If product prices do not improve, Chevron will make good on its statement: people are our most valuable assets, and have more significant layoffs. Worked for Chevron for 20 years and went through at least 7 layoff periods. Good people let go as this asset is expendable relative to rate on return for stockholders and management bonuses. Unfortunately.
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No DUH! It's always been like that, Einstein! When I came to Chevron, my first moment of awareness was "we're all just part of The Herd". Everything that's happened, since said brain-fart has only strengthened my belief in that one immutable truth. We are The Herd. Oh, sure! Some of us may THINK we're special,... certainly, the managers think THEY are special. But,... not really. Because, in a REAL "herd" the alpha animals, the ones that lead the herd, achieve their position in the pecking order according to certain innate skills, characteristics, and strengths. All that gets filtered out, watered down, or completely ignored within any organization like Chevron. In fact, in an organization like Chevron, the skills and abilities that end up being rewarded are most often the exact opposite of those required in Nature, in order to survive. How many managers do you see who would fail, if not for their artificial 'position' which has been conferred upon them by some other dweeb who's most noteworthy attribute is their willingness to suck up and laugh at a higher-up's lame joke? It's all artificial, arbitrary, and comically assured of insuring mediocrity, at best. Welcome to the rewards of Sensitivity Training, Diversity Awareness, et al. And, now,... the only asset that DOES have intrinsic value, will be disposed of, because it was NOT valued. This is corporate leadership failure.
Houston HR talking point: "This (today's RAE ) is just the tip of the iceberg."