Thread regarding Chevron Corp. layoffs

Yes it was very different in the 80's. Lying/deceiving employees was the exception not the rule. But as you said it is now part of the culture....spin it. Don't tell anyone the truth if it is bad. And this is beyond bad! Leadership going to BU's that will only exist in name telling everyone ...everything is GREAT!!! Keep doing what your doing.

Folks, what our senior staff and executives do is nothing but lie and spin the truth. Times are much different than the Chevron of the pre-1980's. Just like the politicians who lie and spin, get away with it and are never brought to task (accountability), the same happens in big business, including Chevron. That's right! This is the Chevron Way of always.

2tdp Now that is FUNNY! If we don't laugh we will cry.

Those of us with only O&G experience have plenty of experience taking it in the ass. I hear that can be quite a lucrative field.

1mqy They lie, you got it and one of the few that do. Shellebarger goes to every BU and says cost are down. Things are trending perfectly. WTF! Does he think we are stupid? Yes we are. The jackass from SJVBU just proved it. Sheep is what Chevron is full of...that and shit. My favorite is closing down a BU and saying. No its not closed we still have it? That wreck of a BU in Pennsylvania is done so is GOM. But why tell the truth when no one wants to hear it? Tell everyone costs are trending down and efficiencies are up as you layoff 80% of the work force. You know this will all be done by email and to get your severance they will mail you a box to send your computer. That's how they role!

well... then he either lied, or you misunderstood, or heard what you wanted to hear. are you sure it was "earnings" and not "revenue"? saw with my own eyes the financials that showed that sjv was definitely negative this past quarter, just like all US business units. the only places making money are international.

with the slow down in activities in CBU and AMBU, they're not making money, but they're also not bleeding as much either... all those pump jacks in SJV don't run by themselves, and since there are so many of them, opex is super high. and the hydrocarbons out of the ground just ain't worth sh!t this year.

Shellebarger announced positive earnings for SJV at the SJV townhall. We've been making cuts and working efficiencies into our projects as much as we can. Greta is a smart woman and a good leader, and it's paid off for us.

1pax, 1500 are the must move expats?

shellebarger actually announced positive earnings at SJV townhall? wow. have one of your finance buddies run a report and tell you the numbers. all these business units are negative. i guess this makes sense though. the messaging from leadership is so fvcked up. throughout the past year, i have been hearing from midcon people who were actually told by their leadership team that all the horizontal wells are profitable even at these low prices. the sugar coated messaging that they are achieving "best in class" performance is crazy. midcon unconventionals has never been positive. the earnings from previous years have been boosted by a strong base business from the conventional assets.

midcon NOJV unconventionals have been pretty positive in earnings in the past few years, but unfortunately, because of the current prices, even this part of the business was NEGATIVE in Q4. so yea, NOBODY is making any money at 30 dollar oil. even exxon mobil. even the small operators who are much more efficient than chevron. wake up, people.

Did ya'll listen to quarterly call yesterday? The OP post lines up with what Watson is saying. "Number two, I think the benefits that we're taking on in some of our organizations and some of our structures, I think a lot of that will be permanent.

And I think we've undervalued what simplicity in organizational structures can provide. So obviously we're taking out some layers. We've got rolling

reorganizations that are being implemented around the world and I think that simplicity and clarity will be a positive for the business."

Again the 40% in position is for a new EXTREMELY pared down Org Chart. So it's not 40% of current employees it's 40% of new org chart. I think 4,400 is actually low. 5,400 sounds about right.

Here are the numbers to the best of my knowledge-

~6000 position in play

~1500 excess staff in global upstream

So currently there are 7500 staff but Company wants to keep only 6000

60% of 6000 positions or 3600 will be open in ESP for 5100 (3600+1500) folks to compete for

40% of 6000 or 2400 positions will be closed (these staff lucky enough to be in business-critical roles, high performers, etc are safe for now)

So, depending on how you do the math ~20-30% staff will loose their jobs, including folks who volunteers to walk away.

I'm not sure where the negative earnings for SJV is coming from. I am pretty sure at the town hall in Bakersfield the CNAEP president announced that SJV made money. There was even applause afterward.

What will a PG 25, 25 yr employee do? Can you imagine half of these people even interviewing? They will be applying outside of O&G. Most have no marketable skills. Those that do, are so specialized, that they are still not marketable. I feel for many of these employees. Especially husband and wife employees. I don't think many know what's about to happen.

If you work in CNAEP, you know the OP has lost the plot.

SJVBU 10% of rev? You do know it has the lowest margin per barrel equivalent in Chevron? You think all those pump Jacks just run all by themselves? The sale has been of interest for several years. But nothing ever materialized. I would be shocked if we were not on the block.

a lot of false info here... 40% of the new org is placed (not 40% of the current workforce placed). Also, not 60% fired. 60% of the new org is in the ESP.

Furthermore, SJVBU does not provide 10% of CVX revenue. They were negative earnings this year. The only piece of upstream that was positive are the international business units. CNAEP got crushed in the negative billions.

"They see me trolling, they hatin" - chamillionaire

@oeu, what do you mean nobody understands OE in Chevron? OE stands for "Over Expending". That's what has Chevron is in pickle it's in.

Why 60% of 7500. What is 7500 and what is 60%? 60% I have heard of is -- 60% positions opened up not terminated. Something fishy about the whole math.

There is no proof but the San Joaquin Valley business. Take everything you read here with a grain of salt

What proof does anyone have that the SJVBU will be sold? Come on seriously be realistic.

Yep 60% of 7,500 is 4,500.

Yes. 100% Exxon. But Exxon actually produces tangible results lol. If Chevron sold processes they would be O.K., well maybe O.K. as nobody truly understands O.E. in Chevron so they would not know what they are saling!

I at first thought the 10% of revenue was the poster being funny. But I think they believe this. Amazing what people can and will believe. SJVBU is up for sale as it is not in the strategic asset class for Chevron. I'm North America it is Unconventionals and deep water. SMH at 10%

Sounds a lot like the Exxon model.

SJVBU provides 10% of Chevrons revenue for the entire company. The Kern River, TTA, and WCC fields are some of the most reliable and efficient in our business. In fact Kern River has ceased the natural decline in field production. Highly doubtful he BU will be sold. As for the 4400 layoffs, we've know that since last October, nothing new.

This would match up with the 40% placed 60% fired. It also makes perfect sense on how they could only keep 40%. Wow, I guess this is it! Thanks for posting.

This is very much in line with Watsons call this morning. Your numbers match up.

DWEP is wild card. They want to go to 2 ships but contracts have to be renegotiated. They may be stuck operating more than they want.