Cost cutting and layoffs related to cost cutting have been on the table for a long time at this company. Is there a realistic limit to which the company can afford to go with cutting cost, and which it can’t afford to cross. Are we close to that limit, given that a lot of cost cutting activities have been performed my this company in the past years? Can we hope to feel just a little safer due to the fact that the company has already cut the costs to the maximum?
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Is there a limit to the cost cutting?— as the topic title questions. Do you that last year, in 2018, Chevron and 90 other large US companies effectively paid $0 in federal taxes? That’s right, no federal taxes. Yet, that’s not enough of a cost cut for Chevron. Oh yes, you definitely have to pay your taxes. For those of you who will have their job cut in 2020, your severance package will be hit with a 25% federal tax withholding amount, most of which will stay with Uncle Sam. Meanwhile, your company may again pay no federal taxes at your expense.
@ 1qgz. I beg to differ on the sentimentality point. All our company tries to do is pump diversity and inclusion bs. Not do a good job and get promoted based on merit. I bet if a dude with a beard showed up to work in a dress he would be safe and vice versa. Our chief diversity officer would ensure he made the homepage.
You know that it is the beginning of the end when the “CEO” and his bagman JarJar Binks give horrible deliveries of consultant produced nonsense...blaming YOU for theOr failures and incompetence...using misquotes from the employee opinion surveys! Time to replace the senior management with actual “Leaders” with actual business understanding and experience!
Chevron is operating a global "for profit" corporation. This is not a popularity contest, nor are decisions based on sentimentality. It’s about financial performance and the ability to make a strong return on investments. Perform in alignment with the corporate targets or "changes" will be instituted in your organization. End of story.
@gaf, If only I could give your post 10 thumbs up. Your comment is so very true.
Chevron is loaded with nonproductive fat, even after all of the layoffs of recent years. All of that fat is needed to justify all of the ridiculous nonproductive processes that have been implemented. Just ask any random employee about this. Everyone knows it is true. So, yes there is still a lot of cost cutting and layoffs that can occur. Unfortunately, it is usually the wrong positions that are reduced/eliminated.
We are working for a company in decline. We are shrinking, not growing. We will continue to sell assets and exit countries. I have to admit I’m growing wary of working here. The opportunities just aren’t there like they have been at the past. You will know when we reach the limit when we start having big incidents at the facilities.