Thread regarding Chevron Corp. layoffs

dividend raise > pay raises

I appreciate the Corp factor but my IC is Down from last year. But we're all doing the same work with less folks. Cvx is either showing the folks the door or sabotaging their success.

I absolutely agree with the original poster. It’s clear Chevron is transitioning away from large merit increases in Lou of bonuses. One thing to keep in mind though is we had record profits and oil prices this year. What’s going to happen when oil levels off? Low merit increases and normal bonuses. I think it’s clear by all the questions in the town halls about the new merit increase system. Hopefully Chevron will take its employees perspective into account. I wish they would do some type of survey on the new system as it’s definitely not popular

High bonus / low pay increase is how smaller companies work (I know, been there). It's basically a one-year retention plan. Keep you happy by giving you the money to go out and buy a new BMW, hope you don't realize that none of that is long-term benefit bearing.

The company doesn't want to give you a high raise - they rather put that money to the dividend and giving the real raises to high-pots and executives. Big bonuses are sugar-coating to keep you from leaving - this year. Next year they'll pull the same stunt.

The flaw in the logic of those that like the new policy with high bonuses is they seem to think years with low bonuses will magically go back to higher raises. Don't work that way.

Compounding is always your friend, not quick shot one offs. Never mind that when it comes retirement time your pension is based on salary and has f all to do with how much in bonuses you collected over the years.

I prefer the much higher bonuses vs getting an additional 1 or 3 % raise. While bonuses are only one time, the value is significantly more which outpaces compounded raises.

Agreed. Sounds like tech company pay philosophy - oh yeah, except that tech companies also compensate in stock to the rank and file.