We have reached such operational efficiency that all work is performed by a single Australian man.

To be fair, that profit barely covers the CEO's salary

They're cutting middle management...and most companies have way too many middle managers to begin with.

Cagey B: We have reached such operational efficiency that all work is performed by a single Australian man.

Done in one

Submitter's headline is retarded.

SushiJoe: To be fair, that profit barely covers the CEO's salary

Arn't profits counted after salary?

That should give them a whopping .05% increase in profit if each worker makes on average 25000.

What does that translate into as a percentage of revenues?

Ok so 3 billion in profit. How much of that profit in percentage?

They could have grossed 500 billion, which in that case, 3 billion in profit wouldn't seem so big.

Ah what do you care subby, logic has no place here.

$3 billion profit for the quarter.

For a company with $200 billion in market cap?

Not so big, especially when that company's profits dropped so much in the last year.

Shell laid off 500 senior management earlier this year, before they got around to cutting lower-level jobs. Their P/E is more than 14, which puts them in the "not bad, but not spectacular" level of company profits...

One more time, for you folks who see "billion" and immediately scream "greedy bastards" - three billion dollar profits for companies worth HUNDREDS of billions of dollars is not, by any stretch, greedy.

Drakin020: Ok so 3 billion in profit. How much of that profit in percentage?

They could have grossed 500 billion, which in that case, 3 billion in profit wouldn't seem so big.

Ah what do you care subby, logic has no place here.

Welcome to FAIL FARK.

Where does the line form to defend Big Oil?

I expect a rational discussion centering around the percentage of earnings this figure represents.

Labrat407: That should give them a whopping .05% increase in profit if each worker makes on average 25000.

The jobs are in middle management, so the total compensation (including health insurance, FICA, 401k matching, and whatever else) is at least 100k. The savings is at least half a billion.

/Just sayin'

So if profit goes into research and development, and it's only 3 billion this quarter (say 90 days) what costs more than $33,333,333 a day?

/as I understand it, profit normally goes into a futures account for R&D or expansion

Typical. "We still made a hefty profit, but not as much as last year, so obviously we need to make a blood sacrifice to the Wall Street Gods."

Corporations are evil.

JavanDane: Drakin020: Ok so 3 billion in profit. How much of that profit in percentage?

They could have grossed 500 billion, which in that case, 3 billion in profit wouldn't seem so big.

Ah what do you care subby, logic has no place here.

Welcome to FAIL FARK.

$3.25B on about $75B in revenue, a margin of ~4.3%. THEY'RE EVIL I TELL YOU!

hp6sa: $3.25B on about $75B in revenue, a margin of ~4.3%. THEY'RE EVIL I TELL YOU!

Profit margins do not mean shiat in this context. If I make a product that give me a profit of one cent per unit, but I sell 100 billion units per year, I'm not going to sit around and complain about how I only make a penny per unit profit.

AppleOptionEsc: /as I understand it, profit normally goes into a futures account for R&D or expansion

That's just what they want you to think! The money is really used to bribe congress find new and creative ways to let big oil grind their jack boots into the spines of the consumer class. Oh and to allow them to pollute the earth skies and oceans beyond any hope of repair.

as long as they cut the check for the guy i'm training rhis week

and don't let dave go

Lando Lincoln: hp6sa: $3.25B on about $75B in revenue, a margin of ~4.3%. THEY'RE EVIL I TELL YOU!

Profit margins do not mean shiat in this context. If I make a product that give me a profit of one cent per unit, but I sell 100 billion units per year, I'm not going to sit around and complain about how I only make a penny per unit profit.

No, you'll likely raise the margin to 2 pennies per unit. Or go hollywood finance and get the government to bail you out.

Lando Lincoln: hp6sa: $3.25B on about $75B in revenue, a margin of ~4.3%. THEY'RE EVIL I TELL YOU!

Profit margins do not mean shiat in this context. If I make a product that give me a profit of one cent per unit, but I sell 100 billion units per year, I'm not going to sit around and complain about how I only make a penny per unit profit.

Well, you should, or you're a pretty piss-poor excuse for a publicly traded company. Unless you want the shareholders to run your ass out of the company, you better start thinking about your obligations to their investments.

Friskya: Well, you should, or you're a pretty piss-poor excuse for a publicly traded company. Unless you want the shareholders to run your ass out of the company, you better start thinking about your obligations to their investments.

I'm sorry, did I give you the impression I was a publicly traded company?

To quote the great George Carlin:

"They don't give a fark about you. THEY DON'T GIVE A FARK ABOUT YOU! At all. At all. At all."


/At all.

Job cuts should start from the top. Senior management failed to do their job, and stockholders lost. The "failing global economy" is just an excuse for poor leadership. Excuses are not permitted at the middle management level, and should not be permitted at the top.