Meg joined BP with a lot of fanfare from media and industry group. The employees appear to admire and hope that she is a change agent who will bring about stability, profitability and a sense of purpose to a fragmented and often troubled company.
Will Meg deliver the goods? The company appears to have the same initiatives as MA did and she stood up the same BL and MA actors..”leaders” when will surgical cuts start appearing when will teams be right sized?
KD was an insufferable Woketress has been shown the exit. So kudos to Meg
Meg will not support the retail model once we start seeing insurance and liability claims…Retail and Refining will be optimized.. and half of Helios staff need the boot 🥾
If our stock price had kept up due to organic growth, it would not have tanked like this and lost 25% of its value in the past three weeks. We have no clue how to manage the market.
@wv people don’t seem to understand that, going from coco to cofo or fofo has no real financial upside but risks brand quality. Oh and those employees would not actually be laid off as the other poster (wildly) stated.
People just don’t understand that retail stuff can be made redundant and replaced with third parties running coco sites on commission basis. This will of course be sold to the board as neutral to bottom line but will drastically reduce headcount.
@v6 not fear mongering... its the truth you just don't want to accept it. Just get ready for it. The front line won't be impacted as much but to say they won't be redunancy is a myth. I just will be done quietly vs. a big bang. I don't fear monger, just saying what I've heard
@pb estimating 40% shows you have no idea what you’re talking about. Completely disregards the fact that bp, unlike other majors, operates our convince arm, drastically inflating the number of employees in comparison to competitors. No one in their right mind would lay off an entire sector’s worth of a company unless they were shutting it down. Functionally and mathematically impossible to layoff 40%. Sell offs maybe, but layoffs? Please stop fear mongering with nonsense because you are unhappy.
Meg was instrumental in reducing XOM staff numbers to a manageable level. Meg was also instrumental in developing and offloading the whole BPX divestment from Woodside…so no stranger to massive transformation. But, at BP there are game players and conniving individuals (KD, GB) that have leverage.
MO is going to have to go rouge and allow them to visibly fail.
@r5 also our ”matrixed organization” had a LOT of overlapping roles that piled on our headcount and destroys efficiency.
@qv We are back at 96k because: (1) the retail sites we acquired, (2) we still have some low-carbon people sitting around doing nothing, (3) P&C lets leaders hire pointless roles in our core businesses, and (4) we still haven’t eliminated the roles in the US and UK that are being replaced by TSI. Simply put: we’re good at announcing simplification and terrible at following through.
@qv I told you that KD was effective on the way up and down
@px how the heck are we back at 96000?
@q4 EVP of downstream literally said there will be no impact to frontline refinery employees. I don’t know if it is the same for other orgs.
@pq no its not, wait and see... and then come back for here so I can say I told you so,
I believed she might be and held out hope, but when they got rid of Albert (who was actually holding people to account), and then the underwhelming Upstream and Downstream announcements. I don’t think she is strong enough to fight the toxic culture that has embedded itself into BP. More insead trainings, more diversity quotas, forget the shareholders…full steam ahead.
@pb this is bs.
She will start with a 40% headcount cut, it will be brutal for employees. Frontline is in scope but they will do it quietly...
We need to keep up with the musical chairs of the UK government! They had a leadership change today, our competition is gaining on us!
@ew. I have, unfortunately, been here more than 20 years...toiling and hoping that bP can be salvaged. That is likely not to happen. Ready for severance and to start a real career...
Im being oüptimisticly patient. I want to see how it pans out through the rest of this year before I make up mind about the direction MO is taking the company. Then I can collect my bonus, and consider if I move on. And I’ve been here for more than a decade, so if I get cut I’ll have a decent severance.
@dy perfectly said and spot on. The better title would have been can MO pivot from perpetual corporate self inflicted misfortune!
i disagree with "often troubled"...should be "perpetually troubled with an endless string of acciddents, scandals, crises, reorgs, and strategic missteps".