One of the most often used phrases in Lorenzo's Q4 2020 investor call was "cost out" for 2020 and continuing into 2021.
The company is going to continue to shrink.
16 replies (most recent on top)
What happened to that good old days when they said "Rightsizing" and "Force to Load"???
Absolutely true 💯
Amen!
You want effective cost out, lay off those people who are just facilitating meetings and not really adding value to increase revenue!!! The tea time are for those people who does not do any work and always using Covid as an excuse to not working!
It's going to shrink until Lorenzo and a dozen executives are replaced
This will cheer everyone up. Craighead, obviously one of the early cost out initiatives, who probably got a golden depthcharge after he married us all off with this current SoS, when big red merger went south, must be on the bones of his a**, as he has been forced out of retirement to join the board of Texas Instruments. A real Cinderella story hey! Oh I love a comeback!
- 25% of work force
Can we cost out the CEO + 2 dozen executives for 2021 ?
How about you stop fishing and have the guts to figure out plan b for yourself as well. You have plenty of time figuring that out while you’re sitting in that warehouse.
They got to do what they got to do. The company must go on. It’s up to YOU to be prepared if the unthinkable happens tomorrow.
What’s your plan B if you’re no longer part of Baker?
They got to do what they got to do. The company must go on. It’s up to YOU to be prepared if the unthinkable happens tomorrow.
What’s your plan B if you’re no longer part of Baker?
Lorenzo is garbage
Hush hush meetings in Aberdeen today as no work in BOD
Already seeing “promotions” on Social Media. Then the disclaimer “not truly a promotion, but I’m acquiring another district, taking one a bit more responsibility but my role is essentially the same ...”
Same story as usual: Cut heads, spread the responsibilities, dilute the quality of service, and hope business improves. No long term strategy, no planning, no training, nothing.
The only thing that needs Cost Out is the GE parasite that ruined BHI
A cost out initiative sounds like an intelligent, wondrously engineered euphemism for a leaner business model, born out of a team of people who when asked a direct, binary question will always respond with an arcane, elliptical answer.
However in the wider industry, this is not fooling anyone. The customer base know that full time, experienced employees are being replaced by low rent, disposable contractors on an industrial scale. And we all know how that usually ends.
To the employee base, the phrase cost out initiative is in fact a dysphemism. An unpleasant way of referring to a fellow human being as a cost that can be eliminated from a balance sheet without conscience or remorse.
There will be a reckoning.