Thread regarding Chevron Corp. layoffs

Todays earnings call transcript

I have listened to these call for years. Chevron always always spins it positive. This call is really bad! The excuse for poor execution of projects is wonderful! An d my favorite...At this point we are not expecting any Big Foot production in 2016 or 2017, which is a reduction from our original plan of 10,000 net barrels per day in 2016 and 22,000 in 2017. As we complete the investigation and update our plan we will advise you accordingly. Truly ladies and gentlemen, barring 100 oil the curtain call for this place can't be stopped. Chevron will look very different in 3 years. What and how I do not know.

http://www.thestreet.com/story/13240276/1/chevron-cvx-earnings-report-q2-2015-conference-call-transcript.html

by Anonymous128196
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Post ID: @OP+CLluHX4
Comment! It's anonymous!

4 replies (most recent on top)

John Watson's absence from the 2nd Quarter Earnings Call on July 31 is at best odd. It was an embarrasment. In times like this, he had to face the music to give answers. SHAME ON HIM!

by Anonymous128999
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Post ID: @1xRe+CLluHX4

Wonder why Watson couldn't be bothered to participate in the worst earnings report in 13 years...

by Anonymous128420
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The total number of layoffs including BUs inside and outside CNAEP will be closer to 4000.

by Anonymous128276
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Post ID: @Itd+CLluHX4

1500 people getting axed is not nearly enough. I would say that 100-200 at least (probably closer to 300-500) have been let go in Houston already in small groups of several people at a time. Look at what Shell is doing - 6500 in one cut. I would say that another 1500 will be gone right before Christmas. It does seem that Chevron is in a worse situation than many of our competitors. I have been in the oil industry for 35 years and this is the worst downturn by far since the 1986 mega bust.

by Dry Hole in Houston
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Post ID: @y8Y+CLluHX4

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