Chevron announced today that hit will reduce staff by 10-15%, around 5000-7000 employees. Reductions in staff will commence in June.
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Wow. Management is sending conflicting
Information to employees. Very poor leadership.
Right @1vfq, a non event....until it happens to you. Don’t count your chickens until the eggs are hatched.
If CVX is cutting 5,000 to 7,000 jobs....how many job cuts in the U.S.; in Houston vs. San Ramon?
Sounds like PSG 25-27 will be noticeably reduced. Do Manila and Buenos Aires end up adding positions?
Hold on to your collective hats, the choppy water is upon us
For CTC, any insight into how the 20% to 30% will be distributed across ETC and ITC?
Does anyone have total %cuts?
So far I gathered:
DS&C is 9 - 12%
CTC is 20 - 30%
SASBU - 40%
EBU - 40%
Midstream - 15 - 20%
At least 10% will EOI, so the lay-off will be 5% or less. A non event.
Exxon doesn't layoff in the technical sense of the word. They increase the % of people ranked at the bottom that will leave. The typical range has been 2-4%. They'll increase it to 10-15% (I doubt it will go to 20%) and tell the affected individuals that they can either take a sweet 4 month of competition and be separated or they can be placed on a PIP that they have almost no chance of successfully completing and will be terminated in 2-3 months.
@1yzo Exxon lays off every year with the small exception of the years they grow like the last 3-4 years. They have increased their current targets for 2020 and 2021. You don’t know what you are talking about
No layoffs at Exxon. Carry on....
@xzf: thank you. As an employee I feel completely out of the loop on what’s happening in terms of numbers.
This headcount reduction is a long term cut. The same for other large oil companies. If you can get into a new industry, then do it.
If CTC takes a 20-30% hit and EOI’s have been offered to the BU’s will there be that much blood in the BU’s to make up the total 10-15% company wide? Not sure of the overall numbers for TCP groups and BU groups.
Was it not too long ago that somebody posted on here that Geagea and Johnson's organizations would bear the brunt of downsizing, effectively Wirth making them pay for mismanagement of Tengiz.
To answer one with confusion on 10-15% vs 20-30% reduction.
There are 2 separated trains of reduction effort.
10%-15% is target for enterprise evolution - Original scope for regional support model but not creeping to all BU level
20%-30% is target for functional transformation (aka ETC-UC merge to be CTC)
It’s 10 to 15 across the entire corporation. 20 to 30 across JG’s org (CTC).
There is definitely conflicting information being shared. Geagea sent a note yesterday morning quoting 10-15% reduction, followed by another email from him quoting a 20-30% reduction. Then Wirth posted a video this morning quoting 10-15% again. Anyone know what the real range is?
And we knew it’s actually 20%-30% for those who are really involved.
Uh, we knew that yesterday......