Already asking us to do our starting pmps. Numbers are about decided. Supposed to happen in march april
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No formal word on severance program yet. But don't worry, there will be one for those who get laid off. I expect the terms of the SESP will be the same as it has been since 2015.
This is true, they just informed roughly 20 percent of our group that they are now must moves in the next PDC (end of March) so if they don't get a job they are out. No word on severance package. Said SBUs are affected also, so plenty of competition for a few coveted spots!
I do not know about ETC specifically, but I am seeing the general feeling in planning meetings shift from "stop loss until this is over" to "seeking long term profitability at these commodity price levels". The latter will require a lot more cuts and throwing all but proven low risk ventures where facilities are in place off the ship. To me, having gone through this before, this is a sure sign the turnaround is not far off. Field decline curves are more or less a constant without investments in enhanced recovery and adding new reserves requires exploration. These expenses can be put off short term to save moneys, but longer term.... demand continues and, as I said, decline curves are constant.
Everyone who thought they were safe after the carnage of last year are in for a rude surprise. Oil prices in the 45-55 range will only produce modest earnings. Even at 60, it will not be enough for a healthy industry. Chevron and many other oil companies will continue trimming personnel all year. It is a sad situation.
@9okg, I'm sorry to hear of your work group's bad news. I've heard in the past, that if any company (in Texas) is going to layoff personnel, they must file a report of such action with the state unemployment board beforehand. I think the minimum is 30 or 45 days notice in advance. It depends on the number of personnel to be cut. I don't remember the website, but someone reading this post may verify.
My etc group got word yesterday there will be people gone before the PDC. Call it what you want. Sounds like layoffs to me
More BS from the peanut gallery. Give it a rest, you're wearing out your smoke hole.
ETC have had plenty of layoffs over the past 2 years, they suffered in Project Alpha and ESP just like the rest of us, there is more planned that will affect functions such as FE but that's across the board and not a big specific ETC initiative. Opening PMPs are always due at the end of January. There might be other people left standing at the spring PDC, but again this is across the board.
Whistling past the graveyard?
There are no 2017 ETC layoffs in the works.
-5dmh: I do not know where this comment is coming from. ETC went through the same ROM as the rest of the BUs and had similar cut levels of 20-25%. In my department most of the senior managers (above team lead) are gone (some positions eliminated, some just filled by folks rotating in from BU positions). and teams were consolidated. Most managers took a package rather than being killed, but same result. Now we are going into another more modest hair cut q1 this year (~8%). Not sure how this equates with not participating in the downturn.
The blabbering is coming from the trolls on this site who proclaim these fake insider reports of layoffs. I heard the same garbage about ETC layoffs all last year and they never happened. Blah blah blah.
5gli- Huh? Your blabbering.
Sure they are just like there were massive layoffs im ETC last year. Keep dreaming.
In the BU's, opening PMP's are done in January, and we close out in November.
3ewl. I think your timeline is way off. Maybe getting initial PMPs completed in march/April but closing out in September ? I don't think so. Early November is more real.
Troll bate. We have already been told Q4 in town hall the goal ... numbers add up to about about 8%. We were not told who, other than it would be "strategic" (i.e., not broadly across the board). Thick you and your office mate (or not), and not you or your office mate.
I thought we normally opened PMPs in March or April and closed them in September. ETC is very suspicious. I think they are trying to work out what the hell all those people do!
It's for real...
cbd ... why are you posting on this site?
all will be laid off soon!!! chevron won't exist soon! total collapse is close!
Nld, ovk and vsc... who made you three authority to be nasty? GET OFF THIS SITE AND SHUT UP
We're in mid January. It's time to start our initial 2017 ePMP's. That's all it is. Silly post by the OP. Just what is it you're trying start, a rumor? Get lost.
Is this for real