Well, it is an official rumor (whatever that means from my boss in ETC), Upstream will be going through a full scale reorg which will be announced on Nov 22. It looks like Chevron is moving to an asset class structure instead of a geographic structure. This is going to affect about 30% of the 28+ positions in reduction. Overall workforce will see a 10% to 15% reduction. Hold onto your hats cowboys and cowgirls. Its about to get crazy in the job postings. PRC - gone, CTV - gone, ETC, CTV, PRC merged, Tech Services consolidated, etc.
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I just was informed today about a reorg at Chevron in Covington announced this morning. I have worked with Chevron retirees for over 27yrs and am intimately familiar with all aspects of the Lump Sum, Savings Plan. I have witnessed many a "package" opportunity, but it has been awhile. I would welcome the opportunity to speak with anyone who may be affected. Visit my LinkedIn page. Bryan Musso, Musso Retirement Advisors.
No, totally wrong. Wrong, date, wrong numbers, wrong information. Try again, lol.
@11IABqZY wow! the OP had it all right. This is exactly what they announced yesterday (Nov 3)
It must be nice working in an office where your coworkers all consider each other "like family". Sure wish it was like that in the cold miserable BU that I have been in for too many years........
What about CPF within TPS are we safe for this time around?
Out of all the BUs I’ve been with, GOM is the one with most family members. And COV is such a small office with all the centralized power! Houston team is much more volatile than COV in the reorg as all the GOM managers with power are in Covington with their family vines.
As an employee in the COV group it would be good to see that group replaced by one that is not peppered with family members. The family teams run the show in both Houston and Covington. Because I do want to extend my employment with the company, I hope that I am treated fairly in the reorg if there is one since I don’t have family members in the group.
DIA - Digital Innovation and Acceleration
TPS= Technology, Projects and Services
@zknx stop trolling. one of monday's announcements will be that our DIA GM will be the one leading the TPS reorg, and it will be quite substantial.
LMAO all that you want. The jokes on you, lol
LMAO @ so many people downvoting -wibm with the Dec 2 announcement. I have heard that from multiple people internally now. Level 1 source. Downvote away. It's not going to save you from a reorg.
Wow. Seriously people? The level of denial among the voters (up/down) and posters on this site is unbelievable. Incredible to witness. My faith in the perceptions and intelligence of humanity (the average person on the street) is now far less than I dared to imagine. No great awakening to worry about here.
What is COV? Covington office?
Are all the upstream BUs part of the reorg or some of them may dodge the ball?
The actual internal announcements are going out Monday, December 2. it'll start with an email announcement from the CEO, followed by an email from TP&S EVP if you're in that central org, or an email from your upstream EVP if you're in an upstream BU. Then depending on if your BU or Function is going through its own org, you'll receive a 3rd email from the BU itself.
COV gone. Replaced with a 20 person or less Field Office.
Seems like a lot of fake news has been making the rounds on this site. Don't believe everything that you read, especially from people who post on "layoffs" websites. There's a reason they are on this site. They are on the chopping block. Not a reliable place to get your info. Just a heads up.
Upstream is going to be restructured; the news is out and the corporation has began showing us information by way of Inside, Workplace and direct, decisive videos from MW. Change is coming and its is not a rumor, water cooler talk, fake news or anyone trying to stir the pot. If you can't read the messages being sent by the corporation at this early stage, then ok, just wait, they will speak about it plainly soon enough. Hard to believe that many deny things until its laid at their feet with flashing lights and sirens blaring. Maybe you should try being just a bit more inquisitive, insightful and discerning.
@tpuz, It's obvious that You are the only one who misunderstood anything.
No, the rumor was completely false. This years is no different than any. There have been cost-cutting measures taking place at CVX for the last 40 years, or at least that is what I can personally witness to. Nice try, though.
The rumor was correct, just misunderstood by some of you. A reorganization is coming to Upstream. It’s about time. I’m sure other Business Units will be impacted too. The fat lady hasn’t yet begun to sing. Wait and see.
OP didn’t nail it as there has been no announcement only a news report that appears to be based entirely on this gossip web site.
Well, OP nailed this one. Respect
A number of News outlets have posted articles like the following today 11/22 ....
"(Reuters) - Chevron Corp Chief Executive XXXX XXXX is preparing sweeping changes at the No. 2 U.S. oil and gas company that would cut costs and streamline operations in a drive to boost profitability, according to people familiar with the matter.
XXXX, who took over the company 21 months ago, intends to cut the company's massive global upstream group into individual units, focusing on shale as well as liquefied natural gas and deepwater businesses, the sources said.
Chevron has been among the strongest performers among the big oil majors but the company is trying to stay ahead of weakness in shale that has hurt other large oil exploration companies."
Something is brewing that’s for sure, but I will be shocked if anything hits the fan this week. VP and GM level folks have recently indicated in open forums they are still considering options and the rumor mill is nowhere near overdrive yet. In my 25 years at Chevron, all big reorganizations leak long before they happen. The next crash will happen, considering commodity prices are weak it almost a for gone conclusion, but my guess is next quarter at earliest.
@11IABqZY-mvyr, this is not a news site, but a place to share opinions, experiences and yes, rumors. Some turn out to be true, some don’t. But if you hang around long enough, you find it’s really easy to navigate trough posts, cause people downvote empty statements and they get buried pretty soon. If a lot of people are viewing and reacting to a certain thread, something is cooking, that’s for sure.
Everything posted on this website is fake news. Its just about people trying to stir c-ap up. I am going to laugh my head off when another so called announcement date comes and goes without anything happening. Same ole song and dance. I want to see how many posters come back here after 11/22 and tell me “told you so!” Won’t happen. End of story! Get back to work and be silent.
It has already been "announced" several times since May or so. If anything is additionally announced this year I suspect it will be quite general, like the scope and timeline.
I heard the announcement would be on Nov 18th. At least for Project Montana.
I am currently a member of GOM’s Houston team. I have 40 combined Texaco and Chevron years of employment. Will GOM be included in possible layoffs if the layoff rumors are true later this month?
Oil will again sell for $40 per barrel before it sells for $75. As soon as it does, deep cuts will come with the new business cycle. Winning in any environment is not just a nice sounding slogan, CVX Leadership is serious and will do what is needed to sustain financial performance. They will make ends meet through all means available including reducing staff, cutting peripheral programs & initiatives and if required eliminating entire groups, BUs and subsidiaries. Doing more with less is the hot slogan now, but it is more than just a turn of phrase; its an announcement that the company will be leaner and every asset, team, resource, etc. will continually be evaluated and quantified against others for contribution to the bottom line. Big ships turn slowly but I think MW and the BOD see the political, environmental and social challenges ahead off O&G as significant, building and formidable. I think that CVX in 2025 will look a good bit different than what we know now. I don't know if they will get it right, likely some things will succeed and others maybe not so much but I feel that major changes lay ahead and only time will tell. The next major oil price drop or stock market tumble will light the fuse on decisive action for many in the energy industry. We the need arises Leadership will make the moves that for now are just contingency plans. Plan for your own tomorrow because the only thing certain is change.
Last time I checked, there were 7 GMs in GOM and there is no interest in reducing them - even if BCG recommends doing so !
If asset class the way forward, I sure hope that means the Opcos are gone. Not much value added there. Will be interested to see if more than a token number of near-retirement PSGs above 29+ are out the door. Am guessing not as they’ll get protected.
So it sounds like the (non)plan is to have a major corporate reorg BU by BU, each shedding their redundancy at the same time to a mythical PDC round that will converge into a giant clusterf**k of dead meat. No BU will select from the PDC pool when their own are in jeopardy, so the result at the end of a long day will be the same. Redundancies in the pool will be almost uniformly terminated, but only after an extended period a false hopes, fake maneuvering, and butt shining. Sounds like management cowardliness, with the end result more painful for those cut than a clean cull.
@ gtut, I’m not surprised and tend to believe you are correct about the way Chevron Executives and local management now selectively withholds important communications from its employees. BTW, do they still refer to their employees as the company’s most important asset? Don’t answer— it was rhetorical. The day you find out there’s a re-org going on, might be the day you are called to a private room then escorted off the premises.
So glad to hear the consideration for asset class. Currently the upstream BUs are like public schools. Some have way more funding and opportunity than others. Hopefully they consolidate and remove redundant roles. How many VPs do we need, really?
I have a good friend way up the food chain in Houston and ask about this. No one has not heard of a Global ReOrg and was told any ReOrg would be handled by each area through the PDC process. Chevron is getting away from BIG announcements for ReOrgs. Not good for public relations, Plus millennials get turned off and then they do not want to work for Chevron. Chevron is having problems competing for talent. The underperforming assets are struggling and they are told to cut cost and if they do not they will be sold. Look what recently happened to Europe. Chevron closed the doors in Aberdeen. Some people went to a new company and some were severed. These are hard times for the oil industry for sure, with oil prices as they are. Chevron will do whatever it takes to not be underperforming next quarter. I got a lifetime of years with this company and I have exhausted my opportunities with Chevron.
6fky, you seem pretty impressed with yourself.
Everyone works for the pay.
After about 10 yrs in Chevron, I started to lose my focus. Because I constantly need to learn new things everyday which is fine but I hate losing my super technical stength too. I am considered one of the several best SME in US in this technical area. But Chevron does not seem to care. I am working for the pay right now.