Do you think the US and UK will get a break and not have a round of layoffs announced in the later part of 2021....unless the stock price sinks or the financial performance slides really far south?
Basically when should the survivors from 2020 start worrying about the next downsizing (modernize, reinvent, reimagine, reduce, reshape)?
Can they replace profits from renewable fast enough and with enough scale, manage the debt burden and keep morale from sinking the company? Suspect will get to be so small and with so little revenue that it will become irrelevant? Now if BP could not manage its base business for the last 20 yrs (check the stock price), is a switch to something new going to do it? Job cuts and salary reduction are needed to pay the dividend and raise money for the new wind farms (which will likely employ about 8 BP staff full time)
I have it on reliable authority that my department will have another round next year, but it will be called outsourcing so it won't be contingent on another directive from Looney.
A significant and growing percentage of their $400bn reserves are not economically recoverable so they’re only valuable on-paper. BPs asset stripping value will be little more than its market cap.
Because bp is sitting on 800b worth of assets and resources even at this oil price?? Genius
Why would they do that when the debt is significantly greater than the value of the company?
A private equity company with money can buy BP at such a low stock price. Finance the debt with low interest rate. Sell off the Assets.
Is the culture of the company itself a poison pill?
Yep, bp has a few poison pills that prevent a buyout: debt, ongoing dwh liabilities, and an unproven green energy strategy
Any company that purchases BP also has to take it’s debt. It’ll never happen.
I'm afraid there's no reprieve, no guarantees. They will downsize whenever it suits them to enhance their positions. I fully expect they will undergo another round in 2021.
Being purchased would suit me just fine.
seems like bp is in a death spiral. wouldnt expect much relief from stress and downsizing....until bp is bought or goes bk