It is the definition of insanity to keep borrowing money to pay this crazy high dividend all while laying people off. https://techstaffer.blog/2020/12/02/will-exxonmobil-cut-its-dividend-in-january/
13 replies (most recent on top)
In their infinite wisdom, upper management seems to have decided that since they already tried doing subsurface work with geoscientists, now they will try without - because, why the heck not!
They brain drain, the opportunity cost, and the impact on future hiring will be a heavy toll. Maybe algae will render finding and producing oil and gas pointless, but for a company which is dying on the petroleum hill, doing it without petroleum geoscientist seems idi0tic.
Visionary leaders and their artificial intelligence and their make believe portfolio of prospects will keep borrowing for the dividend until the house of cards collapses.
It’s too late. The ball is in motion.
Capitalism doesn’t work that way.
Reduce as much corporate staff as possible.
Pay the dividend!
Sorry but you got that backwards, it's "keep the dividend, get rid of the workers." Where have you been?
Keeping low performers and employees you don't need does not make sense. Investing in low return projects does not make sense. Keeping high opex does not make sense. Manage These things, so you can pay the dividend.
If they get rid of dividends then their stock would tank. Only reason investors give a cr-p about XOM is because of the dividends. O&G is done.
Plus, dividends won't go since higher ups benefit off of it. They dont care much about 401k because that's low level. But higher ups do not want their stock options to be touched!
Lol. You done f—ed up!
I chose the retirement option in July. I bought XOM stock out of every paycheck for over 40 years. The quarterly dividend is now one of my sources of income, so I hope it stays high.
Realistically the dividend should be cut and employees released. Brutal truth.
Insanity is the company losing money for 3 quarters and ongoing, continuing to pay the dividend with debt, AND paying the senior leadership millions in bonuses for a job well done this year (haha!).
But don't worry, our dumb a– leaders seem to think we will double revenue from 2017 levels by 2027.
We are scaling back development plans. Does it make sense to pay people when there is no work for them to do? Downturns s—.
Realistically keeping employees with reduced work would not make sense.
But keeping the dividend which you cannot afford makes even less sense.