Thread regarding Chevron Corp. layoffs

It will take Chevron a decade to recover from this Watson fiasco

Chevron has developed a Mba mindset that engineers are commodities.

The brain pool that has been released is unbelievable. 35 year employees with masters from MIT, West Point graduates, engineers with multiple patents. Chevrons new mentality is to pool owners engineers from the EPCs All the company needs is supply chain guys with no technical background and project guys with mbas from rice.

These guys have no skin in the game and will continue to milk chevron. There are engineers from the epcs that have retired after a 5 year stint on gorgon. Easy money.

The project guys that were worth a damn mostly facility engineers with hands on plant experience have been shown the door. It will take Chevron a decade to recover from this Watson fiasco

by Anonymous
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Post ID: @OP+NAWGcak
Comment! It's anonymous!

47 replies (most recent on top)

Many of the majors have comparable dividends. How does that effect your position, salary, and future at the company versus a company with no dividend, which will deflate the price per share and the overall trading value of a share of the stock in the markets, and in turn, the value of the company. Just a question for you guys.

by Anonymous
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Post ID: @psv+NAWGcak

The dividend is a cancer. Without it we would be in the black for several quarters now. There is no law or rigorous business model that requires a dividend. Repeated amputation has one end. I guarantee that SWAT will be let go in the name of cutting the dividend when there is nothing left from CVX to amputate.

by Anonymous
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Post ID: @yfv+NAWGcak

I am not convinced Chevron can compete in a shale gas play environment where it is all about ultra-low operation costs. Our strength has always been big capital - big payoff....it may be a mistake to try to morph an elephant into a donkey.

by Anonymous
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Post ID: @mnt+NAWGcak

There is an endless supply of young talent eager to make a name for themselves. It is this way, has always been this way, and will always be this way. If an employee has both a masters degree from MIT, and 35 years of service to Chevron, I will propose that individual should be well prepared financially for life after Chevron. The overall majority of these 25+ year employees who have contributed greatly are nearing the end of their beneficial service to the company, and most are content with resting on their previous accomplishments, instead of forging new ones. Look for Chevron to closely follow the lead of the other domestic supermajor, in an effort to also replicate their profitability. Chevron will have more a more PC culture, but in order for the business to survive, they must rigorously adhere to the number 1 goal of creating profit. It will be harsh at times, but it is what it is.

by Mule
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Post ID: @chl+NAWGcak

I will disagree and say that history wil be on Management's side. Making the company leaner with a shifting focus to natural gas and short cycle resource-play projects will ensure company's survival and competitiveness.

by Anonymous
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Post ID: @qsr+NAWGcak

Don't forget he's also selling off everything that isn't nailed down to pay the dividend. Liquidation of the company continues with the Trinidad and Tobago sale.

by Anonymous
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Post ID: @aad+NAWGcak

Correct, but Chevron is kicking backside at all the touchy-feely BS metrics that add no value to the business. Go team.

by Anonymous
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Post ID: @knb+NAWGcak

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