All employees are in complete suspense except for those who know that they are favorites and are safe in any scenario. The Chevron LT needs to provide details so that the impacted employees can begin planning "life after Chevron".
Topics regarding layoffs at Chevron Corp.
I was awarded a position in the off cycle jobs but would hate to move my family and get laid off in 3 months at a new location when the cuts come through. Does Chevron provide a relocation package back to where you moved from if you are laid off... — read more
Has FGP been shuttered due to Pandemic and Russia/SA glutting the world market? Run by National Stafff? Expat staff repatriated? How about Base Business and expat staffing?
Heard from few folks that many open jobs were pulled, those who have been already got jobs are not sure to be moved or have a job, everything has changed yet they called it the spring g PDC is ongoing, such a fake hypocrisy, be a man and say it... — read more
Now, let's watch the unemployment numbers tomorrow (5:30 a.m. California time)... More than 3 million Americans are expected to have filed for unemployment benefits last week as the coronavirus pandemic shut down much of the country, economic... — read more
How much and how soon will lowered interest rates impact lump sum pensions?
What do you think? Will permanent layoffs start right away or will they wait for things to return at least somewhat to normal?
You can save some jobs and cut expenses. Occidental Petroleum Corp. is cutting salaries for its U.S. employees by up to 30% in a bid to slash ex- penses, according to an inter- nal email reviewed by The Wall Street Journal. The Houston company is... — read more
What are your thoughts? Will they continue with the outcomes of this past PDC or another one (as part as must-moves and trimming) and the resulting expense of moving people around? For example AMBU Pittsburgh, I bet the majority of the people... — read more
From Boss Mike himself: CAPEX reduction from $20B to $16B. Including decreases of $2B in upstream unconventionals, primarily in the permian basin $700M in upstream projects and exploration $500M in upstream base business spread across... — read more
With the inevitable layoffs and the Permian being effectively shutdown, how are things looking for GOM D&C? Got moved to Houston but have not even been to the office due to COVID. Hard to tel what is going on
Dividend is not guaranteed at this oil price.
The oil giant said Tuesday it would reduce its 2020 spending by 20% to about $16 billion, with the biggest cut to come in the largest U.S. oil field, the Permian Basin in West Texas and New Mexico. Basically, we are... — read more
Chevron (CVX) is down over 10% and bouncing around just above $53.00.
THIS SITE IS FAKE NEWS...I work for Chevron and they are doing a lot for the employees that want to shelter in place to protect them selfs with pay. Those that can work from home are welcome to do so. Even the employees on the front lines... — read more
Oxy is an example. Chevron should take prudent decision at this difficult time. Let us pray.
It is inevitable at this point, sell your stocks and have liquidity, for the next 1 to 3 years life will be very tough. The only good news is that you can defer your mortgage payment for 1 year, save as much as you can in your expenses as most will... — read more
Permian fracking has always been sold as an easy to ramp up or down play depending on company needs. But the very steep Permian decline means any ramp down will quickly reduce overall field production gains. It will take many years to just get back... — read more
$10 B dividend payment + Stock Buyback + an unforeseen event + Price below $ 35 = GE or OXY or Boeing or GM
Given the current market condition and virus, will CVX still offer EOI? Any inside news?
WTI is officially below $20/barrel. Sauidi/UAE production/price war with Russia shows no sign of let up. Storage capacity will be a problem. Worldwide demand has decreased by 10mm barrels/day. US production remains high. Honestly, expect WTI to fall... — read more
Pretty depressing message, aside from cutting cost on projects it is obvious they see no end to this for at least 2 years and thus massive lay offs are going to happen, pretty scary, my guess is 30% of workforce reduction across all areas, that would... — read more
In short term, CVX stock price will take a hit but will come back when oil price will improve. It is wise to reduce debt rather than to pay a hefty dividend. Nobody can predict when the oil will be trading at $55 per barrel. In the meantime, the... — read more
This is not good for anyone.
Yep... FAKE NEWS...I work for Chevron and they are doing alot for the employees that want to shelter in place to protect them selfs with pay. Those that can work from home are welcome to do so. Even the emoyees on the front lines that are out threre... — read more
Governor Newsome of California has just issued a stay at home order for the entire state. Chevron headquarters are in San Ramone, SE of Oakland. What now?
Everyone is probably a little excited and relieved that WTI had a nice gain today. Well, even after that gain, it is still just $25/barrel. Saudi Arabia has not yet added any of its production increase, to 12.5 million barrels/day, to the world... — read more
Just heard that Sodexo will not be returning to work until April 13th. Guess that means we won’t either.
I can’t think of a company better prepared for low prices than Chevron. We will emerge stronger and bigger than ever.
Need consultants everywhere. Oil at $20 - bring in consultants Oil at $60 - bring in consultants Oil at $100 - the consultants never left
This is unchartered waters. There could be so much over supply that you have to pay someone to take your oil?? What can our industry do to survive in that situation (trolls will say layoff everyone, all are deadwood, i have all cash who cares...) but... — read more
Post your between the lines reading. Which levers will be pulled? Midland, all contractors gone by CoB next Friday? Furloughs? FGP/WPMP on hold? All MCP CAPEX on hold? Sanha Lean Gas? Anchor? Hope everyone is doing alright out there. Keep the... — read more
While the worst might not be over just yet, there are signs that there is an end game. Folks who are monitoring China vehicle traffic are seeing marked increases. That means we will see a rebound in a few months. The US banking system is... — read more
Fujifilm Pharmaceuticals has developed a d–g that seems to be very effective in treating/healing infected people. You can look it up yourself on the internet. Obviously, this will not help with crude oil surplus.
Given recent events, you would think he would at least post a workplace message....
Hi Guys - can you share what are you doing with your 401K plans - I am tempted to sell and to into cash today. I've been investing agressively and last 24 months were unbelieavably good to me. This downturn took me back to where I was about 15 months... — read more