Can Chevron stop toying around with different words for layoffs? 5000 people are going to be let go this year. Let's just get on with it and stop holding the workforce hostage.
10 replies (most recent on top)
Yes, There's always a chance of layoffs. Those chances are increasing in 2020 and we’re only in January. Don’t blow your bonus money.
Now it's layoffs in 2020? What happened to 2019? I didn't hold my breath then and I won't now. There's always a chance of layoffs. Now is no different.
ExxonMobil and better work environment????? That is not true and XOM is notorious for the one of worst work environments I. The oil industry. And by the way their stock is no better either, their efforts in Guyanna is paying off but for a company of that size they need 5 of those efforts to pay off and they screwed up big time when they bought XTO at the height of gas prices, more write down has to come from them on that, so do not brag about another disastrous company.
Agreed with just get on with it - It is obvious even in a business unit with lots of activity and funding that the workforce has returned form the holidays pensive and unmotivated. The sooner the company does what needs to be done and moves forward the better. The longer this drags on the longer the hangover will remain.
I wouldn't worry about layoffs if you are working safely inside a business unit (except any of those slated for imminent destruction independent of the tr—).
5000 people seems a bit harsh, but it could happen. Growth will be challenging in this social environment (climate change club constantly crying catastrophe) and political pressure from those who will bank billions from global carbon tax implementation. Oil and gas is plentiful and producers have to throttle back just to keep oil at $55 bbl wti. Lean orgs, heavy handed corporate oversight, ROCI and cost control is the mantra of today . Investment banks are flexing their muscle and threatening to withhold capital and or exit the energy sector; so in turn energy companies are struggling to meet their demands and doing all they can to remain at the lending/ investment table. Lets all hope that oil doesn't take a tumble anytime soon. Fingers crossed.
Have you looked at Chevron stock recently? Go figure out how one can change the downward trend? Either you show growth and expansion or cut costs and fiscal discipline and work force reduction, there is no other way, and Chevron CEO has elected the later one. Deal with it.
They have said several times now that this is not a workforce reduction. We should take the at their word.
If only we could speak up and share our thoughts in workspace about this
But no we dont
We enjoy the chevron way