Thread regarding Chevron Corp. layoffs

CIP

Any rumours on the CIP factor this year?

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Post ID: @OP+12SvMdlm

24 replies (most recent on top)

“Accountability means we all pay if the company does poorly”...tell that to the PSG 26’s+ employees (which account for only ~2-3% of CVX’s workforce) that are still getting their 200% allocation to their LTIP’s while the rest of the company had to compromise their compensation. Doesn’t seem like any management at CVX is taking any accountability for the position they have put the company in...

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Post ID: @vpcp+12SvMdlm

Phantom paper money you say, @uwce? Nonsense. That charge has a real world impact on CVX.

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Post ID: @ukwm+12SvMdlm

Chevron employees lack financial fluency if they don’t grasp how a $10 billion write off affects earnings which in turn affects stock price. Accountability means we all pay if the company does poorly.

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Post ID: @uibe+12SvMdlm
  • 95 announced. What a crock. That write-down is only phantom paper money and there was no impact on our generated revenue but the employees still get to pay for it?
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Post ID: @uwce+12SvMdlm

@ukej, Don’t you know the definition of Crazy is repeating the same thing over and over, hoping for a different outcome? Well, Chevron management is crazy. What are you expecting will change?

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Post ID: @udbi+12SvMdlm

If management are not seriously culled in upcoming redundancies and coal face workers take the brunt, then 0.95 will sting even worse. If they do make managers accountable for terrible decisions that led to the write down, then 0.95 will be ok by me. But I’m not holding out much hope for that. Suspect a lot of good people will leave if they don’t hold people to account in this new regime...

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Post ID: @ukej+12SvMdlm
  1. 95 after management pays back share holders, increases dividend, pays off huge debt, and yet punishes internal workforce for a tax write off when cfo and earning before the write off are on par with some of the best years... Never been more been more dissatisfied.
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Post ID: @uycm+12SvMdlm

If you look at the Chevron intranet page, we finished #1 in shareholder return for 2019. This will result in a decent CIP on those merits alone. However, not sure how it will he tweaked thereafter.

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Post ID: @aezk+12SvMdlm

8fiu, aka Grey Beard is correct. The CIP is still determined primarily on our financial results compared to our industry peer group, condensed down to the annual gain in the stock share price. Other factors obviously influence the CIP factor, of which some is subjective. Bottom line is the BOD sets a max budget for the CIP bonuses for the year and the rest of the explanations are only justifications to conform to the amount to be disbursed.

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Post ID: @9qyi+12SvMdlm

If MW had balls he would have got Anadarko, OXY on the other hand, gambled well and their stock is up 30% the past 30 days, oh well our CEO and entourage are bunch of p......s

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Post ID: @9yfg+12SvMdlm
  1. 0 and no higher...what else can you expect with a $10B write down from AMBU, CBU and $15B TCO cost overrun
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Post ID: @9cml+12SvMdlm

Before I retired 5 years ago ... the Corporate factor to CIP use to be influenced by how Chevron compared financially (ROI as I recall) for the year against it's major competitors (use to be XOM, RDS, BP, COP which might have changed in recent years). The BOD/MCC then tweaked that number. So your start point should be to look at last year's competition financials. I do not follow the energy industry any more but my guess is that CVX was not at the top of the heap this year. Then of course there is the BU/Operating Company CIP factor and the individual factor. As 4KOA mentioned ... the Wirth will share what the Corp CIP is at the WW Telecon.

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Post ID: @8fiu+12SvMdlm

Balls? It took no balls at all. A coward could have said the same thing.

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Post ID: @7kfa+12SvMdlm

Jeff G said 1.4 in last Midland town hall, his guess, takes some balls to say that,

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Post ID: @6ffc+12SvMdlm
  1. 15
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Post ID: @6wyj+12SvMdlm
  1. 05
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Post ID: @5jag+12SvMdlm
  1. 85
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Post ID: @5dbv+12SvMdlm
  1. 35
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Post ID: @5drf+12SvMdlm
  1. 1
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Post ID: @4zxz+12SvMdlm

Just sit back and wait until the Worldwide Teleconference to find out what the CIP factor is. Whatever it is, it will be. Honestly, the only bonus I’m wishing for is keeping my job and getting past the reorg that will be coming.

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Post ID: @4koa+12SvMdlm

"Good isn't good enough".

What does that tell you?

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Post ID: @4zxd+12SvMdlm

If the executives and BOD approve a flat 1 everyone should consider themselves very fortunate. A .90 would not be out of range. No rumors yet.

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Post ID: @1kus+12SvMdlm

there is a chance of a corporate factor greater than 1.0, but it comes with a salary structure freeze

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Post ID: @acp+12SvMdlm

With 10$ billion write down and additional 10$ billion over run for TCO, it will be under 1. The executives will be paid well though for scewing up perfectly.

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Post ID: @xcr+12SvMdlm

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