It is only obvious that the financials of Chevron are deteriorating rapidly day after day with plunging oil prices. Yet no words are spoken by management about any impending layoff plans which is only a matter of time as the 4th quarter financials roll in. It is pretty much writing on the wall and what we have have is an eerie calm that precedes the storm. Lets give credit to the management for simply wanting to preserve the peace and cheers of the holiday season or whatever is left of it so as not to aggravate the anxiety in the minds of the employees as they are in the midst of the fun and family time. But that is of course only a litlle pretend. Dont be tricked into denial about a dark 2016 that awaits us all.
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Darker clouds grow nearer everyday. World oil now in the low to mid-30s, natural gas now below $2.00, Chevron stock plunging again. No more big assets to sell, only more layoffs. The dividend and the pension will both take a hit with the only guess which will be first. Gorgon and Wheatstone will be the nail in Chevron's coffin. Right now, other distractions are taking center stage, but these two major capital projects will be our downfall, as natural gas prices are going lower and won't soon recover. If Gorgon does get completed someday, it won't be the profitable cash cow that management is tying to convince the analysts it will be. Some of the signed contracts Chevron has with Japan to take LNG will fall by the wayside. Calamity awaits Chevron. Try to have a Merry Christmas.
Massive layoffs are imminent.
let's at least enjoy the holiday season in peace and quiet. layoffs will come in February or March 2016