They are gutting this company. As part of company plan they have the 2030 target of employee count at about 47,000 employees. We are going to an asset light model. Look at the recent Australia news as the playbook for the next 5 years.
The higher oil prices to, the better you would think. Nope that just means they can divest everything quicker. As an employee you’re now sc--wed in a high price environment.
They’ve been told by the consultants and bankers this model would mean trading at a higher PE ratio because the market would view it as less risky because we might make less money but have less fixed costs.
We’ve spent about $30B buying back stock at elevated prices and the stock has gone nowhere. Great job MC. It’s almost as criminal as continuing to pay the dividend instead of using the cash to buy low and grow shareholder value. They now want to grow by cutting.