All indicators based on what Mike is saying there will be more layoffs enterprise wide. Didn't he say they weren't going to do that anymore after the layoff to end all layoffs in 2020? Can we trust anyone above our direct supervisor, if that?
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Will everyone be in scope?
Hess employees are toast, except for the managers who are busily buttering up their Chevron equivalents. Hess, like Texaco, Unocal, Atlas, and Noble (and Anadarko, it that had happened), has exceptionally weak upstream staff but tangible reserves that Chevron covets. Chevron's in it for the assets, not the people.
Hess employees are also way overpaid compared to CVX incompetents. Like a whole PSG up, especially after bonus. They could be outstanding at what they do (they aren't) and would still get the axe as they wouldn't compete for jobs a full psg up from what they do.
No managers. No support staff. And something close to 0 technical staff of any function.
The Hess deal creates slots and brings calves to the sla-ghter. Their blood greases these wheels. Ain't a single office based Hess employee making it over (North Dakota or Malaysia excluded). What do you flat brains think they know about guyana that matters. How to write checks to Exxon? I guarantee we have employees in BA who can print checks. Don't believe Hess hype that any of them know their a-s from their elbow. Look at our Suriname block where they supposedly knew what works in that basin and still drilled all those dry holes with us.
Will San Ramon folks be offered the EOI option or will they not get paid for not moving
No, it depends on the Hess merger. No point in letting people go who would be needed for Guyana. And no point in keeping people who would be less qualified that Hess folks. Hess is late 2H2025 or even 2026. That is why the announcement last week said the layoffs were up to two years away.
The crazy thing is, they HAVE to do the layoffs since they will be accruing the cost in 4Q2024 earnings. We are locked in. Otherwise, they would have to restate earnings a year later or something odd which they won't. So, even if oil prices go to $300, we will have a large layoff.
@hzv+1vT8RCKA confirmed
EOI in February, and closed door selections by end of first quarter
Can Antoine confirm that new midstream and downstream organizations are to be in place by June 1? That is what I heard. Regardless, the Axeman cometh.
Company wide reorganization in 2025. Will be announced in Q1, will be complete before Q4.
Yes, win in any environment....Agile tried but was slayed by the dragon
If it wasn’t clear before it should be now… we have the worst leadership in the history of the company and everything they say is BS. They are 100% in service of big banks and headgefunds (our “investors”).
Dude, I don't even trust my direct supervisor!
If he has any fckn shame and self respect, he'd fckn quit without a bloody golden parachute. Id--t took us into DEI on steroids since the pandemic, and then into the notorious Triple Crown partnership (like the pathetic fails with SLB alone wasn't enough), to make us all "more efficient" (right, that worked out nicely - they still have non stop meetings to celebrate that cr-p where they stroke each other with stupid gifs and emojis, it is almost sickening!!) and the whole agile BS. I mean where does it fckn end? How about some bloody accountability from the top??
Yes, definitely all in scope. No one is safe. Mark my words.
You mean the one that will set us up to “win in any environment”?