Any news from DWEP? I am just changed to this business unit, I heard they were in the RAE and some got let go but I am wondering about a DWEP ROM or other cuts. Has anyone heard if there will be a ROM in CNAEP or more specifically DWEP. By the press releases I figure all the MCP's that are excuting will be looked at but will the rigs and the other staff be as well. Like a round two or three or even a forth
4 replies (most recent on top)
DWEP and GOM are going to be combined so get ready for some big cuts when that occurs early next year.
Well said, Anon136764. I am wondering if folks in DWEP are being kept in the dark as to what is going to happen to their BU. Reason I wonder is because there have been a number of questions about it on the message board, as if they are being led to believe that because they have five rigs running at $1 million per day per rig that they must plan to keep going full steam ahead. Also, they continue to spend money as we speak on emotional intelligence consultants called Equilibria to the tune of $3500 to $4000 per day per consultant. I can see why a lot of people are confused as to what is going on in that BU.
Folks if you havent figured it out yet, Chevron is cutting 30% OR MORE across the board. The future spot-price probability model driving the original RAEs, BU optimization studies and resulting ROM-ready org charts was based on a low-side P10 of $50 Brent oil. If you havent had your head in the clouds, you may have noticed the spot-price market is trading south of $50 and shows no signs of recovery given current market conditions. These cuts will target the high salary grades where at all possible and yes this means we lose experience that cripples future growth. But if these cuts and more asset divestments arent executed our seriously deieriorating cash position might force us into an unfavorable accounting condition known as bankruptcy. When the market conditions improve and oil trades sustainably higher, we will have to play catch-up by hiring experienced, high-dollar PEs & ESs and ramp-up college hiring. the MCP debacles have deliterious effects that cascade forward for decades. We have been here before and we just dont seem to ever learn. Thank you Mr. Watson. Your visionary leadership and financial acumen has us in a real pickle. Again.
I am a DWEP RAE cut. They are reorganizing the entire BU. Every position is in scope. This was just a drop in the bucket as to what is coming. Look at your new org charts.