Thread regarding Chevron Corp. layoffs

@br+1jzxak5z7
I agree there are ways to increase productivity without layoffs. However, the management team does manage the people effectivity and that is why so few valuable ideas are captured and developed. After 15+ years at Chevron, I realize the management teams manage up and only perform the work that their upper managers create and ask for. They do not analyze the data points to make improvements and certainly do not want ideas from the employees to muck up the work they are reporting on in the Power BI reports and PowerPoint slide decks. I am counting the days until i can retire and hopefully the next layoff will sink up with my retirement plans. I like how some people have retired with 6+ months severance and unemployment insurance. Ka Ching!

@a6 in the DM&C Townhall, AW said it appears our benchmark metrics may already be improving!
Somehow seems to lack the insight that today’s metrics are a result of “yesterday’s” efforts (and the old organization). The 2nd and 3rd quarter productivity are likely to be generational minimum for Chevron.

Yeah well I know one that doesn’t do jack nothing. Hasn’t contributed anything all year. Literally. Zero return on investment. Yet somehow got a job in the reorg. HOW

@b8, layoffs will only reduce costs by 1-2%. That’s not nothing, but only if the reduction in workforce doesn’t have more severe ramifications and become counterproductive.

What would be better is using those people to find savings far greater than those realized from layoffs, and finding ways to grow the business and increase revenue.

What a silly metric that proves absolutely nothing on its own. Profitability, industry, growth cycle, etc. SO many factors to normalize for...

Revenue is great but Income and Cash Flow are what matter and those come after Expenses are subtracted. Layoffs reduce expenses and thus increase income/profit/cashflow overall, per employee and per barrel.

@ak SOUNDS LIKE YOU JUST VOLUNTEERED PAL! THANK YOU!!
SO WHEN CAN WE EXPECT YOUR COMMUNICATION???? REAL QUESTION...

Or the CES....

This feedback has been given in every way possible, including town halls.

I’m tired of reading this in an anonymous forum. When is someone going to have the ba--s to send a company wide email or ask a straightforward question at a live town hall. No one wants to jeopardize their personal life but complain all day in an anonymous forum.

That good on the surface, but vast majority of that revenue comes from fields and investments made decades ago which are simply being maintained by the current workforce. Those numbers are generally not the result of current actions.

This is good, and we are doing OK compared to everyone but Exxon. I included profit below. Basically leaders decided that the only thing they know how to do is reduce the cost per employee, those ELT numb-nuts haven't really considered anything beyond that and platitudes about being more direct....

ExxonMobil
Revenue: $349.6B
Employees: 60,900 (Rank ~35)
Revenue per Employee: $5,741,541
Profit per Employee: $553,363
Market Cap: ~$500B (Rank ~10)
Sources: ExxonMobil FY 2024 Earnings Release, 2023 Annual Report

Chevron
Revenue: $193.4B
Employees: 45,298 (Rank ~45)
Revenue per Employee: $4,270,879
Profit per Employee: $390,885
Market Cap: ~$280B (Rank ~25)
Sources: Chevron FY 2024 Earnings Release, 2023 Annual Report

Shell
Revenue: $284.3B
Employees: 98,000 (Rank ~20)
Revenue per Employee: $2,900,000
Profit per Employee: $168,367
Market Cap: ~$215B (Rank ~30)
Sources: Shell Q4 2024 Results, Shell 2023 Sustainability Report

BP
Revenue: $189.2B
Employees: 100,500 (Rank ~18)
Revenue per Employee: $1,882,089
Profit per Employee: $12,238
Market Cap: ~$100B (Rank ~60)
Sources: BP FY 2024 Results, BP 2023 Annual Report

TotalEnergies
Revenue: $195.6B
Employees: 102,887 (Rank ~17)
Revenue per Employee: $1,900,478
Profit per Employee: $153,229
Market Cap: ~$160B (Rank ~40)
Sources: TotalEnergies FY 2024 Results, 2023 URD

Occidental Petroleum (Oxy)
Revenue: $26.9B
Employees: 13,323 (Rank ~90)
Revenue per Employee: $2,019,294
Profit per Employee: $177,172
Market Cap: ~$57B (Rank ~65)
Sources: Macrotrends (2024 Est.), Occidental 2023 10-K

Revenue: Total annual sales. Shows company size and business volume.

Employees: Number of full-time employees at year-end. Indicates operational scale.
(Rank): Company’s position by workforce size among oil & gas firms. Lower rank = larger workforce.

Revenue per Employee: Revenue divided by number of employees. A proxy for productivity.

Profit per Employee: Net income divided by number of employees. Reflects efficiency in generating profit.

Market Cap: Total value of all outstanding shares. Measures perceived value and market size.
(Rank): Approximate global position by market cap. Lower rank = higher valuation.

Now this is the content I’m here for.

Everything CVX is going through is the very definition of a “manufactured crisis”. All to prop up current management’s ego and level of compensation.

And the sheer amount of weakness and deference in those PSG 26 and above is staggering.

The price will certainly be paid for in the long run, I just hope it doesn’t end up costing more lives than it already has.

Interesting data. We have almost the same revenue/employee ratio as Exxon.