Lots of good people left standing at Chevron today following Round 3 selections...people who had given blood, sweat and tears to the company for 20-30 years. Official internal announcements coming on Tuesday, September 15. What a shame.
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I've been a contractor there going on 8 years. Like being there, just don't know whT to expect. Cvx isn't being very transparent.
I heard basically not many are left standing in R3 and those who were are actually pushed to R4. So basically nobody leaves.
Yes agreed most R3 left standing will not be going hungry. Still it smarts to be unceremoniously shown the door after decades of hard work and solid contributions. Those left standing in many cases have contributed more to finding oil for Chevron than those chosen to stay, they just unknowingly took the wrong assignment last round and were caught flat footed when the music stopped. I have been on both sides of the fence over the years and it is never easy for anyone. All that said, I wish everyone in R4 the best of luck! May the odds be forever in your favor.
Getting laid off is traumatic (been there before), no matter where you are in your career. Unless you are over 55, (or >PSG 26), it’s unlikely you’re financially prepared for retirement. Those over 55 took the EOI, so anyone who was left standing can’t be content.
While I feel for those left standing keep some perspective they are in the top few percent of wage earners in the country with huge retirement payouts and large bonuses over the years. R4 is where the masses will be cut and many will be left standing and face a tough job environment. Good luck to all
Ok. It’s not a contest. “It is hard for everyone”... just leave it at that.
Those at 26 and above in total are less than 3000 prior to R3, even if the cut is 30%, the impacted folks are under 1000. On the other hand about 30000 to 35,000 are in R4, with even 15% cut at least 4500 people will be let go, the impacted number of parties in the household is far larger as most PSG 26 plus folks have kids that are grown up or in the final stages of college. It is hard for everyone, but certainly harder for those to be impacted in R4. Good luck to everyone.
26 and up a year of pay is less a half year of total compensation
You want us to feel sorry for you. Come on. You were making +400k/yr for how long. Sorry you didn’t save. Sorry you wanted to milk the cow longer. It amazes me how much you all don’t save and blow on stupid stuff.
Sad day. My sympathy to all this left standing. For those thinking it is easier for those with longer experience remember your words down the road: what comes around goes around. Most have more invested in their career than simply a paycheck and folks over 50 will find it harder to find new opportunities. Besides, take my word for it, at 26 and up a year of pay is less a half year of total compensation.
My guess is the average grade 26 has 25-30 years in the industry
i don't know the folks who are "left standing"... in R3. I do know that there are no interviews, a lot will hang on someone's "reputation" and your representative - so you are at the mercy of a rep and his opinions. In the IT Function, all I know is that many good folks who know how to play the "PMP game" and do busy work have already milked this Chevron for a very long time now - and why not, good pensions just to do "busy work" like compliance, process improvment... you can truly RIP (retire in place). Unfortunately many CVX people are not competitive anymore in the bay area. Unfortunately this is not sustainable with this "low oil" environment - now we will have to be as competitive like other companies
Nobody left standing in R1 nor R2, strangely.
Those will be PSG 26 to 28, with most likely 20 plus years with the company or industry, they will get 1 year full salary in advance, so yes not so great to leave few years earlier but it is not catastrophic, wait for round 4 as bulk of layoffs will be within that group and they are the one with worst financial situation, small kids, etc. I have sympathy for all impacted but the R4 would be the one I have all my concern in this tough job market.
Unfortunately the process is designed to meet Chevrons minority numbers regardless of the necessary job qualifications. It’s sad that it’s come to this. Smoke and mirrors
Agreed. I luckily made the cut but we lost lots of good folks. Good luck to all.