What is going on with all the tight budgets and cuts going on? Transform to Win was promised to be the painful layoff and cuts to set us up for years of success and make us lean an efficient. Then even more cuts are going on now. Is there any other lever to pull or is this all management has up their sleeves is to cut to grow shareholder value?
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Our town hall has a group on this topic every two weeks
It looks like we have hired 2 different people to make the same post. Can we reduce one head and win in any environment?
Our group has a Town Hall on this topic in two weeks. Everyone is nervous.
What employee cuts are you seeing right now?
You either have good exploration team that can find oil like ExxonMobil, or your exploration team can not find salt water in the ocean like Chevron, well then you have to live with what you have and live efficiently meaning cut and restrict budget and spending as much as possible to prolong and maximize life of your asset.
Oil being phased out? I think you inhaled too much gasoline vapor. We are nowhere close to phasing out oil. lol
It’s a commodity industry and the writing is on the wall - oil is being phased out. Banks don’t want to invest, young talent is going elsewhere, and companies are aggressively decarbonizing. Sure oil will be around for a while, but it’s a shrinking and increasingly toxic pie.
Executives know it’s going to be very hard to replace billions in oil profits with new business lines, so they will cut to maintain profits. That’s the new reality
Budgets getting cut yet everyone is out there traveling without valid business purpose and internationally
Look around you. Companies across the economy are cutting costs. AI is replacing people with technology. Self driving cars are replacing drivers. Twitter/X laid off huge numbers of people. Competition drives this. And we all get better products and services as a result. It is life.
@mtu I think either the shareholders should share in the losses or executive management should take a cut in pay. MW got a 10% raise last year for example. Don't pass all the responsibility to the employees.
We just announced disastrous earnings, down by half. Something has to give!
At this point what credibility does management have if they have more massive layoffs after 2020. We are already very lean in many areas. Only sadists want more layoffs and cuts.
Really you drank the cool aid... that win in any environment was just a catch phrase to keep the naive happy while the big cuts were made.
Ad long as MW sits top of the pile there will always be cuts...he knows no other handle to pull. Open your eyes and stop drinking company propaganda.