Thread regarding Chevron Corp. layoffs

103115...Comments inaccurate? Most are accurate. This is NOT a cycle, it is about bad management and decisions coupled with low prices. We all know that it takes someone to oversee someone else, someone to lead the team of more people than you have for Thanksgiving dinner, someone to report to and someone for them to call to tell someone else to get the work done! Unfortunately Chevron is overstaffed as far as their office personnel goes. People don't know how to do an honest days work, the older employees think they earned the right to slack and the younger don't know what the true definition of work is. In the sale of GOM assets (already signed one deal) they are going to retire some, layoff some, sell some and keep only a few hand picked and no doubt that will be based on favorites or the gold ole buddy system. I pity Chevron leadership for the poor performance on their part, they will someday be held accountable we just won't see it. I feel for everyone who will be caught in the middle of a very unfortunate situation.

By the end of 2016 Chevron GOM will have exactly 3 (three) producing facilities. If you want to speculate on office buildings, EEs etc have at it, but the math is fairly simple, how many of all of the above do you need to support exactly 3 (three) producing facilities?

Most of the info posted here is quite accurate as will become evident soon. Denial aint just a river in Egypt.

The majority of comments on this post are inaccurate and are either coming from those who were let go due to poor performance or from those that don't work or who have never worked for Chevron. Everyone knows that GOM will be going through a re-organization and we will find out soon enough what jobs will be available. Yes, some shelf property has been sold and probably others will be put on the market, but that is to be expected when they are not producing. It is part of the cycle, and if you work in Oil and Gas this happens every 6-8 years. Chevron will lose some good workers, because they won't wait for the package and will look elsewhere for other opportunities.

Shelf assets gone by end of 2016. DW AD moving to Houston also by year end 2017. Shelf DC, OM gone by mid 2016. Deep DW AD cuts. Future of DW GOM uncertain. Cov Northpark property part of real estate deal. Sad refrain for a BU that has carried the water for CNAEP many years.

Anonymous189329, don't worry, he will get laid by Chevron. Laid or Laid-off, either way he will be screwed by Chevron.

216 Where sexually harassed as well, or are you saving that card prior to being fired? Love how you stereotyped the Southern Unied States as inbred...You really need to get laid, I mean laid-off.

GOM needs to go anyway. It's the most bigoted and petty of CVX business units. If you aren't from the inbred area of NO/North Shore, you get persecuted till you quit or victimized by the pmp process. Middle management team leads are a disgrace. The assets have been run in to the ground through poor management and maintenance.

which Covington property? the office building or the 9 acres to the north?

Some out their in the industry say it is a done deal some purchased by Arena others by Cox….

Everyone knows chevron needs cash. I don't know who the buyer is but I suspect it will be PE. It'll be a major ego hit to Watson to sell to Exxon and I'm not sure who else has the cash or balance sheet flexibility right now. He posturing during the earnings call makes me think the deal hasn't closed.

My network tells me that shallow GOM sites are sold and close to sold as of today. Even Covington's real estate is close to being sold. These are fire sales prices. It is that bad.

The inside information is that wells were required to be drilled as a condition of the lease within the next 180 days...

From what i understand Tier 2 & 3 properties are sold and the announcement is coming soon

My guess is they are struggling to find a buyer.

BIG news coming 2nd wk in Nov. If you work in GOMBU, it will not be good news. Brace yourself.

Not likely