So CVX announces a 75 Billion Stock Repurchase Program. Most likely at 7.5 Billion per year for 10 years. Also, a 6.1% Dividend raise to $1.51 That’s some serious money which leads me to believe that Employees should be in great shape for the future. No Layoffs!
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These buy back plans only help the executives. If you aren't getting stock options, it makes no difference to you.
bei: No it will not trickle down, because there is little hiring elsewhere. Chevron management has always been a follower: We will start worrying about retention about 6 months after our competitors start to staff up… which is not on the horizon yet. By year end, recession talk will have subsided, and we might get another bo-m out of this old cow of an industry! That is the time to jump to get ahead (no one gives much more than a pat on the back to those that stay seated in this industry).
I wonder if we’ll see this trickle down into our bonuses and raises. Silly me, of course we won’t.
Sad attempt to juice the stock price ahead of the earnings report Friday. Brace yourselves.
Things like this concern me even more. Even though things are good our management seem to have a need to layoff to further increase already massive profits. There are talks about laying off contractors. I agree with the hefty profits there should be no layoffs but I'm not so sure.
Way way off. A company does big share buybacks when they can’t find any investment opportunities… No opportunities, no need for employees! The top brass have their compensation tied to short-term stock price and they are just ginning up the numbers by selling the deck boards: long-term be damned.
Wrongo bongo - layoffs to help repurchase shares for the LTIPers