Seems like during the unocal deal we had to re-apply for our jobs. Will this be handled like a ROM?
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IF (big if) it is handled like a ROM, the good news will be 2 weeks per year of service as severance.
Umm, the Unocal merger was small potatoes relative to Anadarko. Anadarko has twice the production Unocal had and cost $33B vs $17.9B for Unocal. In that deal most Unocal employees were offered a job but many wanted the package and a job at another company since times were good so it made more financial sense to take the package and choose a better employer. I expect to see reductions on both sides this time as Chevron is still too fat due to pending losses of three SBUs and a CEO who likes to be lean.
As I recall, the Unocal purchase was just that. Chevron bought the Unocal assets and kept just the Unocal people that they wanted. It did not impact the Chevron employees.
The Anadarko purchase will be alot like the Unocal purchase, only the assets and people that Chevron wants to keep on. I assume that the Anadarko employees will have to apply for their jobs.
Anadarko is small potatoes relative Texaco or even Unocal. There will be a few layoffs on overlapping assets and digestive farts in Chevron, and some significant blood in most of the support groups and middle management in Anadarko, but less damage to those who actually do the real work. It will be all over by the end of the year.
I don’t remember having to reapply for my job during that acquisition. Maybe it was just certain groups?