Now below $29/barrel. Won't be surprised if it goes under $25. The whole industry is getting pounded. Probably no layoff announcement until Q1 results are out.
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First of all rule #1 = Managers are like Cats they love to cover their sht. rule #2 - the masses are asses. rule #3 The Saudi's are fcks. rule #4 never trust a Russian. This too will pass, the oil industry goes through these wave functions. Hope you have savings, a significant other who can cover the losses and you can hold on. If not, jump change professions, go do something new, something you love. I had manager quit to go be a florist....got his wife to help fund it. He succeeded. I jump years ago but the dark side is powerful, it keeps pulling me back in.
WTI is now at $22.73.
Chevron will soon start laying off people indiscriminately and without much forethought, just to realize after the storm ends that they got rid of the wrong people and too many of them. After this immediate hysteria is over, Chevron will realize another hysteria- a manpower shortage. Recovery will be very slow while our competitors outpace us.
WTI is now at $23.86 and falling. This will be in the teens soon. That is not an exaggeration. We are all going down.
yup - $24 oil is already here!
WTI just broke below $25/barrel. Storage capacity will soon be reached. Total free fall in price is on the way.
A job cull is heading this way fast. Hold on for a rough ride. Backstab your buddies before they do you.
WTI futures are down over 5% to $25.51/barrel. It is only Wednesday. This could hit $24 or lower before the week is out. Check the stock price of Shell, Exxon, Apache, Oxy, Devon, Marathon, BP and others. The day of reckoning is fast approaching this industry.
@oaq the last time it wasn’t the whiners or cryers it was the s— ups and politically connected that stayed. The 50+ were laid off. You know the ones that had a work ethic
Most Valuable Assets (MVA's) = employees, if you could not figure that out. Please get rid of that juvenile and insulting 'Human Energy' slogan. Anyway, as usual, there will be far higher percentage of productive staff laid off than non-productive endless meetings managers, supervisors and team leads. You all know exactly what I mean.
A quick action is required. Chevron is slow as usual, probably in CPDEP phase 2 presently. The existence of Chevron is in danger.
Need to immediately get rid of most middle management positions and anyone who has "champion" or "excellence" in their name. Would save billions while increasing productivity.
It’s time to start dumping their MVA (Most Valuable Assets) in Large Numbers. The way they do it is still up in the air for now. Remember, it’s just business folks....nothing personal! They will win in any environment period....exclamation point and whatever you want to end it with.
Reminds one of the actress who said people who worked for a certain company looked like they died before they died. It’s not the end of the world yet.
To bzn, everyone knows that. What is not known is the total headcount reduction, the reduction in each BU and department, and the week/date when the mass exodus out the door will happen. Do you have this information?
It is now right at $27/barrel. Wait until the Saudi crude oil dump occurs in the next 4 weeks.
oil is at $26 now. between corona virus, food scarcity, and sh–ty oil prices, i think dead people got the better deal
The layoff announcement has already been made, loud and clear. Good lord people, what do you think the functional transformation is all about? Reduction in costs, doing more with less, realizing efficiencies, asset sales, smaller operating footprint, more agile, winning in any environment, etc., etc. = LAYOFFS.
1) Announcements of a restructuring / transformation process from the executives.
2) EOI has been announced, so first the voluntary exit of a few late career persons or others who choose to leave.
3) Complete spring PDC placements
4) High level discussions about the new org and staffing models discussed among leaders (leaders in all areas asked to trim staff)
5) Refreshed org chart review across the enterprise ; new orgs approved
6) Selection processes across affected portions of the enterprise: trim the staff to fit the new model, those not placed / left standing go home
And if the oil price stays low enough, long enough; rinse and repeat steps 4 through 6.
@bgi, from experience, I remember that the losers and whiners are the first to go and those who do also get a much c-appier job for less pay, which would include you and him, numnuts.
No, he won’t de he first to go. From past experience, the company has demonstrated that people like him stay and some get get a better job.... the one vacated after they lay you off. Develop a sense of humor, tightwad.
probably not but you’ll be the first to go