Thread regarding Chevron Corp. layoffs

Less then inflation raise, lower bonus, but hey come into the office

Collaboration makes everything better

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Post ID: @OP+1kX305wa

19 replies (most recent on top)

@1vro, don't worry, you won't be alone in 'quiet quitting' - it's a longstanding Chevron tradition for those 20+ years who finally realize their careers at Chevron have flat-lined.

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Post ID: @1vyx+1kX305wa

@1nck, I’ve vested 24 years of my life and career with Chevron. You bet I’d like to leave as soon as possible, but you’ve got to be nuts if this insult of a CIP will get me to quit. I’m now hoping for whatever the reason is for more layoffs and severance payments to come. I sure hope Chevron is even more generous with their severance program the next time they need to cull the herd. I’ll be one of the first to volunteer if they write me that check. But before then, I’m showing up for work on time and delivering only the bare minimum to skate on by. Enough is enough already.

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Post ID: @1vro+1kX305wa

Management knows there's a recession (and layoffs) coming. The strategy now is to suffocate any vestige of happiness on the job, to get as many as possible to quit on their own, so there will be fewer layoffs.

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Post ID: @1nck+1kX305wa

@1hqc: Yes, surprising management missed the boat considering all the hardships of the pandemic years. A higher CIP would not have cost that much on the big picture, whereas a higher base raise would be permanent. The grapevine suggests base raise of only 6% this year (including raises for those lower in their grade), so basically it does not even come close to keeping up with inflation. I am sure management's cynical analysis was that most folks don't have other places to jump to just now so moral is not important. They probably did not consider the recent proliferation of quiet quitting.

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Post ID: @1ckc+1kX305wa

@rnu+1kX305wa well, with CIP being overwhelmingly disappointing, the only way morale is saved to any degree is if structure is at least 10%. but knowing the so-called "leadership", that's a pipedream.

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Post ID: @1hqc+1kX305wa

Rumor is 6% structure for US employees. Unsure of structure for other Countries.

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Post ID: @rnu+1kX305wa

is the inflation adjustment for this time a known thing now?? i'm sure it's poor...

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Post ID: @xai+1kX305wa

CIP was calculated by HR to be the amount needed to keep attrition at the desired level.

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Post ID: @mwb+1kX305wa

@ykh+1kX heck they could've done $70billion buyback instead of $75 and given better CIP this year.

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Post ID: @urk+1kX305wa

Tip of the iceberg. As all our assets mature, and there is little new in the pipe, fewer workers are needed and those that remain have lower value. If you get pi---d by the CIP and leave, then good: Simply more saved on layoff packages going forward. This is capitalism, not a charity, and the value you add today is all that matters (you do not own any of the value built up from yesterdays efforts).

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Post ID: @yfc+1kX305wa

And many of us are hit from every f$&cking angle. It's exhausting. Those in the bottom 80-90% lump us in with the problem and hate us, and want to tax us more and make things harder for us. Those in the top 1% want us to work harder and do more with less and magically think we'll just "figure it out". We strive to do this, and still don't get our CIP when we were willing to sacrifice what others wouldn't.

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Post ID: @mfa+1kX305wa

Might want to watch 2009 documentary "Capitalism: A Love Story" for those that truely dont understand the society we live in.
The richest one per cent have more than the bottom 95 per cent combined; a system that claims to reward free enterprise but in fact rewards greed.

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Post ID: @rwi+1kX305wa

Well have you just woken up to the rules of capitalism? Why do you think the rich keep getting richer....because they use hardworking people to make them richer by holding out the fictional carrot of capitalism...you can have the weath too.
It's the rule of the society we all signed up for didn't you know that when you signed on the dotted line....I know I did...accept it or you will become a very bitter person the carrot is truely fictional for 99.999% of the population.

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Post ID: @kff+1kX305wa

yeah 1.4 but hey board lets approve 75Billion buy back so manipulate the stock over several years. Oh by the way who are the ones that benefit the most hummmm.. exec, board director, former exec... BS!!!!!

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Post ID: @ykh+1kX305wa

Out of touch execs and board of directors. Making the rich get richer is the motto here aka Mike Wirthless. Everyone else can get the table scraps after record level profits! Btw safety record was way worse back in the day: CIP’s of 1.8 and 1.5 in 2011 and 2012 with higher fatalities!

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Post ID: @xvj+1kX305wa

Don't worry they'll give you apples and oranges on Tuesdays to make up the difference

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Post ID: @sbl+1kX305wa

All-time high stock price, so execs are smiling all the way to the bank.

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Post ID: @dhe+1kX305wa

The new performance system sucks. The old system and the computer generated raises were better.

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Post ID: @ogv+1kX305wa

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