Early and mid career employees keep getting told by more seasoned folks that downturns are cyclical and common and Chevron has been here before and will be here again. The general mantra seems to be that if you can stick it out and survive the ROMs that you will be just fine. Why? What makes this time different from others? Why should anybody stay with this company?
13 replies (most recent on top)
Being in O & Gas is very entrepenueral. Risky, but big rewards for those who survive. Not for the weak at heart.
OP, if you want safety and security work for the government. If you're young, and not putting kids through school, and make the cut then take the risk of viewing this as an opportunity to grow your skills and deliver value to Chevron. Take advantage of the chaos and loss of many naysayers to promote the improvements and efficiencies that were poo-poo'd a year or two ago.
Nobody learns anything when times are good, they're too busy running victory laps. There are lessons and skills to learn now, have your list ready of things you want to take on and schedule a meeting the minute after your new TL (or GM) is named.
Yes, @FRSFLnr-2dcr, It's Chevron's fault that oil is below $30 a bbl and after all, they promised you a guaranteed easy job with cushy benefits for life, didn't they? How 'bout you quit now and go work for one of those fantastic companies that you think will hire you? They're laying off too? Well so is CVX, numnuts.
No fundamental difference, perceptive differences mainly due to the Internet (for example this site) and Face Book to a lesser degree. Same scenario, different planet (figuratively).
Yes it is cyclic.....2 years ago....oil will never get below 60 a barrel, ever....well it did. Today.....oil will never get above 60 a barrel, ever...well it will. I will say this, Chevron is a poorly run buisness. We all know that...many other majors are dam close as being dysfunctional as Chevron. May be time to reflect. Also if I am still in this industry I will take a paycut to work for one of the few companies that are well run.
33 years at CVX. Started as one of the "last ones in" during mid 80s crash. No hiring almost in my office for a good 10 years. I was 32 or 33 and the youngest guy in my division! However, I did survive that horrific crash in 86-87 with $8 oil, survived the East Asian economic crisis with $10 oil in 98-99. Actually was able to buy a really cheap house and really cheap energy stock - taking advantage of those crises. The price of oil ALWAYS does go up. Use the cyclicity to your advantage. Another key thing mentioned earlier but I will emphasize - always work on upgrading your skill set. The guys I started with in the 80s that didn't learn the modern E&P software and geo/engineering concepts were usually the first to go. They derided "Nintendo geology and engineering" but the computer jockies were just able to get more work done in a shorter period of time and survived - as long as they were still grounded in the fundamentals. If your group has been emasculated by loss of funding, don't sit around your coffee bar b*tching and moaning, teach yourself a new skill or software utility. It might help you get a promotion if you stay or get a new job if severed.
Overall, I'd recommend to the young to just put your head down and , if you survive, enjoy the long ride! I may get severed in April but I've really enjoyed my time at CVX, seen the world, and met a lot of great people I never would have if I had stayed in the Midwest working at a steel mill like the rest of the males in my family.
O&G. IT IS CYCLIC. Always has been, always will be (until oil is dried up, or a better source of renewable energy is invented/discovered.)
I was in O&G for 10 years. Saved a lot. I learned from those who were around in O&G in the 80s. Those who lived in "oil towns" (ND, West Texas, etc) told me they had to walk away from their homes then. I was told that when oil was good.
Good luck to everyone. Hope you either find another job or you still have one for the for seeable future.
Agree....memorized processes for not cut it! Skills, education, experience are truly lacking in Chevron.
UNOCAL CEO once told us in a townhall. I cannot gurantee you employment. It is your job to maintain your skill set and employabilty. Most never worried about their job as they could always get one. In Chevron I was amazed at the lack of skills . Most could tell you line for line of a process but that is not what other employers are looking for
I wish I left at 25....this industry has changed so much in the past decade. Chevron is horrible.
If you are early in your career, just 2 or 3 years into your career, LEAVE and don't even look back. Get into chemicals, biotech, high tech.. Doesn't matter. You will be better off.
This will be a long cycle , another 18 months IMO. Price will go up and and the survivors will be in good shape. The cuts will be brutal and not always "Fair". Good luck to all as I go out this time hopefully with a "Golden Handshake".
Who thinks they are fine after the ROM? I know more cuts are coming. What makes this different is horrible leadership, 130 billion in cash outlay for failed projects, A hiring boom beyond anything I have seen and pricing pressure that will last for years with shale wells. The question is where do you go? Not oil and gas! The industry is not hiring at all. Totally done! And the economy is coming to a screeching halt. I am sure we would all leave given a good opportunity.