claim that we're doing DE&I adds up to increase the estimates in the "Brand Value" that we report in the company annual report. We believe we can claim more brand value than the detrimental effect of the poor decisions made by not strictly adhering to a meritocracy,
We're still reporting in the annual report we're cutting production of those dirty CO2 molecules by cutting our production by 40%. We used the pandemic as an excuse to cut the dividend in half and quintuple the share buy back. The share buy-back lets us shrink the company but make it still look strong on a per share basis...technically speaking the buy back and dividend combined could make a payment of $7.80 per share, but people don't realize that they're loosing big time by doing this and basically getting less for the next 19-years. Per share is good even if the whole thing is shrinking in a bad way both in revenue and profit. Aren't you willing to give up $47 per share so that 19-years from now the value of the shares for whoever owns them is a bit higher? Come on think about the people owning the shares 20 years from now, not yourself.
We've picked assets and operations that require more work so our staff count is bloated. With the fact we've sold off so much our production and profit have dwindled down by 25%... We will cut raises and cut staff too. First we argued that raises below inflation fight inflation. We'll cut the stock pay out too but just for the lower grades not the executives! So, despite the fact that there isn't company wide layoff and we won't give voluntary layoffs, we're doing things small enough that everyone is constantly under threat. The hope is that you Mr. and Ms. employee will work harder because you are in fear of loosing your job to the competition. We're also hiring in Bangalore to create another force to drive wages down. Expect that we will fire half of you over the next 5-years. If you get fired it is just because you are unlucky and we don't like unlucky people.
If we can reduce how much we spend we think we can make more profit, but the easiest way is to fire people rather than get more and better assets than we have and we certainly don't want to speed up the time it takes to develop our assets.