...Pressured by the prolonged swoon in oil prices cutting into profitability, the San Ramon, Calif.-based company has looked to cut costs. Chevron has said it would cut about 8,000 jobs—up to 12% of its workforce—and slash billions of dollars from its capital-spending budget to deal with market conditions.
http://www.wsj.com/articles/chevron-returns-to-profit-but-revenue-slides-1477659585
I agree, later is better: http://www.abc.net.au/news/2016-06-09/chevron's-$7b-loan-aims-to-shift-income-offshore,-critics-say/7498002
Is this the same free enterprise that gave the world such wonders as Enron, and banks which caused the GFC, abusing and taking advantage of shareholder and public funds for years?
I found this: http://www.businessinsider.com.au/why-australias-landmark-tax-ruling-against-chevron-is-a-first-battle-in-the-global-war-on-profit-shifting-2015-11
No, that is not a great event. Not even according to most democrats. There is no trustworthy candidate running this election cycle, if you vote Democrat or Republican. The Green & Libertarian may be more so.
I know many Democrats who are voting for Hillary , in fact most, because just like most Trump voters, they consider their candidate the lesser of two evils.
Now how in God's name does that Equate to a "great event"??? What type of uninformed voter or US citizen is not even aware of the status of their own candidate that they are voting for?
After this election I will still be waiting for our first great Woman President to be elected. Regardless of who wins. I typically vote democrat.
7ftb: yes, Hillary will be elected!! Great event for sure!!
A report I read has said that Chevron has stashed US$35billion in untaxed revenues in offshore accounts. There is a decent bit of tax available to balance government budgets available there.
@-8vsq , Maybe one day, if your keep studying and learning English you will learn enough to get a decent job at one of those companies that you envy and despise because their workers earn so much more than you.
Chevron's profits have downside once people in countries whose tax has been stolen, due to the companies' aggressive shifting profits from high tax jurisdictions to low tax jurisdictions (or no tax jurisdictions), start to seek it back.
It just needs someone somewhere to strike the match to set the wildfire off.
Expect great EVENTS within a week
Positive Net Income (profits) is what supports the price of a stock. Total revenue does not do anything to bolster a stock's price.
Net income is a lot easier to fudge than revenues. That's why so much emphasis is placed on revenue.
I agree with the profits philosophy. It makes sense. It's all about the bottom line. I believe also that if management has the opportunity to both keep profits and maintain the employee headcount then they will. It has to do with PR also, for stock price maintaining employment levels doesn't hurt.
Wrong! ........ The post by -qbo is right on.
2017 job cuts will be more than 2014-15-16 combined. Watch....
Those job cuts are nothing compared to the butthurt losers about to be cut in 2017. That includes POS @K6I2TFD-bzn. ROTFLMMFAO!!!!!
Another brainiac that can't comprehend plain,y written text. Those are the job cuts that were previously announced and have already been cut.
It is less important if revenues are down if profits are up. Profits is what it's all about. One more profitable quarter and CVX will be the winning ticket.
See Ya! Wouldn't want to be ya! won't be over for at least another year. Will get all the dead wood out eventually. Just when you thought it was safe to go back into the water....hahahah