Meant write off. Damn voice to text.
16 replies (most recent on top)
What a terrible acquisition. NOJV that BU or just shut it down and right off the Atlas acquisition Watson was boasting about a few short years ago.
I just heard AMBU is being reviewed again for another ROM .. Imagine that a business unit losing millions monthly and still kept 450 employees, because they were incompetent to keep experience employees that can do more than 1 job.... Way to Go AMBU...Nigel and his staff are idiots. 51 Hey may save some Houston jobs.....
There aren't any future annual reports. Oh shit...
Did you see the future annual reports? 40k
Look at the annual reports. We had nearly 60k employees in 2008.
What!? No we had 50k. We now have over 60k. So yes it would be drastic.
In 2007 we had about 2k fewer employees than we currently have, so pre-2008 isn't all that drastic and the Alpha cuts pretty much get us there. 2006-2007 was the year with the big jump in employees, when we added roughly 3,500. So, getting to 2006 levels would require a substantial cut. That would be painful though as we are a larger company with more assets to manage than in 2006. Not saying it isn't possible to get to that level, but it will be painful and would require a complete re-org of pretty much every function.
Anonymous130482 Deja Vu to the hilt! Remember the "Big Jobber" restructuring because of horrible investments up to the 82 time frame. It mirrors todays Chevron almost exactly. The end game was when the market value dropped below the break up price of its asset sale off. Then came in old T. Boone Pickens. But Chevron is even more leveraged with debt and its own devil the LNG behemoths (if they ever get done).
They are talking about taking us well below pre 08 levels.
Think if they would've just offered 1,500 people $100,000. Same result. A year faster.
Wow. I wonder if BCG is hiring? They spend that much dough to lay off 1500 people.
On the order of $100MM
I wonder if upper management (upper as in psg 30+) would ever consider taking a 10% pay cut to help ride out the storm. Hell, the place would probably be flush with cash then. They still got their bonuses this year, right? How many millions must one make? How much has BCG been paid so far?
And the grand total is? We are screwed. Gonna keep borrowing and divesting to pay Australia. Hey I saw this play out before. Gulf oil! Offshore was going to be the next big thing. Dumped everything and went all in on offshore. Well... we know how that worked out. I bet some of our older employees are having deja vu
WTF does that even mean? That's like the "So when did you stop beating your wife" question.