Thread regarding Chevron Corp. layoffs

Corporate performance factor

Would anyone be able to share corporate performance factor over the past 12 years. I know the 2021 1.5 factor was nearly twice the previous year. Interested to track the company performance factor over time.

Also Any guess as to what 2022 might be. Thank you.

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Post ID: @OP+1iTanaI9

13 replies (most recent on top)

Thanks 2sgl! An informative post is so rare on this site;-)

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Post ID: @2nij+1iTanaI9

1jsp is correct ... all the past Corporate Performance Factor (CIP) data is on the web ... if you know where to look for it. In this case, the information is in the annual proxy statement. So as a 2015 CVX retiree I searched that. The last 10 years (2021 back to 2012) are 1.5, 0.75, 0.95, 1.4, 1.2, 0.75, 0.8, 1.05, 1.08 & 1.5). In more recent years, the breakdown of what goes into the Corp Factor is included: Financials, Capital Mgmt, Ops & Safety, and Energy Transition. The Mgmt Compensation Committee (MCC) always has the right to tweak the final Factor as compared to what the weighted scorecard says it should be. So for next year you need to check first half scorecard performance ... but things can change in 4Q22.

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Post ID: @2sgl+1iTanaI9

Chevroids only think about money and their next promotion. Your thoughts will change after you are let go.

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Post ID: @1ino+1iTanaI9

The scorecard is public and the metrics visible online. Very objective.

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Post ID: @1jsp+1iTanaI9

Early in the year I thought 1.7 but with the macro environment and OPG layoffs likely 1.4. I think they will say it is time to tighten our belts after we just loosened them in 2022. Then BCG will claim a 15% cost reduction, nevermind that was the same 15% we cut in 2020.

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Post ID: @1xmt+1iTanaI9

The Company Corporate factor is generally 0% for employees of other companies the last 12 years.

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Post ID: @1hdo+1iTanaI9

The only think that really matters is stock price at the end of each quarter: Q1 and Q2 will pull it up, but Q3 and Q4 will pull it back down. All in, I expect only about 1.5.

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Post ID: @1nrw+1iTanaI9

Predicting a medium factor. 1.5ish. They’ll blame fatalities, as if those of us who are still alive could do anything about it. It’s harsh but true. I can engineer safeguards all over the place. But I can’t put-Darwin someone who doesn’t care about his own life enough to try to preserve it.

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Post ID: @1qoy+1iTanaI9

To combat inflation look for a generous one year CIP, 1.75 or a bit higher.

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Post ID: @1nlx+1iTanaI9

The Corp factor is absolutely top secret information. Only about 50,000 employees per year are allowed to knwo it.

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Post ID: @1tgr+1iTanaI9

Unfortunately it is going to be low. I think 1.2-1.4. They will use it as a mental prep for the 2023 OPG layoffs. I keep hearing "it is not a layoff" from so many BUs which means of course it is a layoff.

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Post ID: @1waa+1iTanaI9

Anyone who gives you factual numbers is violating company policy and is subject to termination. In other words, if anyone does publish such numbers, they're made-up. As for @jnf, you must be new, 1.4 is only for 'good times', with your listed conditions, expect more like 1.0, maybe 1.1 if gross earnings remain stellar for the rest of the year.

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Post ID: @1zdz+1iTanaI9

With recession on the horizon and multiple fatalities, we will be lucky if we get CIP factor of 1.5, my guess is 1.4 and no measurable salary adjustment to offset inflation. Very unfortunate times.

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Post ID: @jnf+1iTanaI9

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