It is obvious from reading the posts that every here know this place is truly a train wreck. Do you think leadership is blind to it, in denial, does not have the mojo to fix it? I think someone knows something need to change but letting a management consulting firm have total control means that there is no trust in Chevron's leadership?
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There is a serious disconnect in the management structure. Besides being insanely vertical, there is an obvious disconnect I've observed in every CVX entity I have worked for. Your supervisor may generally understand what you do, their manager has a cursory understanding, the department manager thinks you are useless, and reports that to the ones making the decisions. Obvious answer to those making decisions is..... wait for it.... Manila (for about 18 months until they realize their stupidity.)
Was a contractor at BP for a number of years before joining cvx as employee. Got an engineering degree and mba at top 25 schools. I can say this with certainty, cvx leadership in the middle of the org is no where near bp's. On average the tech staff at cvs is also below avg. but there are some really great etc people and teams here. I'll probably be one of the let goes and I won't be sad. There are some really great o&g companies out there that their leadership and management puts cvx to shame. Many of cvx asset bu's are selfless and only got where they are because they exhibit the "Chevron way". Forget about results.
Take a look at the financials, Right at the height of the boom Chevron's leadership went on an unbelievable spending spree unlike it's peers. To put this in perspective, Chevron Market cap is around 190 Billion. They spent around 100 billion since 2010. And over the last decade PRODUCTION OUTPUT HAS NOT GROWN. ROE will be negative and Chevron's cash flow is negative. 10 plus billion in the next year. Chevron's F&D cost is an astronomical 32 bucks a barrel today! Can you have a more f***ed up major capital projects outcome? The Bigfoot platform alone costs over $5BB and now won't be ready for who knows how long. COST THROUGH THE ROOF....WAIT WAIT WAIT Gorgan originally budgeted at a $37BB, now looks to cost an astonishing $60BB plus. Royal Dutch Shell (Partner) is adamant that production will not start until 2016 best cas, although Chevron still is aiming for 2015 production. WAIT WAIT WAIT Angola originally budgeted at $4-5BB, will cost 14BB. Design flaws and delays have been hallmarks here just like everything else. The plant opened in 2013, but shipments have been only 25% capacity because the plant will needs Retrofitted as it is broke. WAIT WAIT WAIT Chevron opens a Shale Gas BU and says 40% of Barrel Equivalent will be from unconventionals by 2018. Chevron is dead last on all benchmarking in the Marcellus. The average big independent drills 350 wells a year Chevron drills 50 with 10 X the overhead. The BU spent 6 billion in acreage and are losing lease holds at an astonishing rate because they can not drill a well! Nobody sees it yet but Chevron is on its knees. The shareholders will demand a change in leadership. So the market will blow this place up! Please take your stock out of your 401K and reinvest in a fund.
Anonymous114994 you are spot on! Of course Chevron does not share anything with it's own workforce. If you want to get a laugh listen to the quarterly earnings calls. THEY ARE HILARIOUS. It always ends in we don't know that information the person that does will be on the next call. The street sees the balance sheet eroding and I to believe you will see a change in leadership from outside investing pressures. Chevron will truly struggle to pay even a meager dividend, They have always paid one. I think for 100 odd years. They will have to leverage with bonds to get the cashooks over the next few to several years. The bank account is drained and running into the red mighty quickly.
Well they are clueless but the days of 100 buck oil are gone and the health of the organization is dead! Take a look at there financials, Right at the height of the boom Chevron's leadership went on an unbelievable spending spree unlike it's peers. To put this in perspective, Chevron Market cap is around 190 Billion. They spent around 100 billion since 2010. And over the last decade PRODUCTION OUTPUT HAS NOT GROWN. ROE will be negative and Chevron's cash flow is negative. 10 plus billion in the next year. Chevron's F&D cost is an astronomical 32 bucks a barrel today! Can you have a more f***ed up major capital projects outcome? The Bigfoot platform alone costs over $5BB and now won't be ready for who knows how long. COST THROUGH THE ROOF....WAIT WAIT WAIT Gorgan originally budgeted at a $37BB, now looks to cost an astonishing $60BB plus. Royal Dutch Shell (Partner) is adamant that production will not start until 2016 best cas, although Chevron still is aiming for 2015 production. WAIT WAIT WAIT Angola originally budgeted at $4-5BB, will cost 14BB. Design flaws and delays have been hallmarks here just like everything else. The plant opened in 2013, but shipments have been only 25% capacity because the plant will needs Retrofitted as it is broke. WAIT WAIT WAIT Chevron opens a Shale Gas BU and says 40% of Barrel Equivalent will be from unconventionals by 2018. Chevron is dead last on all benchmarking in the Marcellus. The average big independent drills 350 wells a year Chevron drills 50 with 10 X the overhead. Nobody sees it yet but Chevron is on its knees. The shareholders will demand a change in leadership. So the market will blow this place up! Please take your stock out of your 401K and reinvest in a fund.
No. Management not only doesn't KNOW the organization is broken, they don't care! For an in-depth study of the typical Chevron manager, read Scott Adam's book, The Way Of The Weasel.
Oh yea You become that bad person when you report a manager for having sex with a direct report, improper relations (kick backs) from suppliers, acts of physical intimidation. I have seen over and over and over. So what happens to a culture. These behaviors are rewarded so no one will ever do the right thing, and why would they? As the poster below says, if you do you get fired. The leadership can not see it as they are not leaders. NOW THANK GOD I GOT A JOB OFFER AWAY FROM CHEVRON. I was there for 5 years. Did nothing because my hands were tied. Have you ever seen such clueless leadership?
As to the Chevron "work ethic",... I actually had a boss (ex Chevron, who found a hiding place in CPChem, where this gruesome tale took place) who would call a meeting, no agenda, no thoughts, no suggestions,... the outcome of which, was tp set a date/time for ANOTHER meeting! (This happened, routinely. I finally just refused to attend.) Same clown held a meeting on Safety (lot's of chest-beating at Chevron over Safety, but the culture remains, clueless), then got caught talking on her cell phone as she was driving in the on-site garage (woops!). Nothing, of course, was done about it, until about six months later, I caught her parking in a Visitor spot (totally wasn't trying, was just walking through the garage, at lunch), because she was too damn lazy to WALK, and I turned her in to the security guard. Then, I went "above and beyond" and spoke to HR about her. (You can see where this is going,...), by which time, she had accrued yet ANOTHER violation, I argued that they should be cumulative (HR was resistant, because not all of them had occurred in the same year!!??), as it demonstrated a complete lack of responsibility and cut to the heart of a true Safety Culture (in the wrong way). Several months later, the fat cow called "hostile work environment" on ME, and I got canned! She "sold" herself for the job as "an Access wizard",... but, if she can SPELL Access, I'd be surprised! The manager in Procurement, where this pig came from, ran her off, couldn't stand her,... OUR nutless Mgr. took her in. At first, it was just unbelievable. Then, it became obvious that the rest of us where expected to do our work and HERS TOO. Another Manager, very knowledgeable, had everyone's respect (he's since passed away, due to brain cancer) told me "she's toxic to the workforce,... they tried to get ME to take her and I told them I'd leave, before letting her NEAR my group!" THEN, the trump card,... she had a lumpectomy (breast cancer),... that was IT. No chemo. No radiation. Just a lumpectomy. At that point, she became "golden",... NO ONE was gonna fire her. EVER. THAT'S THE CULTURE AT CHEVRON! This cow is probably still showing up (on average, she gets away with 3-5 days per month simply not showing up, for a variety of excuses), and doing nothing. Don't get me wrong,... I'm GLAD I'm not there, retirement is great! I had a lot of good years, worked with some fine people. But,... saw some remarkably stupid, gutless, wimp decisions made. You can BANK that clowns like those I've just described, will still be in THEIR jobs, when a lot of YOU are pounding the streets, looking for your next gig. I didn't write this just to bitch,... it just galls me that a useless loser is most likely STILL hidden out in CPChem, while GOOD people are losing their jobs, although I doubt any thought has been given to weeding out the chumps and trying to save the best employees. I wish nothing but good luck to all of you.
Leadership creates systems and processes designed to protect themselves. After a couple years in leadership you change. You have to believe in the system that puts food on your family's table. And you have to start believing that you didn't get promoted randomly. You earned it right? Lmfao
No they have no clue. The patients are running the asylum. How many times in the last 5 years have you asked how did that ignorant ass hole get his position. There is no way he or she will last. Then only to see them get promoted. These people are now running the business and can't see it as they are part of it!
Can you imagine if a major mutual fund manager spent a few weeks at Chevron??? And yes on the work ethic. It took me a while to figure out that we hire consultants to actually do the work that is needed. But don't give any direction so the work product sucks. If you would sit in one meeting on the Bigfoot fiasco I believe you would come to the conclusion leadership sees a problem but they don't understand how bad it is.
Shhhhhhhhh! Don't tell the shareholders
management plays a round of golf w/ BCG partners. talk it over a beer. it's done.
ok, at least on a more serious side.
think about how chevron functions... manage wants some stuff done that requires a lot of work, but the culture sells work/life balance. everyone is taking it easy, working those nice 9/80s and taking cool lunch breaks. the management's pawns can't really get stuff done quickly anyway. so we hire those pricy green badges and let them work many more hours for just as shitty work.