Thread regarding Chevron Corp. layoffs

A little background on McKinsey who will be consulting on the layoffs

McKinsey worked with Purdue Pharma to “turbocharge” sales of OcyContin (extended release he---n). As part of that contract, McKinsey proposed that Purdue rebate $14,810 to CVS (another McKinsey client) for every overdose attributable to the pills they sold, thus compensating CVS for every lost customer. McKinsey also advised J&J that supplied the raw ingredients for OxyContin from genetically engineered Tasmanian poppies that are “particularly rich in opi--ds.” In an extreme conflict of interest, the FDA’s Center for Dr-g Evaluation and Research, that regulates prescription opi--ds, was also a McKinsey client.

When McKinsey advised Disney to cut back and reorganize the safety inspections on their amusement park rides it led to guests’ deaths at the “Happiest place on Earth.”
McKinsey helped Big Tobacco figure out how to manipulate nicotine levels to make their products more addictive — long after it was clear that cigarette smoking causes cancer. And then McKinsey helped Juul and other vaping companies deliver nicotine without tobacco and get people hooked (including teenagers) before the FDA could step in to regulate it.

As part of its work for the Saudi government, McKinsey partnered with Cambridge Analytica to analyze social media to identify opponents of the regime. Prince Mohammed Bin Salman then used that map to target dissidents which eventually led to the mu---r and dismemberment of Washington Post opinion columnist Jamal Khashoggi.

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| 3281 views | | 9 replies (last May 29, 2025) | Reply
Post ID: @OP+1jkwyy0fe

9 replies (most recent on top)

@bd McKinsey is still in the building. Wish they would leave. They steal our snacks.

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Post ID: @f4x+1jkwyy0fe

I've been on both sides of the fence.

Those McKinsey MBAs don't know sh-t as relates to E&A. That said, they can afford to pay the best experts in the world to consult as part of their engagements (typical expert consulting fees run into the $2k+ / hour range). If there's a top person in the field (preferably retired or between gigs), chances are McKinsey has brought them on at some point.

More broadly, McKinsey can bring an "outside in" look at what is otherwise an incestuous org driven by cult of personality.

What play concepts have actually worked and created value?
What are our peers doing differently as relate to risk, commercial entry, and appraisal strategy?
What is required to get Chevron to finally give up on the Wilcox (Perdido fold belt aside).
What measures lead to rationalization of assets which would be really nice to have in our portfolio as operated assets today? (E.g., Rosebank, Hibernia).

I am sure that there are those at Chevron which can answer these questions. However, sometimes it takes the big name (McKinsey) and external review (experts) to provide the authority the Board needs to review.

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Post ID: @c6+1jkwyy0fe

McKinsey knows how do better E&A? Wow! Those MBA classes really cover everything.

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Post ID: @bp+1jkwyy0fe

You don't hire McKinsey to conduct the layoffs. You hire them to understand the need, benchmark new org design, and define the degree of trim required. (i.e., strategy).

They've already done their work and exited the building. Any consulting from this point on will be done by lower cost firms (i.e., McKinsey charges $1MM/year+ per head) who can coordinate the actual implementation.

And, on the chance that you do see McKinsey, chances are that they're here to work on the next problem (E.g., E&A failures, capital projects failures, etc.).

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Post ID: @bd+1jkwyy0fe

When the book on decline of western capitalism is written McKinsey will have its own chapter.

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Post ID: @ay+1jkwyy0fe

Relax. Its a change from the BCG led layoffs that focussed on ridding the company of educated experience in favor of green youth. Our won green revolution. McKinsey doesn't have a lot to work with left so should be more even handed and fair

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Post ID: @av+1jkwyy0fe

Make sure workday is updated, that’s how McKinsey will be making the selections.

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Post ID: @aj+1jkwyy0fe

Did Chevron hire Mckinsey before this layoff?

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Post ID: @a9+1jkwyy0fe

Whew, I thought they were going to be a bit more ruthless in handing out pink slips

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Post ID: @a6+1jkwyy0fe

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