In a desperate move to pay a dividend on it’s stock, Aramco is turning to bonds to help fund a $75 billion dividend. Exxon is also struggling to make good with their stock dividend, but will eliminate company-matching fund payments to employees on its 401K plans. Citgo recently announced plans to follow Exxon’s lead. Aramco will probably follow this strategy in efforts to improve their cash-flow position. Previously, Aramco announced plans to sell its pipelines to make good on the dividend payment. More cuts to the US expat employment base is expected.
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What do you expect from a company that operates on lies? Every level lies to the one above in order to save face and garner favour....
Eventually the Bullsh1t has to stop, usually when the lies are uncovered (as they are being now!).
Selling assets to make good on promised dividends is economic s–c-de (what do you expect from these ret@rds however!)....
Good luck to those that remain, the gravy train hasn’t come to a halt, it’s crashed and is a burning inferno!!!!
Good riddance to those thinking that it will only be US expats.
When the company has to go into debt (e.g. bonds) and sell assets (e.g. pipeline) just to make its dividend payment(s); layoffs and cuts to benefits are coming in a big way. Hang into your hats, as the US expats are on a high speed exodus out the back door.