So many people in their mid career age are resigning. Add to that the number that have been PIP forced out and we won’t have anyone in their 40 year age left. I guess people have realized the promise of the pension is no longer real. I for one have seen too many people forced out after decades of high assessments to believe they’re isn’t a real effort to force people out before they can retire at 55.
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How many senior professionals with 20 year experience are needed when we operate only 15 refineries and Guyana, Permian and a few african assets. if you assume 20 disciplines, and each discipline represented across 25 key assets,,,then only 500 CL 28+...and maybe 50 executives (2 for each asset)...Sound like we need much more Executive reduction and reduction of CL 28/29 and slower promotions for the rest. This will steadily push people down the rank group as the bottom 20% are PIP...so the second quintile drops into next pip layer in next 3 years. Assume 5 to 10% attrition with losses grouped in high cost areas and in marginal assets and lower performers. LPRevious high performers with 5 to 10% raises will no longer be promoted and drop to inflation raises as botoom ranked disappear and more 4th quintile people must drop to lowest quintile (an no longer eligible for promotions or pay raises). The distillation column always has bottoms (low value products that must be disposed of at the lowest cost possible. Low value products take investment to upgrade and these investments do not make the cut so DISPOSE