Thread regarding Chevron Corp. layoffs

@bt - Clueless - Chevron paid us boomers our travel to go all over the world and do wonderful training in exotic places. The miles we accumulated paid for ur family's. It was a good life and fun career. Try not to be so sour and angry and things will improve for you

@bt, = totally disconnected from the modern world and no grasp of the time value of money. World travel has never been as accessible as it is today and being experienced by young people like never before. You think boomers jumped on planes to Europe, AUS, etc. in the 60's and 70's like young adults and kids of all ages do today ?
I have a bridge and a clue to sell you.

Woop de friggin do since Covid you imbeciles. You're losing jobs left and right and you are trying to do numbers now? How about you apply all that energy to actually doing your job and maybe you wouldn't be in the predicament you're in.
Oh, yeah, we know, it's "so and so's" fault. Never yours. Take some responsibility. If you're so horribly held back then go find a job where you're not or STFU.

Boomers rich, Next generation can't afford a house. Boomers travelled the world and had a range of jobs. Nest generation are consigned to the factory in Texas. Boomers lived in a period of peace. Nest generation will live in a time of turmoil. Boomers like each other. Next generation hate each other and the boomers. Boomers actually seemed to enjoy their work. Next gen whines. Boomers get paid a lot to leave. Next Gen get paid a pittance to stay. Get off your pity horse and learn to live fools.

Yea and boomers created that "bot farm' lmao. That's adorable! I bet they created the mickey mouse phones and i-watches that you kids play on all day too, lol.

Boomers actually created most of the IT infrastructure that we use today or at least the beginnings of it. The later generations just built on that foundation. Wouldn't be surprised if they were using/developing the earliest versions of AI before it even had a name. Not a boomer but a realist. Get over yourselves children. I can't believe I work around such an ambient ignorance of reality.

Price is flat since 2022. Lots of up and down, but same price as 2022. We should be trading above 200 a share.

I may need the re---r the AI guy is smoking.

Chevron's heavy hand is all over this site. @ae is a good example. Corporate prost---te.

They want us to believe the root causes of our problem are too many people. Not the fact that we cant find oil and cant build plants. Someone else already posted we lost more money on overruns on 4 recent major projects than we will ever save by laying off people.

“Boomers created AI” 😂😂😂😂😂

@ah+1: “Junior” is crazy, I’m 35 and probably have more real (not fake meetings and PPTs) experience than you lmao. Boomers are just clowns with zero knowledge of how the world works nowadays, thinking they’re the arbiters of truth simply due to being the luckiest generation of all time. Pi-s off

Holy sh-t. They did it - they actually hired a bot farm not just to downvote/upvote what they wanted, but to make AI generated arguments supporting their vision.

If only our leaders had put as much effort into replenishing reserves, finishing MCPs on time, and not getting massively out maneuvered by XOM on M&As. Fu--ing clowns.

@ad+1jq - lol shut up boomer ai

Chevron’s performance in 2024 showed us that while we are still moving forward, it not at the pace we should be.

We generated a total shareholder return (TSR) of 5.4% for 2024, but more telling is the compounded annual TSR of 15.7% over the last three years. In that period, share price appreciation was a significant factor, accounting for 11.5% of the return. This came from acquisitions, buybacks, and private equity, while dividends contributed 4.0%.

But here’s the hard truth: even with these numbers, our performance lags behind our peer group, which averaged a TSR of 25.1%. Why? The simple answer is that our cost structure is too high.

Too many overstaffed departments, inflated budgets, and teams that aren't driving meaningful top-line growth. In fact, some are actively holding us back. We need to reduce structural costs. We need to hold ourselves accountable. This is how we unlock more free cash flow, which is ultimately how we can deliver more value to shareholders.

Here’s where it gets uncomfortable: For many of our nonperforming teams, this shift means less comfort and more responsibility. Some may not like it, and that’s okay. There will be discomfort, relocation, and job loses. But that’s the price of doing business at the level we want to achieve. And frankly, if some people can’t adjust to that reality, like the many IT whiners here, they should EOI and try their luck elsewhere.

This is about making Chevron better, making it more agile, more efficient, and more focused on what matters. I’m glad that MN has the backbone to drive these changes. But there’s a deeper problem here. We have managers, several in the L3 and many in XLT levels, who aren’t pulling their weight. It’s going to take another round or two to root out the inefficiency there and really sharpen our focus on performance.

At the end of the day, this is all for the benefit of Chevron, its employees, and, most importantly, our shareholders. We’ve got work to do. And the time to do it is now.