Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Corporate Justice Blog
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

CEO Takes Home $18 Million After Cutting 25,000 Jobs

% of readers think this story is Fact. Add your two cents.


2015 was a rough year for oil and gasoline companies.  Overproduction has gasoline prices at historic lows and the bottom line has suffered across the world for many energy corporations, unless apparently you are the CEO of one of those companies.  Dutch oil giant Schlumberger, the first of the oil companies to report 2015 earnings and CEO compensation, paid its CEO Paal Kibsgaard $18.3 million in 2015, while it simultaneously cut 25,000 jobs and saw its revenues plummet 41%.

According to CNN/Money:  “CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before. The rest of Schlumberger didn’t fare so well. The company cut 25,000 jobs during the year, or 20% of its workforce.  Revenue was down 27%, and profit plunged 41%. Schlumberger shares tumbled 18%. The weak results and layoffs are the result of the plunge in the price of oil.”

Why?  If revenue, profit and share price tumble, why does CEO pay remain at extraordinary levels?



Source: http://corporatejusticeblog.blogspot.com/2016/02/ceo-takes-home-18-million-after-cutting.html



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.