Other oil and gas companies are cutting everyone's salary, including management, by 30-50%. Would that be a better solution ? I doubt it - the whining would triple.
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The other companies did not put out a bizmol earning, and it shows how the managements are so incompetent. DWEP, is another BU that will crack pretty soon. The D$C organization is terrible and the D&C manager and his entire team are so full of themselves with poor comptency. We've been saying lucky so far that a major accident like Macondo hasn't happened to CVX yet. All of the well safe and well complex are waste of money and just a justification for survival of dead woods. Shame on you guys. I can't believe in the earning,
I worked for Chevron until 2013. Working for Total. Chevron employees keep whining. Your management team from top to bottom is totally incompetent. That's the difference. Unless you work at Chevron you do not know how bad it is. Do you understand your companies leadership is so bad they can not deliver any project? They invested at the possible worst time in the oil boom. Half of there market cap? The other majors shook there head at the 90 Billion spend. Whining? You should be bitch slapping them for screwing your livelihood. Hey all the majors will pay for a low commodity market. But this is way more about low commodity prices for Chevron. It will now expose historically incompetent management.
Get ready because salary structure reductions are likely if oil prices stay low into next year.