If I were Bob (and I have been in a similar position before), I would take a couple actions. First, take a couple days off and use that time to plan – no, plot – how I am going to change things. Decide what I’m in control of and what I can’t control.
Next, I’d look closely at my outgoing expenses and cut back anything I could – or do whatever it takes to shore up my personal savings, so that I can be without a job for a minute (“a minute” is defined by me as any period of time). If the spouse has to take on a job, or I have to take on a second job, so be it. I put myself in a financial position to be able to afford a little risk.
And then I’d implement a lot of the strategies that have been suggested here. Restructure your organizational system. Delegate more. Don’t be careless but try to care less. Allow non-mission-critical projects or parts of projects to fall behind or even fail. Keep management informed of those priority choices. “Sure I can take that on, but we are well past peak capacity in terms of workload, so which would you rather I put on the back burner, project B, Project C, or Project D.” In fact, better yet, rather than posing questions to management, I just inform them what I’m going to do. “Yes, my team will take that on, but we’re going to have to put project C on a slow-burn schedule and leverage the time we spent on Project D because the return on project D isn’t really outputting to the level that makes the amount of effort worthwhile.”
But I will say that I stopped allowing companies to take advantage of my work ethic. For every hour a salaried employee works over 40 (or 37 as the case may be), your hourly rate is driven down (even though you’re not paid by the hour, your time still has value). Bob is teaching his company what he is worth. Bob is worth so much more, but his company will take anything he gives to it. So Bob keeps giving and giving and giving and all the while, the company exploits that to Bob’s detriment.
So Bob should make a plan, start looking for a job, and shore up his finances so that he can afford to take a hit, be laid off or fired or even walk off and quit in a big huff. And Bob should also start leaving earlier, using more sick/vacation time (even if it’s just a few hours), and start prioritizing. Bob will probably not be lying on his deathbed someday wishing he’d worked more and given more to some faceless corporation that doesn’t give two fucks about him. Bob will most likely wish he’d taken more time off and spent more time with his family and whatever other pursuits and interests Bob has that would be so much more fulfilling and rewarding.
I stepped off the corporate ladder for that very reason. It wasn’t worth it to me. I’d rather have a personal life and I’d rather not be an asshole in my personal life because I’m so damn stressed out in my professional life. So I just stopped being Management and stepped down to more of a front-line professional position that requires zero management. I actually make more money and have a tiny fraction of the stress and by far enjoy my job much much more.