Thread regarding Chevron Corp. layoffs

Every 4 years is frequent in your view? Just wow. That would be a luxury in many other industries they have a layoff round every qtr every year.

There are bigger forces at play than current management. Any CEO can look like a star in a rising industry.

Managing a declining industry is very difficult and these guys are showing that the are not up to the task. Any big oil CEO (except XOM) is looking inept today. This bring the next question, why the big money then?

MW et al doesn't care what we think about their decisions or management style. They are in charge. Their goal is to ensure that the dividend is paid and any fluctuations in the stock price can be explained away. All the churn that goes on at the bottom is not on their radar screen. I believe that MW and MN think they can run the place all by themselves using ChatGPT to fill in any of the blanks.

To answer the original question: what has changed is the inability of MW's management team to continue effective and strategic investment ... emphasize "effective"! During the 2005 to 2020 period, Chevron was hiring galore to build a portfolio that was the envy of our competitors. Now, they are the scourge of the industry. MW has shown himself to be a nice guy in the wrong position. So, Chevron is suffering. Glad I retired in 2020! That said, unless management changes, Chevron is going to be in a different boat within 10 years. DEI and woke programs have shown themselves to be an anchor around employees necks, and all those high-priced consultants have been a boon for them but a laughing cartoon for Chevron management.

Every position should be filled by the best qualified, most experienced candidates. Everyone else should be sacked as not required

@1feh Really?! How about focusing on actual business and not woke initiatives and dei? How about putting the best people in positions because they’re the most qualified, not because of the optics or who they’re related to.

New to oil and gas, huh? All the OG COs are like this, all the time. Every problem is met with over reaction. A culture borne from bo-m/bust anxiety, and insecurity/toxic professional fomo from executives. I’ve worked at, or with, several - and we’re all the same.

It would take careful thinking and effort to improve our performance system and elicit meaningful feedback. This is a lot like work for upper management, they want to avoid anything dirty like that. It's easier to hire a consultant and make a grand change than to make thoughtful iterative improvements that will make a difference. Ray Dalio is probably the best thinker out there, I wish our managers would read and understand what leadership entails, it's not just meetings and kissing the next levels a-s.

Our strategy is “let’s try some shìt”.

It’s the only lever they know, and it’s the only lever they have.

Chevron is top tier pay especially from Covid, will cut down fat

It's not a bug. It's a feature.

Chevron is too undisciplined to fire or promote based upon performance. So they promote everyone along, deserving or not.

Layoffs afford the opportunity to cut people who should have been fired or who have salaries which have outgrown their contribution.

Exactly where is the layoff at this time and how many were let go?

Like the human body, a fat middle is not good for survival.

That is why you are not CEO op!

It's the only lever MW knows how to pull. His history is clear on that.