I've long suspected that this was a contrived "crisis". At first I asked myself, "What sort of idiotic management would make a blunder this catastrophic"?. Especially the length and percentage of hedging. It then occurred to me that not even our management can be that stupid (....
). The more i've thought about it, the more i'm convinced that they deliberately made this decision to create a financial "problem" to then use as justification for their actions (as an example, they layed off 800 staff, but they have been rapidly rehiring in nearly all areas immediately after...). I am convinced this was a deliberate strategy, that simply got out of hand, with the price of oil staying lower for longer than they had anticipated. CX knows full well that they will soon be raking in record profits again. Even most of the top Investment Banks have released analyst reports stating so. If we don't stand up to them now (and I suggest that most of us are too stressed and ill to work reliably) then we will forever be crushed, and our careers worthless. I expect to see all my colleagues doing their part over the next 90 days to demonstrate to this venal and self-serving management group that there is a heavy price to pay for attacking us and treating us and our families with contempt. Up to every one of us to do our part to throw it back in their "smelly teeth" (a favourite Churchill quote!). This is THE very last chance to re-establish a proper balance between management and employees. Or does everyone like being treated this way?