How much did they save with the 401k cut? A few hundred million? Now they have $10 billion they don’t know how to spend so it’s going to retiring common stock rather than the long term “commitment” to their employees. Exxodus should accelerate for all logical people. They are going up harvest this place and cut to the bone.
6 replies (most recent on top)
Peons do not deserve cake, deal with it.
Don’t expect major reduction at L2. 3-4 positions total.
I cannot predict L3.
It’s a stupid easy way to ensure that their stock based bonuses are not diluted. But totally agree…. Why not just cut exec bonuses? With CSI I expect an avalanche of retirements. There aren’t enough L2/L3 slots for the current number of L2+L3s. Musical chairs (of hunger games?!)
Avoiding conflicts of interest aren’t a thing anymore. Just say you put it in a blind trust that your kids run and never talk to you about ~wink~
@aqo+1f51IRKx -- Genius! The only step left in DW's plan is to get hired as Secretary of State. That way he gets / "has to" liquidate his shares at sky high prices to avoid a conflict of interest.
This is a super intelligent play by DW. Hear me out:
$10B buy ~ 12M shares with the sky high prices of XOM stock. This achieves 3 things:
- We will avoid 90cents*12M ~ $10M per quarter in dividends!
- The stock will go up so the RSUs will be ripe to be liquidated in preparation for DW’s retirement.
- It pi---s off the employees who will just quit without any severance, further reducing the costs.
It’s a WIN-WIN-WIN play