The morale in Houston is so low. We had a town hall with MA, GB and WL last week, and the employee questions were all negative. People are afraid about job security and angry that their “reinvent” stock awards are not worth much. Trust is super low. Murray keeps saying bp’s strategist isn’t changing, but it’s clear our strategy is changing. Also HL did a town hall in Houston recently. The venue was only half full. No one believed he has anything useful to say.
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So when will I&E and Solutions merge? Presumably this is one of the simplification drives?
I got the bonus lift last and this year, feel really good. My friend at CVX even got a <1 bonus multiplier
In the fine print. The targets are slightly higher than last year - as you would expect but there’s fine print that if there’s a safety issues (or I presume any other issues), the ACB can be re-evaluated by CEO/ board and adjusted accordingly.
Huh?? What changes have they made to ACB?
To the person who is just getting by on a lower middle class salary with 25 years experience. This surprises me. I am paid better than my peers at chevron and Exxon and have received ridiculously high bonuses the last couple of years. Most people I know feel trapped by the ‘golden handcuffs’ that bp offers. Are you based in Houston? Are you willing to share what discipline you are in? I do see that salaries are being eroded for graduates and new hires and I think they are in for a rough ride over the course of their careers.
Additionally - has anyone else noticed the changes to ACB? Seems like someone has realized that bonuses have been to high in recent years. Hence the new targets...
When will they announce layoffs?
This was a soft launch to tell us that layoffs are coming. They mentioned focusing on key projects, simplification and that headcount today is the same as what it was before re-invent. Headcount is the only sure way they can control costs. I would trim GB and WL first.
My situation is I have a college degree, more than 25 years experience, and I am just getting by with a lower middle class salary, while working for one of the biggest, most profitable companies in the entire world. I am embarrassed. bp leadership should be embarrassed too.
That’s not the vibe I felt at the town hall. People seemed excited for the focus to swing more toward Production & Operations. bp’s changing strategy is a good thing for employees in Houston.