Thread regarding Chevron Corp. layoffs

That light at the end of the tunnel is an oncoming freight train.

Brent at 35. Light at the end of the tunnel?

The trend is up. There was way too much pessimism out there last week. That signaled the turn. Always expect the unexpected. 100 dollar oil by end of the year!

You must be a 25 PSG hired by a relative five or six years ago. So, why worry? You are safe for many more ROMs.

In the 80's it took 10 years at least for hiring to start. Expect layoffs to continue for sometime. First large groups, then re org, then medium groups, then individuals. Plan for the worst as it will never be the same. Company needs to be below 50k headcount and soon.

Chevron can cut production as much as they would like, but their earnings would also decline (common sense). Chevron needs as much cash flow as possible to keep paying salaries, operating and capital expenses, and most of all... the damn DIVIDENDS! Would you suggest this idea of cutting production to other national oil companies? To foreign State-owned oil businesses? No one single company or oil exporting country is in a real position to cut production to drive up oil prices. No one entity is going to take the hit for all others to gain. Greed and politics has no friends.

How big is Chevron’s reserve? Why don’t we cut production to drive up the price?

Are we not also part of the supply?

In this world, there are things of which the public will never know the truth nor the reasons why things are done the way they are. Behind it all there is a reason, but not even that will ever be told to the world. Things are the way they are.

If the Saudis have such a big cash reserve, why don't they stop producing until the price goes back up? In the end, it's not about who has what share of the market, it's about who has the most reserves in the ground.

So true. Why quit choking when the Saudis need the US fracking companies out of business? But the Saudis better realize they may choke them to death, but many of them are likely to resurrect their fracking once the price of oil goes back up again. The innovation in fracking technology has come a long way in this boom. Low oil and gas prices may shut some down, but not permanently. I think oil and gas prices can rebound from these lows, but I wouldn't bet on seeing $100 oil again for a very very long time. Be happy if you even see $75 in the next 10 years.

Saudi Arabia has 500 billion on cash reserves and will not pull back until the majority of companies in the US are sunk. 2016 they will pump at full throttle. Why quit choking when the need then dead. Bankruptcies have not started. It will this quarter.

Market not likely to settle down until some semblance of control/balance/cooperation between the Saudis and Iran/Russia is achieved. That could take some time. Things have changed.

Ok. You are naive. And stupid.

That was a 9% increase, not $9 (sorry).

After a $9 sharp increase in oil prices on Friday, the likely outcome is heavy profit taking on Monday. We'll see how much the price comes down. Watch for a whiplash reaction.

Monday will see another oil blood bsth

1vnb - I suspect the Saudis/OPEC now realize that they've about played out the "keep prices lower, to hurt Iran and Russia" scenario. It was/is hurting the Saudis, as much, and possibly, more than it is Iran/Russia. No,... I'm reading this as the Saudis (finally) realizing that is may be time to "play nice" with it's neighbors, before they get squeezed out of the negotiations and end up getting SQUAT. They ALL want higher oil prices, dude, so the chance that any of them would continue playing this current game is simply not in the cards. "Hurting" one another via oil prices will no longer work, without hurting one's self,... it is time, now, for more effective methods. THERE's where the mystery lies. What? And, when?

OPEC calls for a member emergency meeting yesterday and the price of oil spikes 9%. What does that tell you? Many it seems are speculating that OPEC wants to lower production to raise prices. There are some that think they will tell members to pump more oil to lower oil prices to hurt Iran and Russia. There's something brewing here and it can go either way.

Very complex issue,... lotta in's an' out's,... lotta what-have-you's,.... the only "certainties" appear to be: 1) the Saudis reign as Big Kahuna in M.E. is over; 2) fate of OPEC is uncertain; 3) Iran, and Russia, will assume larger roles in the region, and, 4) Greed will still play a dominate role in driving crude prices, up. The great unknown is,... just HOW and WHEN will it happen? We are witnessing a Game Changer in the making, I think. Russia's economy is in the crapper, ruble falling in value, the natives are restless. Iran may have the rosiest path, forward, as their's is an economy more varied and better equipped to compete and prosper, they have a manufacturing base, technical, etc.,.... the Saudis??? Only 4% of their "workforce" is employed, and most of those jobs are within government or state-run petrochemical. In the case of Saudi Arabia,... the natives are REALLY getting restless! The Saudis are, truly, between a rock and a hard place. Somehow, an accord MUST be reached in regard to oil production. Whether force is required to accomplish that, or not, remains to be seen. The 3 biggest "players" in the M.E. (Saudi Arabia, Iran, and now, Russia) all have it in THEIR best interest to do this. Will a bunch of other crap get in the way? Maybe so,... maybe so. In the words of Jeffery Lebowski,... there're "a lotta in's an' out's in the ol' duder's head".

GOM layoffs have nothing to do with the price of oil. What the price of oil did was give GOM Leadership ship an excuse/rationale/reason/hanging set/ (pick one) to do what should have been done a long long time ago.

You are not naive. You are an idiot.

i will also call you a member of Chevron's Board of Directors

NAIVE

No way oil will go to $50, much less $40 by the end of Feb. Oil is up huge 9% today, but just wait for profit taking on Monday. Watch out for this head fake rally.

Could be the usual headfake rally to be watchful of. There could be another leg down when Iran talks about oil exports. Also as soon as the price goes up, they will start pumping more driving down the price again.

Wow. Two days of oil gains and suddenly everything is rosy again. Is this the typical Chevroid intelligence?

Yes, you are naive

Always thought 20s were too low. Didn't expect it to stay that low that long. Expect the year to end at 70 and back to 100 next year. Happy days will be here again.

Easily about 3000 should come from eoi's. Chevron has a lot of people waiting for opportunity to retire with a package.

Layoff numbers were based on oil around $50. They are happening. The only question is how much higher the number will go because the total number WILL be higher than 7k. The variable is whether or not the additional headcount cuts can come from EOIs.

Ok, you're naive.