Thread regarding Chevron Corp. layoffs

I doubt we will be back in the office the first week of January. Omicron is going to have a huge impact even if it is less severe….just look at what has happened to all the major airlines over the last few days and the U.K. My bet is that an email comes out next week advising on a delay

For better or worse, a large part of CVX’s stock value comes from being on the “dividend aristocrat” list. Every year the dividend has to be increased to stay on the list.

Why is everyone so concerned about being laid off? The oil business has made it through another down cycle and is in the process of heading back up. The price of oil is up and is going to stay up.

If you have worked for the company for several years you should have learned the following:

1. Chevron rewards its executives and managers with stock and stock options
2. Chevron BOD considers stock ownership and stock awards a key part of its executive pay strategy and uses stock ownership requirements to bind executives to company performance
3. The BOD, past executives and many past employees generate a steady and reliable income supplement via exercising their stock options and collecting dividends on their holdings
4. Leadership is committed to the dividend because they own stock themselves, many past executives and employees own stock and key investment banks, hedge funds and large institutional investors own stock in our company and use it to generate income
5. The dividend will be maintained and increased until such time as it is no longer possible to do so. The dividend will be maintained and modestly grown at considerable cost and won't be sacrificed without great pain.
6. The employees will feel pain, the company will sacrifice what is necessary, many financial survival strategies will be used before the dividend is cut.
7. You are wise to own some stock as well; when you own stock in Chevron your dividends are more reliable than your pay; it is that simple. If you get laid off your pay is gone but your dividends could continue to pay you for decades
8. All investments have risks, none are without potential for loss in one form or another. Understanding Chevron's incredible commitment to pay the dividend provides a bit more certainty and a little less risk than some other investments.
9. You can't escape uncertainty in this life; place your faith in those who have shown themselves worthy of your confidence.

MW is a layoff addict it seems but what was said is completely correct. The latest layoff has completely destroyed morale in the company. I too know many people who have left since. They try to blame the frustration on the pandemic but its the transformation that's to blame. They should reward the people who are left and stuck through this mess but the dividend is too important to MW.

If profits aren't in line with expectations then more layoffs will happen. As long as money is rolling in as expected, forget it.

@zcx+1ep4E96z Yes, worst re-org ever. 1,000,000% correct

The last reorg was a complete disaster. Since 2020, six people in my group have either resigned or taken leave. Everyone’s burnt out. I’ve been at chevron for 18 years and I’ve never seen the fallout from a reorg be quite this bad. Another round of layoffs would be su----e (but that won’t stop them!).

I won’t be changing my mind at all. Commicron is the least of all. I have natural immunity just as millions of Americans do, (except those who have been vaxed). Look I understand you have jab remorse but it’s too late. Just please don’t continue taking the boosters! Quit following the crowd!

Healthcare system is on the brink of collapse...The ones that haven’t been vax’d will be changing their tune fast...

From what I have heard this variant is the least impactful on health out of all of them. Not the worse.