All employees are in complete suspense except for those who know that they are favorites and are safe in any scenario. The Chevron LT needs to provide details so that the impacted employees can begin planning "life after Chevron".
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This is the Chevron way- were you not around for the ESP or ROM? All about being at the right place at the right time, nothing to do with having a good skill set or being competent. With this acreage, it’s appalling CVX does not net more cash flow.
2010 it was -20% with oil at $20 hmmm prob a lot more, but who knows, I bet the LT is running the numbers to factor in all scenarios. 30% I have no clue, it’s going to be deep. I imagine quite a few layers of middle management Worth did say they would try to keep the actual people who run the machinery. Hint hint
That is what I hear too. The severance package is not necessarily a given. You can expect more of it this go round.
@1xzj+14ciRm5Z, basically HR advised because I had an opportunity to post and wasn't placed, I was ineligible for severance. Be aware that, generally, it is customary but not required for companies to pay severance. I checked my employment contract and found no clause(s) that guaranteed severance. Also, had I quit or been fired, I would not have received unemployment or my CIP check earlier this month - both of which I received.
No, this won’t be 2015/2016 all over again. It’s going to be much worse. In 2015/2016, many other parts of the economy we’re doing well. The economy for 2020/2021 is going to be in a deep recession. A tidal wave of unemployment across the country has just begun and will go much higher. The stimulus bill signed into law on March 27 won’t be big enough. There will be another round or two of stimulus money needed. It will take the US over a year to begin to see an ounce of recovery. The future here and around the world is bleak, folks. Don’t go thinking this will be 2015/2016 all over again. This is a whole new thing coming.
this is 2015/2016 all over again
@1fcx+14ciRm5Z how could they not pay severance if you were laid off? it is different if you quit or were fired for reason.
This is a large complex company. They are likely working as fast as they can but it will take awhile. When they get it figured out they will communicate.
The atmosphere is pretty toxic presently. Many of us are being targeted.
I was laid off in December and have no ill feelings about it, even when Chevron declined to pay severance. In fact, my family and friends said they hadn't seen me more happy in awhile. I was a relative short timer and would say the culture became more toxic when oil collapsed in 2014, so I made little attempt to post to other positions and hoped to be laid off with (with severance of course) when told my role essentially was being offshored. With that said, I can assure you there are many disgruntled folks still employed with Chevron who stay on because they're doubtful they would receive the same income and benefits for the same or similar work elsewhere.
Seems like some disgruntled folks here who were laid off with great prejudice or possibly outright fired for gross incompetence.
So well written. The Chevron Way is a tool used by managers to reward and punish at their will.
One thing for sure will be, when Chevron informs you that you’ve been laid off, it will be done in the most spineless way possible. You’ll see and remember my post. I’m sure it’s not an easy task and there’s no best way to spring the news on someone, especially a good worker who really needs to keep their job. But, one way or another, the way they’ll do it would be as cold and spineless as can be. That will be your takeaway, to remember for a long time, for the many dedicated years you’ve given to this company. Want proof of this? You’ll know when you find out who remained employed after they dusted the floor with you.
Two things:
1) LT stands for “Leadership Team”? BS. Could be Lost Tampons.When they started calling themselves “Leaders,” they weren’t even managers.
2) The Chevron Way is the same as the Golden Rule = those with the gold make the rules!
Some background:
Started with BP in 1980.
Worked for Chevron from 1983-2008. Saw the light in early 2008, retired to get my lump sum pension and worked for two companies thereafter (both way better than “Uncle C”.
Retired completely in late 2019.
My thesis advisor had one thing for me to remember when he learned that I was going to work for an oil company: “just remember that oil company managers would sell their mothers to a cathouse for a dollar. If you don’t forget that you’ll be OK.”
Agree. Just live for present. Who knows future?
right now I'm just thankful paychecks are coming in, working from house and no commute, and decent home to live in and food in the fridge. If you having many years in and over 50 plus, even with market crash, the combined lump sum, 401k and potential severance not a bad place to be compared to many folks out there.....
This is no different than any other Chevron layoff or anywhere else. You guys seriously need to get out a bit. No company is 100% transparent when you are getting ready to get the knife. Any more questions?
Oh, so sorry, my mistake. I didn't understand that you actually thought that an omnipotent empathetic executive would visit the layoffs site and tell you exactly what Chevron has planned across the enterprise, each segment, BU, department, and right down to your specific team and role?
Wait and see. If you want facts, there it is, you will know when you are told. Happy now?
Chevron LT moves very slowly. Be patient.
Well thanks for this long-winded narrative that basically says you don’t know anything. You’ve mastered the art of spewing out bs.
I think there are many options on the table for executive consideration and action. Layoffs being one element of many paths toward improved efficiencies. And yes, in all probability shrinking the headcount is inevitable. To what degree, what % of staff, specific numbers for each business location, how deep the overall cuts will be remains uncertain. I don't think all those decisions have been made. It would be reasonable to postulate that the restructure underway in Upstream for example will be broadened and deepened to include greater cuts. But there is also significant political pressure to avoid layoffs at this time, so temporary furloughs or salary cuts are two additional tools that can be used as well. I think we will see a mix of strategies employed depending on the BU, area or functional department of the enterprise. Its certainly coming but I don't think anyone really knows at this time, except maybe the highest levels of leadership who have established definitive targets and been tasked with meeting those targets. My thoughts are to be thankful for every successive paycheck you receive, to use it wisely, and save what you can for reserves.
Lay-off is inevitable. It is an open secret now.