Brace yourself! This is going to be a big one and very much life changing for so many.
33 replies (most recent on top)
This is mostly about MW retiring in Texas to save him state income tax on his lump sum in 2025. When he announced that and also that EB would be next CEO, NH basically quit in disgust. MN is being good soldier and lady-in-waiting if something happens to EB.
It also about saving corp income tax in California, thus the Dec 31st deadline to move HQ (and execs) to start the 2025 tax year in Texas.
This is not about San Ramon employees moving to Houston. Some will but many can stay behind and the jobs move as they are retire over the next 3-5 years.
Houston will have space for folks coming from San Ramon after the the renovation is completed. In our function we are sharing one office with 2 employees that come in 2 alternating days.
Well, we all can see that EB will be the next CEO. Maybe the shocker will be that MKW will leave earlier than planned? Does EB have enough financial fluency under her belt already to take the helm?
Zero severance....wow! Way to take care of your employees as you always preach!
The CA state tax savings won't be significant. 3 factor system (payroll, sales and assets).
CA payroll will drop w/ HQ move but Bakersfield, ESE and Richmond are a significant % of CA- based payroll. Sales and assets factor will change little. I think HQ move is more about attracting experienced oil industry future employees.
So employees will have to actually show up and work? I'll believe THAT when I see it.
Do say more about the retirement announcements...we know who they are but give us the good, the bad and the ugly.
MW might have an “office” in Houston but there is no way he is moving there.
MW will announce everybody back in the office Monday through Thursday… that’s what I was told…likely to start at beginning of 2025…
Oh, things will change. Just not for the better. If you can count on one thing, Chevron will change stuff every couple of years and things will get worse. MW has been a disaster as CEO. I never thought I would miss the days of Watson, but here I am.
What a blood-letting in the C-suite. I would say 'Good', but the chances that anything will change are zero.
Not many will lose sleep over the CHRO retirement. Let’s home MG brings about some change. Although I might have preferred an outsider with fresh ideas. There’s a lot to learn at Chevron though, so I understand it wouldn’t be ideal.
I guess NH lost the beauty pageant
That —- speechless
Houston doesn't have that many space to take HQ.
No more pension
We buying BP? Or selling Richmond? SanRamon got a new fancy office. No way we get out.
YUGE, .......it's gonna effect all of us Bigly, I can't say more.
Fire sale on Lenovo laptops at your local office goods store in 2025
Lease on Lakeside is 5 years so probably 2-4 years left for San Ramon folks. Lots of changes at the top coming out tomorrow and HQ definitely moving to HOU in the very near future.
Are they finally going to put a pirate ship out in front of 1400 Smith?
Way too much outsourcing of jobs going on. Soon we'll have no corporate jobs left. Take a few minutes and contact your representative to urge an end to outsourcing in the US. Takes little effort and time:
https://www.house.gov/representatives/find-your-representative
Gees people don’t be so cryptic. So if HQ is moving to Texas how much time left for SR office? Or will it close right away? Didn’t they just blow hundred million on that place? WTF
Houston Modernization first up is management offices. For the C Sweet.
Large petrotech reductions with many paper pushing jobs sent to India just like our competition. You all thought your jobs were safe and it was only going to be IT, not finding oil for 10 years and constant pi-s poor project management and missing deadlines.
Sweet sweet pink slips, oil patch is getting smaller.
Prices in river oaks just shot up.
More trolls just playing us
Ok. Spill the beans!
I heard it yesterday and was stunned.
Say more
Fast follower to earnings announcement? Shared energy discussion? Something else?
What is this announcement?
Good bye san ramon. A retirement will cause celebrations across the Enterprise. There's more...