Has any company ever managed to cut its way - longterm - to profitability? I know there are always short term gains but I'm asking strictly in the long run? The way I see it, once cost cutting is the main (or more likely the only) tool to improve results, the company already has one foot in the grave.
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@1rfc+174mkrvK - I don’t understand why you are making diversity the scapegoat for XOM failure. Among the top leaders that ran the company into the ground, I don’t see any diversity.
Comment wasn’t on burning the leaders as market conditions change. People are not id__ts to not understand market impact. But Comment was doubling down on the same core businesses without diversification or consideration of alternate scenarios as being part of the strategy despite repeated raised concerns. Strategy had gaps even if the market conditions hadn’t turned adverse.
Markets shift so we raise our pitchforks and burn the leaders? This is horrible business strategy.
But where are all the people who proposed the "growth" Business Strategies two years ago in all parts of EM (eg Grow with Purpose) and defended growth in the same core businesses indiscriminately and ignoring any voice that offered an alternate path. Shouldnt there be some accountability?
To be honest 40% of the company needed to go. The most incompetent engineers I have ever seen. They valued the diversity of visual and demographics over the diversity of thought and intelligence. The problem is that they are getting rid of the value-added employees and keeping the "diverse" hires. Will be interesting to see how XOM lands when their stock is under 30$... value investing LOL
HW3
Win win win win win! PA For The Win!
Cutting dividends is insane.. I’m seeing excellent leadership by Darren Woods. Not sure what you PIP-ers are whining about.. boo hoo hoo..
Value investors are flocking into our stock.. didn’t you listen by Darren in his forum this year. Winning!
Sure we can cut to prosperity. All we need to cut is the dividend!
Thought we already had 2 feet in the grave and we are trying to get ourselves out by cutting costs to prosperity. Can’t believe we pay millions for senior management pay for this uninspiried strategy though (not to mention the multiple consultants we engaged to come up with this BS WAEM) PUKE