Cuts will be complete in 2026. Learn to code.
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If you EOI or just don't get selected, do they pay out your accrued PTO?
Some of us already have skills that will apply to many industries and don't need to sit in a chair like a pathetic dork and "code" all day but do continue........
expect way higher % in the US… biggest cut ever…
thats like getting rid of all 7000 employees in Houston. just for perspective.
Learn to code? Yes!
And move to India.
CTC 40% damn
It is a lot. 20% means 1 out of every 5 people will lose their job.
Coding is the last place I want to be. Other than Agile. Today I met a Digital Hero. I almost vomited. My team sweats their a$$ off in the field and we have Digital Heros
8,000 people isn’t that many. I mean, we are a huge megacorp.
@a6+1jky0j1rs Yes they are addicted. It’s literally a mental illness
MN is outdated. He belongs to and old, very old, team of managers.
Grandfathered. He could retire. He sold millions of shares : he could GO
Are they addicted to money and power that much ?
Ideally, no employees except the board and managers. All the other job functions covered by AI.
Chevron will lay off 15% to 20% of its workers, or roughly 6,000 to 8,000 people, the company told employees on Wednesday. “This is about us continuing to improve and positioning us to accelerate all the cash-generation that you’ve heard us talk about here over the past few years,” said Vice Chairman Mark Nelson in an interview. The layoffs will happen all over the world, and in all of the company’s major divisions, Nelson said. At the same time, the company has been boosting its returns to shareholders, by ramping up dividends and share-buybacks. In the past two years, Chevron has bought back $30 billion worth of its own shares, cutting its share count by about 10%. It has repeatedly raised its dividend too, and the stock now has a dividend yield of 4.4%. Chevron had made clear it wants to become a leaner company. It said on its latest earnings call that it is targeting $2 to $3 billion worth of structural cost improvements by the end of 2026. It has also been pulling back operations in several parts of the world, recently selling assets in Canada, the Republic of Congo, and Alaska.