There has already been a lot said about attrition, and I don’t think anyone can argue that it is high. When people that know this business decide to leave a large oil company that was once a symbol of stability and a good place to be, something is not right.
I don’t think that the O&G sector will fail but with the way this company is run in the recent years XOM might.
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All of the upper management only cares about is keeping our spineless CEO in power so their ranking is maintained. But the problem is, the whole ship is going down and no ones want to tell them that for fear of getting PIP'd.
Those of us that are actually doing the work can see our variable expenses skyrocketing while the many managers are too busy chasing the fixed cost numbers cutting staff or not paying people what they are worth in order to allow DW to impress shareholders. The only reason we are getting away with this smoke and mirror show is that we happen to be making a little money at the moment. The people that are leaving have figured all of this out and are going to be damned if we stick around to clean up that mess. Before long all that will be left are managers who have forgotten how to do the actual work, as they have been playing the ranking game for far too long, then the finger pointing and blame games will start. It'd almost be worth sticking around just to watch the show......almost.
There are such id--ts replacing knowledgeable retirees that incidents are becoming more likely.
Add that to getting expert judgments from BTC engineers that have never visited site and the two items magnify each other.
Literally being run by little chiefs that haven’t got a clue. Watch out shareholders it’s about to go downhill real fast!
I’ve decided to move ALL my shares into something stable - plenty of safer bets than this XOM trash…
Without WW3 looming the true incompetence would be there for all to see.
DW and his merry men / women / them / they whatever are so high on their own hype they can’t see just how dangerous the company path forward is.
Good night Standard. The game is up.
Agree. Terrifying. Major base-business tasks are starting to collapse.