Executive leadership and vision

Lets break down the Calgary office and layoff decision

Quarry Park built and move in Sept 2014 (Cost $416.8 million)
Quarry Park sold 2026 (Sold $60 Million)
Net Loss $356 Million

Assumed an office would be built at Scona (too bad its inside the blast radius), now Leasing Stantec Tower

Announced layoff of 900 people (20% of above field staff) but 81% of Calgary office

R&D center 'donated to SAIT' - $37M donation

Meanwhile 'strait of hormuz' closed and changed forever and Canada is exporting more oil and gas to Asia than ever imagined

Instead of leaning in and leading Canadian energy IMO now won't be invited to the table

Congrats to the executive leadership team, a pancake breakfast will make it all better

#Leadership

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WOW!!!
I looked that up and sure enough, Imperial did in fact sell Quarry Park for 60 mill and lost $356 Million.

That is unreal. How are people not fired over that?

Maybe that is one of the reasons for the layoffs? To recoup losses.
Instead of laying off people, how about firing the people who made that decision?

I'm guessing the sc--wup was done at the CEO and/or Board of Directors Level. So they will never be held accountable. In fact, they probably got a bonus for all money they saved laying people off to cover their loses from their bad decisions.

Life just isn't fair most of the time.

WOW!!!
I looked that up and sure enough, Imperial did in fact sell Quarry Park for 60 mill and list $356 Million.

That is unreal. How are people not fired over that?

Maybe that is one of the reasons for the layoffs? To recoup losses.
Instead of laying off people, how about firing the people who made that decision?

Life just isn't fair most of the time.

The QP campus was the beginning of the downfall where decisions were dictated in Houston. Exxon built a big campus in Spring and dictated the suburban campus model for Calgary, even though continuing to lease space downtown would have been more flexible and cost effective.

Moving corporate and commercial roles to Edmonton when the rest of industry is in Calgary is the latest example of ill-advised changes that don't make sense in the local market. Sadly IOL's board and management committee is just puppets now, and no decisions are made in Canada any more.

Exxonmobil is selling off the assets and leaving the country. This is merely decluttering before the sale.

Thread regarding Imperial Oil Limited layoffs

Executive leadership and vision

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