Thread regarding Halliburton Co. layoffs

This should make everyone feel better with all the cutbacks

April 6 (Reuters) - The top executive for oilfield services firm Halliburton Co earned roughly $10 million more in 2020 than the prior year, despite pledges from the company to reduce executive pay as the coronavirus pandemic crushed the oil industry.

Jeff Miller earned a total of $22.3 million in 2020, versus $12.8 million the previous year. His compensation is 293 times that of the median compensation for his employees.

Halliburton last year pledged to cut executive pay as it laid off thousands of workers in the wake of the coronavirus pandemic, which sent oil prices plummeting and activity grinding to a halt.

Halliburton employed roughly 40,000 people worldwide at the end of 2020, down from 55,000 a year earlier, according to its latest annual filing.

While Miller’s base salary declined by $200,000 between 2019 and 2020, he received some $9.7 million in stock awards, versus $3.6 the prior year.

Halliburton did not immediately respond to a request for comment.

Lance Loeffler, Halliburton's chief financial officer reported annual income of $3.8 million in 2020, versus $2 million the prior year. His base salary jumped from $650,000 to $709,000, and his total earnings were also bolstered by stock rewards.

Along with all the other overpaid C-suite executives. And redundant VP's never seen so many VP's in a business before.

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Post ID: @OP+1aei1Mzd

12 replies (most recent on top)

I love cutbacks in good times and bad.

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Post ID: @bati+1aei1Mzd

Jeff would fit in perfectly into the Texans organization.

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Post ID: @8xgf+1aei1Mzd

What happens at Manor Lake STAYS at Manor Lake.... for the the weekend.

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Post ID: @7kbj+1aei1Mzd

Not surprised the guy made more money in 20 than he did in 19 but remember, the Board of Directors went along with it. They are not your friends either, never were and never will be. The company people quit thinking of the employees in the mid 80's and it went down hill from there. Do yourself a favor and be the person in charge of your own business.

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Post ID: @7zxw+1aei1Mzd

But he started Halliburton Labs!!!! What a forward thinker. Sad days at HAL. Dave was bad but Jeff is even worst.

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Post ID: @6pdd+1aei1Mzd

Actually, the HAL shareholders approved a new executive pay plan increase last year. I'm sure that the shareholders wanted to reward Jasmine Jeff for all his good work in making the company profitable through cost cutting. So, in reality, they FORCED him to take the pay increase! Good on ya Jeffo!

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Post ID: @2swq+1aei1Mzd

Oink, oink. The pigs are fed and ready to fly in the company jet.

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Post ID: @2nma+1aei1Mzd

Lol I saw this news story come up on my feed and figured I’d drop by to see how the c––p show has progressed since I’d gotten let go by my boss’ boss’ boss in May (they had already laid off my boss and his boss that morning 🤣)
Honestly surprised Hal is still a thing.
Guess Uncle Jeff is enjoying his “cost savings” while he can.

In all seriousness, y’all, the constant bad environment that Hal has is not worth your mental/physical health. There really are other good jobs outside of oilfield service. Don’t stop looking or settle for the easy cruise control anymore. I wish I’d taken this advice when I’d been given it back in 2016. Good luck on your futures!

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Post ID: @2svo+1aei1Mzd

Ha! An employee actually did post an article about this subject on LinkedIn 🤣🤣🤣

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Post ID: @2vzx+1aei1Mzd

It's bad for sure. Someone should post this article on linkedin! It actually could be worse though. Marathon received pandemic payroll relief funds from the government and still laid off a bunch of people.

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Post ID: @1tan+1aei1Mzd

Oink, oink. Move along the trough please..........

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Post ID: @1ngx+1aei1Mzd

Workforce struggling and the worst ceo in halliburton history makes money out the pandemic a fukin rat is what he is.

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Post ID: @1nkz+1aei1Mzd

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