The company got rid of all the really skilled folks who made the toughest projects happen and knew how to do them right. They either forced most of them out or let them retire. Then, they brought in a bunch of frauds who just talk a good game and care more about looking good than getting the job done. These new people don't know the first thing about pipeline projects and are solely out for themselves. It's a real shame.
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Wait! Exxon does have a strategy? That's a news.
Don't worry, PDS cycle is here to boost the morale.
@OP Neither does keeping dinosaurs on the payroll.
@jpn we saved a dime in opex but lost a dollar in margin
But money was saved!
It’s the same in downstream. Leaders are gone, workers don’t have experience and we have second lines that are clueless, obnoxious and toxic. Compound issues with forming out technical work and essentially nothing will get done so yes we are saving money because projects grind to a halt and the sls keeps the pip list populated resulting in them looking good.
This phenomena was noticed in Japan at the turn of the century. They have an idiom for this. "Hollywood". Meaning all bull and no follow through. The suit talks the talk but doesn't walk the walk. It's sad but a true state of affairs where upper management tools are selling internally and externally, not truthful, not helpful, not producing anything. But they have a talent for covering their stuff like cats.
True in other parts of the business as well. Management has stopped valuing the people and parts of the org that make money long term in favor of short term gains. The only way the current strategy makes sense from my perspective is if you think the corp is doomed in the long run, and maybe it is.
The root cause is the performance assessment system. Optics and protection for the chosen ones are all that matters.
Just as bad those who want to stay technical and work pipeline projects are systematically punished for doing so with poor evaluations and eventually a PIP