Admirable of CVX to announce their massive layoffs, unlike XOM that uses the PIP system to unethically purge a lot of people.
https://www.barrons.com/articles/chevron-layoffs-oil-dividends-05fb9b8a
21 replies (most recent on top)
CVX here. We are laying off 20% because we don’t cull our herd every year like XOM. We are also offshoring to India so that we can take all your top talent for a few rupees more. Severance will likely be 2 weeks per year of service and capped at 52. Please let us buy Hess. We can’t find oil anywhere else.
2025 will be loads of fun..🍿
If CVX layoff its 20%, they will be reduced to only 36K which is a little over half of XOM's population. Meaning XOM, like the usual competitor as it is, will follow suit and reduce its population as well. That's good, to allow for the merger to happen like many people are saying here.
They’re not laying off. They’re offshoring to India. Following XOMs playbook. What happens to the execs when everyone in their chain of command is in India?
Getting ready for the merger. Trump admin won’t block outright, but maybe require selling off a few things.
I am a single dad with 8 kids and three jobs, I only have about 5 min per day to sh!tpost on this site. I just want to point out that you don't have to worry about mass layoffs when your company has a smaller, annual layoff...we are ExxonMobil!
Brace 08801
@az+1jkxkmhy8 Excuse me, I am a single mom with 2 kids, it's really tough juggling lots of things all at once, and it would be nice to have safer landing when things go south.
How much severance does Chevron get per year of service?
Because Exxon is cheap
Severance benefits are woke. Take your firing like a man, pick yourself up by your bootstraps, and show us you can succeed without a handout.
Chevron: "You have a severance benefit"
Exxon: "You are severed! Bye!"
Yeah, here at XOM, you are garbage when you're at the bottom of the rank.
@a9+1jkxkmhy8 wow thanks for that link, I am so jealous of how CVX treat their employees.
@ag+1jkxkmhy8 Thank you DW, keep up the great work
Another example of why Exxon is running their business better and more cost effective. #winning
For US based Chevron employees, the severance plan links is on the web.
https://hr2.chevron.com/lifevents/leaving-chevron/sesp/severanceplan
Any news on sort of severance being offered by chevron?
XOM went from 75k globally in 2019 to 62k in 2023.
With this breaking news, XOM will double-down on the PIP target this year, that's for sure. Alright folks, get ready!
Chevron will lay off 15% to 20% of its workers, or roughly 6,000 to 8,000 people, the company told employees on Wednesday. A top company executive told Barron’s that the layoffs are part of a larger cost-cutting initiative, and are not a sign of broader problems at the company.