Q3 2018 Earnings Conference Call

Paal was so proud of TRANSFORMATION.

"By advancing our transformation program further over the past 4 years, we have completely modernized our internal workflows and organizational structure and created stronger and more professional support functions with cutting-edge planning, execution and collaboration tools. This allows us to significantly improve the utilization and reduce the operating cost of our asset base through improved planning, distribution and maintenance."

---- Again, very abstract description of TRANSFORMATION and its results.

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All those words ring hollow when you realize Procurement needs 30 people and 16 months to deliver an office stapler.

The problem is that the people who brought all the BS have ironclad protection regardless of their mess, while other employees are simply too scared to make any negative comments against the BS. What a great blue print and culture!

E2E is dead in the water. Whoever dreamt up this BS deserves sacking.

The only visible growth from the mgmt has been their own compensation plan for PK and the league of executive imbeciles. Thousands of employees and their families could have been saved with the ridiculous executive compensation during this downturn. Yet, our "leaders" are still trying to steal more and more every year.

Typical sugar-coated comments from the management. Haven't really seen any noticeable changes and benefits from this BS as well as engage to excel.

Transformation will be complete and operational within same timeline as Sagrada Família construction schedule start to finish.

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Q3 2018 Earnings Conference Call

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