20% cut to corporate affairs announced this week. round one of "selection event" starts monday. new org being stood up march 6. no word yet on severance packages.
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Yes, cut to bare bones
Hey, the new buzz word is digital, digital is binary, either 1 or 0, perfect for Chevron management who knows nothing other than 1 or 0, but mostly zero.
FYI - Severance, EOI, or Raising your hand, will be allowed in the Corporate Affairs (PGPA) reorg. Those interested are to inform their manager or supervisor of their intentions as well as HR business partner.
Corp Affairs is made up of 325 employees. They are cutting 20% of the jobs. About half of those are vacant roles. So there will be able 10% of the workforce in Corp Affairs cut, or about 32 people of the 325.
The thing that amazes me is that this transformation has been going on for nearly one year already, and when it came time for the organizational chart to be released the business unit was not prepared. They have already had numerous updates to the org chart and will be new updates for the next 3 weeks ahead of postings for level 4 jobs all because they couldn't';t take one additional day and run any of the plans by the supervisors, managers, or any previous job owner whatsoever. So you have a third party company that comes in and makes up an org chart that doesn't make any sense, from the reporting structure, the location, to the PSG, it has all been incorrect. For example, a colleague inquired about a job description for a job title that currently exists, and it turns out the team forgot to update the job title so that job doesn't actually exist anymore. It's really embarrassing for all of Corp Affairs the way this transformation has been handled and all thos involved should be ashamed of themselves.
Those groups don’t have much in the way of Corp affairs, so don’t expect much impact at all.
How much is to be cut after the merging of PRC,ETC,UC, ITC and creating this new tech service center? These folks are all elites in Chevron.
Do not fool yourself, over 5000 oil and gas jobs are lost in the past 6 months in Texas alone. Oxy, Apache and several service companies announced lay offs few days ago. The storm is coming and no one is safe, just do a simple search on Apache, Oxy and news related, Chevron is no different either sooner or later it will happen, my bet is by end June 20% are already gone. More to come by year end. Happy new year!
The OP did not say 20% of the corporation. They said twenty percent of the corporate affairs department. Huge difference.
CVX may sell most of the overseas assets along with the people to meet 20%. Hopefully Houston has the least impact, as the center of the company.
Given company's stock performance, lack of anything significant other than TCO, Permian, and DEWEP, 20% is company wide cut possibly higher closer to 30%.
This ship is sinking with MW focus only on costs and not outside opportunities that HESS and Apache bet on it. Too short sighted upper management!
- mbi, if you have to ask, you are not really a "40+ employee in GOM"
Severance is two weeks base pay per year of service.
I am currently a 40+ employee in GOM are telephone calls being made to employees in my business unit? I hope so. It would be hard to turn down a severance package at my age and number of years with the company
If you have to ask, you don't belong on this board.
What is corporate affair? 20% is world wide or U.S-wide?