Thread regarding Chevron Corp. layoffs

@qfz I hope we're all pleasantly surprised with a good CIP, but this earnings report does set the stage for a "frank and candid" (euphemism for "bad news") Town Hall to tell us to "redouble our efforts" to save money in these "challenging times". What do all the quotation marks mean? 1.1 CIP.

Just another (quarterly) peek into a hopelessly declining Chevron. With feeble and underfunded Exploration, there can be no long-term growth. This is by design, not by accident (i.e., fossil fuel exit). Acquisitions? Even Noble only gave us a couple of quarters of respite. With a demoralized (and rapidly departing) staff, there can be no insight or technology breakthroughs to maintain production. When SR spends their days worrying about social engineering and California opinion, and having an amateurish energy transition strategy, the company will gradually (over the next ten years, we are seeing the beginning) enter a tailspin. The handwriting's on the wall, as I've said before, if your career plans are greater than ten years, it's time to start formulating Plan B.

I’m sure it was the fault of d&i in HSE.

Off of estimates but still the most profitable since 2014. So we better not get a bu-----t CF

The analysts were wrong because they didn't know our production was crashing (because we failed to inform them). If you look just as recently as the 2019 investor day presentation (which included Thailand/Indonesia contract disasters), production was supposed to rise 1.5 million boepd with new projects! They forecast 3-4% CAGR 2018-2023. 3% would have put us at 3.23 mmboepd in 2021 but we were at 3.1 even with the Noble acquisition (400,000 boepd). Without Noble, our 2021 production would have been like 2.8 mmboepd. We are shooting the rapids.

Taking write-offs, complaining about Covid and how it affects business, too many people, etc. ... have been nothing but excuses from Wirth. He was given a Rolls Royce and he treats it like a Volkswagen ... he has no clue how to run a business. Just when oil prices surge, and earnings should go up, he takes write-offs. Chevron MUST REDUCE MORE STAFF! Period. Wirth said at CNBC that there has been a huge curtailment of travel by Chevron employees ... where is the increase in earnings from that! Lets see what XOM report looks like. If they get close to analysts expectations, its time to get Wirth OUT!

Hope this isn't an opportunity to rear end the rank and file with a low CIP. Was counting on at least 1.25 to make up for the low 2021 CIP.

How is this possible after all the cost cutting, lay offs and oil prices? MW should be help accountable

Title should be “analyst miss again”, the analyst miss more often than not with every industry and company.

Big miss for CVX is more like it. But, this is going on everywhere. As of this week, almost one third of the S&P 500 companies have seen declines of more than 10% in their stock price from their all time highs. We’re in a stock market correction, the DOW, NASDAQ and S&P 500 are down 10% and even more. More and more stock market experts and economists are bracing for a further 20% decline, some say even 30 to 40% further decline. If you have cash on the sidelines, wait a bit longer before Dollar Cost Averaging into the market.

no doubt he’ll make the rounds on cnbc, bloomberg, anywhere else he can disappoint investors.

stockholders take one in the shorts everytime he shows his face.

EVERY.SINGLE.TIME.

starting to hope those xom merger talks last year come to fruition.

why is xom up double what cvx is this year ?

move on dude.

Dividends and buybacks are now double of capital expenditure. He is starving the future to pay for the now.

$15.6 billion in net income for 2021. Let’s see who gets the $.

Maybe if he lays off another 20% he can meet his target?