It has been around longer than a century endlessly giving and giving that black gold from mother earth's womb, and now facing that inevitable decline. We fellow chevroids should pay attention to what is happening there as many other fields will mimic the same fate eventually.
So where are we now? What is the latest on the number of heads that will be rolling, the timing and the phasing of it?
It’s something like “SJV Transformation 2020 Project”. Implying they want to make the BU profitable and a cash generator like it was in the past by 2020. I’m a current SJV employee luckily out of scope. Actively looking for jobs elsewhere - the writing is on the wall. I’m pretty sure California plans to regulate oil and gas production out of existence within the next few years. They’ll feel the need to more than make up for Trump relaxing regulations elsewhere.
I can’t wait to hear what cool project code name they give to this exercise in futility.
Given the entire US Upstream lost money last quarter I expect to see a lot more cost cutting. Any manager with negative cash flow should be a default 3 PMP including Opco head.
Final headcount is 859. O&M will find out final timing of layoffs nov 29/30. For salaried folks the ROM results come dec 11/12. 85% had to post for positions in the new org. Headcount from start of 2017 was 1350 or so....
A friend of mine just transferred out of SJVBU to another Chevron BU. As he understands it, the cuts in SJV will be as much as 50% over the current headcount and will occur in phases over a 3 year timeframe.
We don't know the exact count yet on the heads that will be rolling nor the timing and phasing but we do know that you will one of them. Thanks for asking!