8 Comments
Feb 18Liked by Devin LaSarre

What I like about BAT management is they don't seem to be lazy. Despite massive cash flows, the company remains efficiency oriented. They had quantum initiative, and reported significant savings achieved (I have no idea, and never found any information on how those savings were achieved), and what's more important, but nobody seems to notice, they constantly slash headcount. 

2020 - 55,329 employees 

2021 - 52,050

2022 - 50,397

2023 - 46,727

I wonder how long they can remain on this trajectory. 

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Feb 19Liked by Devin LaSarre

A very rational view, without any hype, but neither stock-price-induced fatality. Thank you.

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