How many layoffs have there been in the last few years? I've seen aot of people mention there have been quite a few. Morale seems to be very low company wide now days due to this and long hours. I can say its been very demoralizing and demotivating in my case. What have people who have gone through this many times done to survive? Does it look like layoffs at Chevron are the new normal?
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All of the things said for sure are taking a toll on the company. At some point the dividend needs to be cut and executive pay be cut instead of continuing to sacrifice employees.
@tzx Well said.
It wears on you big time. Especially when they screw with the PSG of the position you're in so you cannot apply for it. Yeah add me to the list of people impacted by this because BCG and Chevron found a legal way to discriminate against experienced workers.
The inverse is also happening. A colleague's role was bumped up 2PSG with the only change in the description being "programming". So suddenly we're supposed to believe that all roles are now require programming?
Start warming that truck up, definitely moving in that south direction. Can only imagine the next couple earnings call will help move it in your direction. Will be interesting how leadership spins, Noble acquisition during this period of transformation, what assets are on the block to fund the acquisition, what is 1x expense write off for this year long transformation and the go forward expectations from analysts of the ABU investment. You can start backing it up, certain many will join your party,
if CVX share price is over concerning you , you have too many shares, Remember never to own too many of them in ESIP, because if you get laid off and the shares tank you get hit twice as hard. If CVX goes back to $50 I'm backing up the truck
And for what? Chevron share losses (5%) contribute to today’s Dow's 487-point fall
I am doing EOI after 13 years , hopefully someone can fill my position. I was very pro-active as regards saving and investing when the sun was shining, not buying expensive new cars or overstretching my budget and investing the 10 yr bull run, which is now basically over. I expect 2 years of recession and hopefully a vaccine next year but I fear the virus will be with us for most of next year too which will arguably cause the housing market to be severely challenged. Remember the banks are still not foreclosing on all those people not paying their mortgages- when that happens watch out. I'm waiting to see the result of the election, and getting free of Chevron before making any drastic moves. Now might be the best time to sell a house, then wait for the housing bubble to burst (maybe) A lot of this will depend on the economy of course , but its not looking good at the moment. My take is the smart money is holding the market up till the election. Then we will find out next year.
I have been through every oil price down cycle from 1986 through 2015; left before all of this year's nonsense. Every time I focused on my family and developing contingencies. One can find a silver lining out of this. To get away from the negativity be positive and focus on meeting your life and career goals and avoid those with negative energy.
Do as you like @awl, but I don’t think the grass is greener on the other side of this uncertain and declining economy, especially if you know you must continue working before you can retire. Take a spin of the roulette wheel in Round 4. If you get any job, you’re a winner. If you are left standing, you will get the severance package anyway. I’d keep the known quantity, which is a job at Chevron rather than not knowing what comes next.
I took the EOI earlier in the year and haven’t looked back. We all know that the oil industry is both unpopular and declining, but the rate this has been progressing this year has been remarkable. (What in heavens name is going on with CVX stock price? Glad I diversified out years ago, and that dividend-at-any-cost strategy is looking good for me, but not for active employees.) Career advice? Downstream will slowly decline, as demand will still be there (albeit slowly declining) for at least another 20 years. Upstream? Exploration is in a free fall, we’ve known for years now that the traditional explorationists skill set does not translate to tight reservoirs. There’s the old adage that the closer you are to the drill bit, the more secure your job. Engineers for the most part will be fine, as long as fracking isn’t outlawed. If I were a geo-type, I’d be really worried if I still needed >10 yrs before retirement, and those next ten years aren’t going to be pretty either. Hard work? Long hours? That was the norm in the oil industry prior to $100 oil. We’re just regressing to the mean. Next time you run into a Boomer (if there’s any left), congratulate them, they got to live the oil industry in its best days.
Let's be honest, career stagnation, career development programs such as Horizons/Pathways, psg bumps and pay increases are all long gone (or going to be very difficult to obtain).
What is interesting, is most People are expected supervision experience, but yet they are often the ones who get cut/reduced during Re-Orgs to reduce layers. These individuals are the same people who have developed the technical knowledge, or should have the technical background to serve in a Supervision/Team Lead. Yet, those individuals don't want to move because of "getting the axe," at every Re-Org. Thus, people are staying a technical level and backing up system for younger folks to learn or to promote career development.
Yes, I’ve thought about this a lot over the last while. My career has been stagnant for the last few years, I’ve taken on new positions but even then they are just lateral moves. I feel like I’ve stopped progressing and the focus isn’t where it should be any more.
I have been with Chevron 10 years and still have 20 years before I am at retirement age. I’ve been through a couple ROMs in the past but this time it feels different. Morale is the lowest it has ever been.
I plan on hitting the EOI button. I don’t even want to apply for my own position. Just give me my severance and I’ll get out of Chevrons hair.
Seems like the perfect time, even if I don’t retire.
Many energy companies are managing declines more than growing. Reductions should be expected if this trend continues. One question to ask as a potential leading indicator of real change: are people staying in positions that maintain the status quo or are professionals with creative ideas against the status quo supported?
Just face it folks, a job is is job. But a Chevron job is better than most any other other job out there. Show up to work, get paid and go home. That’s what over 90% of workers around the world do. So, enjoy the cushy pay, benefits, bonus, 401k match and the glorious pension. Ask yourself where else will you get all this? Then shut up, count your lucky stars and get back to work.
While I was not laid off, and I commiserate with those who are, I am completely demoralized because there is little to no upward career progression left. As a mid career employee the team lead and manager ranks will not open up for another 15-20 years now. And with Wirth shutting down any real expansion and the push for overseas to nationalize their workforce chevron has now just become a job, rather than a career. The CDP isn’t worth the paper it’s printed on.
Agree layoffs are demoralizing as well as long hours to be ranked a 2 and little opportunity to be promoted.
Yes I have been at Chevron for 11 years now and it seems every few years there is a ROM. I think they will gradually reduce and try to find more efficient ways of working as the need for Oil & Gas plummets. The industry is unpopular and certainly not like it was. My advice? Take the money.