There is a breaking news story on CNBC about Chevron cutting 6000-7000 employees. It is a developing story. Next week will be interesting, in a bad kind of way.
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Don't worry, it's okay Chevron is building a 100 million new office building in Midland texas...
A friend working on Barrow Island, Australia, has said that there will be 2,500 of them laid off before Christmas.
In the media, only 1500 cut which is a project alpha number has been known. Now when considering world wide ROM process, the total Chevron cut would be 6000-7000. Shell mentioned 6500 cuts globally. Now we know our number of global ROM number. Waston mentioned that the number is compared to 2014.
Your gravy train had derailed.
Those with PSG 26 and above will be safe.
Unfortunately, near retirement employees will be at high risk to get laid off....they cost tons more to administer....dont see many young professionals (future of company) getting the axe but some will if poor performers....sad deal....good luck employees....dont worry...more to life than Chevron
"Human Energy" is such a lame tag line. One huge fart is what came to mind every time I saw a banner with those words on it.
Human energy leaving the company from every orifice with a big sound!
If you've kissed enough asses long enough, you got nothing to worry about....
Still, the management (middle and upper levels) will be safe. The ants (refer to another story on this message board) will be let go. Seems like CVX is going to find itself in the 4th place among the majors again....so much for Mr. Watson's ambitions to beat Exxon etc.
It is not ROM 1 and ROM 2. F***. It's Project Alpha ROM 1 which has three rounds. Each targets a unique pay grade range.
It's been coming for a while. I've been anticipating this announcement since August.
Alpha is the 1500 cut and will be completed in the next couple of weeks, going through ROM3 now.
When will ALPHA go through ROM?
"As anemic oil and natural gas prices continue to batter Chevron, the multinational oil giant announced plans to cut an additional 6,000 to 7,000 jobs as it curtails its spending plans for next year."
They can't possibly cut 6000-7000 jobs all at once, can they? That would be suicidal. Wondering how many more ROM's to come. We will soon lose the count!
Clearly asset sales will have an impact....GOM? Also other BUs have yet to go through ROM, this is what folks have been talking about...after Alpha the other shoe drops! BOOM!
Rom1 & 2 were just warm-ups. The next one is the big one the old timers have been warning you about.
Wondering if ETC, only months after ROM1 & ROM2, will be on the chopping block yet again... Will those "untouchable" whose pay grade is 26 and above remain safe?