Thread regarding Chevron Corp. layoffs

Reading the Tea Leaves: Upstream ROM

Looking at the recent announcements:

  • Transformation (4 OPCOs to 3)
  • AMBU and Kittimat 4 sale

Seems like there is a little more smoke for the postponement of a spring PDC for an Upstream Global Selection event.

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Post ID: @OP+12szW8CS

14 replies (most recent on top)

Good is not good enough!

What a joke! MW below out 10 Billion in TCO and is talking about good, he is the first to go!!!

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Post ID: @anvz+12szW8CS

Yes there will be blood, and I expect lots of blood. That said, the original statement that the reorganization will be completed Q1 seems unlikely. I am expecting a lot of recycling across BUs on a reorg this large. Time will tell soon enough. For now, my focus is having a great Christmas.

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Post ID: @9psq+12szW8CS

IMO people are greatly underestimating the degree of change that approaches. Leadership has plans to seriously reorganize, realign and streamline the enterprise. The whole upstream organization will be reviewed with a critical eye toward eliminating excess in all its forms. Prepare for major changes in some functions and notable reduction in headcount in many BUs. The few places in the enterprise that are growing and receiving capital will be under sharp oversight to deliver profits and meet ROI targets. By the 3rd quarter of 2020 if your BU is not meeting expectations and delivering strong financial results, look out, targeted pressure will be applied by the executives and positive change will be demanded. The mantra will be: Make your numbers or we will plan your exit. Leadership is not playing, as we heard good is not good enough and personally I think they mean what they say.

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Post ID: @9adi+12szW8CS

A few hundred AMBUN employees will be transferred to the buyer. If they do not accept the offer to move over they will be laid off.

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Post ID: @9vgn+12szW8CS

People will have the opportunity to post out probably. The only problem with that is there is nowhere to go. So they will most likely go with the assets. Ask the folks from the North Sea.

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Post ID: @2wem+12szW8CS

What makes you think surviving BUs have room for all of AMBu?

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Post ID: @2utr+12szW8CS

There won't be a ROM. Chevronites planted in AMBU will return to surviving BUs.

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Post ID: @1wzj+12szW8CS

Place is a complete sh– show

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Post ID: @1ecr+12szW8CS

@eud Ding! Ding! Ding!

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Post ID: @1nux+12szW8CS

When was the last time management wasn’t stressing out the organization with pending orgs/layoffs - 2015??? If it takes leadership 4+ years to figure out the appropriate org structure maybe it is them that need to be shown the door...

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Post ID: @eud+12szW8CS

I highly doubt there will be a spring PDC. They might get rid of those too. There aren’t too many open positions around so what’s the point. Just a bunch of contingents.

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Post ID: @mtq+12szW8CS

Spring pdc is postponed?

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Post ID: @utx+12szW8CS

I wouldn’t be surprised if downstream gets roped in too now that they are included in the PDC process. Company wide free for all. Good luck to everybody.

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Post ID: @xle+12szW8CS

Sounds great. Let's go!

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Post ID: @hsg+12szW8CS

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