Thread regarding Chevron Corp. layoffs

Todays inflation rate is mostly just pandemic rebound, related to a shortage of workers in many areas and supply chain bottlenecks. We will not know for a couple of years if this problem is systemic. That said, a decade of the Fed pumping moneys into the economy, including ja--ing the system with quantitative easing flimflam, could be finally coming home to roust.

Get ready for interest rate increases. The last time inflation was like this mortgage rates reached 13.5%. That could dampen the housing frenzy.

The actual (reality) inflation is 10% or higher. The Federal government is always changing the formula to calculate inflation in order to get the smallest number possible. Look up the current inflation based on how it was calculated in 1950, 1960, 1970, 1980, 1990, 2000, 2010.

Inflation has not been a thing in the US for decades, so employers will not be compensating for it this year. If it continues to rage for more than five years, you might see it in raises. But the Fed is going to Jack up interest rates and bring it under control this year. So, forget about it.

Correct. You are screwed by inflation, but no more screwed than you would be, on average, at one of the handful of competitor companies. So, no reason to leave because no place to go. Suck it up!

Inflation is 7.5%. But don’t worry! MW had HR do a survey to make sure our pay is competitive. In fact, pay determination decisions were delayed in Q4 because of the uncertainty.

^his actual answer during the Employee Town Hall.

Will also be working 1 hour less, but not to "stick it to the company" like @qby or @boz. Not enough time in the day with the additional commuting time. Not going to take away the little sliver of family time left - not worth a divorce or broken home.

But maybe Williams would have put Truman era inflation at 28%…

According to economist John Williams at shadowstats.com the actual inflation rate is 14.8% which is the highest rate since the Truman Administration. Not good.

If they only knew I would work for free!

I think most Chevron employees are big savers so inflation will simply reduce your savings rate, not impact your quality of life or spending. So cheer the f u c k up.

At that rate of galloping inflation, our saleries will be slashed in half by the end of the decade. Depression.

@cex, with this type of inflation - better invest some of that bonus in I-bonds.

Don’t forget you will receive a nice bonus.

Has anyone considered unionizing? Unions are great for negotiating annual raises.

@-qpy. I did the same thing. I work 1 hour less everyday to account for the lower compensation.

I’m extremely happy and loving life here, no other employer I would rather work for!

I'm already scaling back work efforts to align with the value Chevron has placed on me.

The cat is out of the bag that structure is only 3%. CVX benchmarks competitors and does not adjust for inflation. Rank and file employees will have to work harder for a lower relative standard of living. If high inflation persists, our hard work and sacrifice over the years will be eroded, while other industries increase pay with inflation.