Title says it all…
10 replies (most recent on top)
Any of you that have been through a CVX buyout/merger, have you been able to retain your position, or was there a massive reshuffle? I've noticed personnel being shifted to position they've never been involved with, or have no knowledge of. Moves, that quite frankly, make zero sense. Is there opportunity to contest the move, or is everyone stuck with what they get?
CVX is targetng high compensation and duplicate personnel. So if Hess employee has total comp higher than CVX personnel they will be cut. Pure expense reduction to improve cash flow. Plus many jobs in US will migrate to India in next 2 years. So more Hess and CVX jobs will be cut over next 2 years. Because Hess has a very low pension liability, more CVX personnel nearing retirement could be impacted, saving some older Hess people from layoff. Again just expense math.
I'm former PDCe turned Chevron and everything that @k5 said is true. People at Chevron complain about workload while doing the bare minimum and employees from smaller companies run circles around them.
We were placed at the PSG that aligned with our base pay which meant we got placed considerably lower than our experience level. Our pay was structured differently and we lost a lot of our total comp due to the total comp conversion not being 1 to 1. If Hess already pays better then I imagine that will translate to little to no raises for a while.
@ae Chevron here who recently merged in an acquisition. What su-ked the most was they aligned your PSG to your salary and didn’t give a sh-t about your past experience. I have more experience than two levels of management above me and can run circles around them… If you can’t get used to working with somewhat mediocre people who think they are then best in the world…I’d suggest leaving. Also, get used to being bored as fu-k. Even after our re-org we are bloated. The lifelong chevron folks are complaining about workload, but the reality is they would not make it in a truly lean organization where you can’t rule by committee.
@af I came from the PDC merger. They bumped my salary to mirror what I was getting in bonuses. Not quite the same, but it was a 5 digit salary bump.
HESS people tend to be better respected in industry. CVX can pay to keep them, or the people can choose to move onto their next opportunity.
There's an advantage to not allowing your skills to atrophy.
@a3 Yep, that will be me. Plus we lose the grgeat bonuses.
You may come in making more, but it won’t last. Ask some UNOCAL folks how that worked out for them. They didn’t get a raise until the CVX salary caught up….
Higher salary, bigger target for next layoff
At least legacy-HESS people will have the benefit of making 20-40% more than their legacy-CVX peers.
Has the potential to be pretty attractive. HESS pay structure and CVX lifestyle (i.e. don't really do much at work).
It'll be a bit awkward for those that left CVX and are now returning with much better pay.