Seems like the new d and s model and the attrition, redundancies and retirements are starting to really hurt executives. Their planners are resigning with no backfills, they can’t staff major projects or roles and operations are struggling.
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Investors won't notice. They will only look at earnings and share price and the growing dividends
It is a huge problem. I want to see them get themselves out of this mess they have created. We can’t even do basic minimum work anymore. Cracks are starting to appear everywhere.
I think it is biting the workers more than the executives. Executives continue to collect fat compensation while workers continue to be. Squeezed to do more with less.
Executives think they can just go tell host governments what to do as if politicians don’t have citizens to answer to and will just do whatever the executives tell them to do. Once they realize the host governments don’t listen they will blame the individual contributors and fire them. In the end good people will be fired and executives will give themselves more stock for taking credit for solving problems they created.
Executives got fat and lazy thinking everything would be as easy to execute as the Permian and Guyana. Now they are crying and throwing their rattle when told other countries have these things called laws that require a whole lot more work to comply with and slow things down meaning we need bigger teams to work the projects and it will take longer to get to first oil.
Eventually it will bite when production decreases and investors notice we can’t execute anything well. And don’t count on the company tractors to bail us out. They are offshoring jobs to India as well and suffering massive brain drain even worse than we are. They are also barely avoiding bankruptcy in many cases. Rising interest rates is not helping them either as they are heavily leveraged.
OP is right about one thing. We don’t have enough people to staff sh-t. They are staffing upstream projects with downstream people who don’t even know how to spell upstream. The poor remaining upstream people meanwhile have gone years with no raise that is meaningful and watching everyone around them be fired or PIPd. Burning dumpster fire everywhere. Welcome to the sh-t show!
Executives always find a way to pay themselves more. Even when the business fails. Remember all the discussion from executives of us being in a ditch yet the very people who put us there were the only ones who could get us out of the ditch! And they were handsomely rewarded both for putting us in the ditch and for supposedly getting us out of it!
@OP Share price is up they don’t give AF.
There are a lot of cuts and a lot of people continuing to resign. However senior management expectations won’t change, so they’ll just pile more work onto whoever is left. They don’t care. And don’t expect the bloated headcount in India to pick up the slack.
Don't overestimate our importance. They don't care. They will have moved on to another business, blame issue on the predecessors and pocket rsu by the time it's a real issue.
Where do they bite them exactly ? Their comp and RSU are not getting bitten ? What’s there to bite ?
They will do just like how they left Irving. No one cares and poor folks will wear multiple hats until they leave or broken.
They don’t care