Thread regarding Shell Oil layoffs

Ben's latest disappointing news for those who are loyal to the company and are sticking around - another year of getting stiffed - get used to i

An update on pay and variable pay
For all the resilience we showed last year, it still cannot equate to the financial success we had hoped for in 2020. As you know, we were far from meeting the conditions that would allow us to deliver a Group annual bonus for 2020 of anything other than zero. And I know that is still a big disappointment.

Unlike some other companies, though, we chose not to reduce base pay as part of the short-term cash preservation measures we took in 2020. Even in the face of what were acute cost pressures, we think preserving salaries amid the uncertainty was right. Back in April, we did have to set expectations that any salary increases would be very low – if they were increased at all. I can confirm now that salaries will not be adjusted in February 2021 for the majority of Shell employees.

As disappointing as that may be, it’s important to know that Shell’s remuneration remains competitive – even without any increases this year.

Moreover, looking ahead, we want to again be able to share success with staff. Our 2021 Group Scorecard will be published later this month after Strategy Day. It will be based on the new operating plan for 2021, and provides a competitive bonus opportunity for employees. Eligibility for share awards and pay benchmarking will continue this year, to make sure we remain competitively positioned. And we know how important it will be – after we have set out our strategy later in February — that we all feel we have a shared stake in Shell’s future. I’ll share more on this later in the month.

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Post ID: @OP+19gIy8TT

10 replies (most recent on top)

I have a friend at CVX. She got both a bonus and a raise.

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Post ID: @aavu+19gIy8TT

Sounds like some of those @$& kissers who comment on every Yammer post found this thread.

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Post ID: @4see+19gIy8TT

Sorry but what did you really expect? Shell and the industry as a whole is a complete dumpster fire and you expect a fat bonus and a raise? What a joke

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Post ID: @3bbs+19gIy8TT

to preserve cash. should seriously consider pay cut especially at the executive level. -10% base salary for everyone below letter grade and -20% for letter grade and above. Cutting spend on maintaining asset is just asking for a deepwater horizon like event to happen.

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Post ID: @3sns+19gIy8TT

This thread is full of trolls or puppets from ben

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Post ID: @3sew+19gIy8TT

The management is very warm, open and kind. They have just as much concern for your well-being as a close family member.

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Post ID: @3ssk+19gIy8TT

Waiting patiently for HR to approve my SVS. I am done with Shell. August can’t come soon enough!

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Post ID: @3djd+19gIy8TT

The management is very insightful and extremely intuitive, with a constant eye on the future. All employees should embrace the cuts to pay and benefits. Take one for the company, instead of taking for yourself. It should be an honor to work here.

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Post ID: @2hvp+19gIy8TT

Shell as an oil company will not last 10 years in the new energy market place. In the meantime, a few things may happen like mergers and takeovers, breaking up and selling the pieces to realise values.
To shift to renewables will entail a total cultural and management overhaul and anyway its already much too late as Shell is not a first-mover advantageous position.
I forsee a slow and agonising death as reserves get downgraded because demand erosion starts.

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Post ID: @2xde+19gIy8TT

The only solution is to fire that loser

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Post ID: @1xnc+19gIy8TT

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