Asset class based, reduced to ops only field offices, IT HR Finance Remote monitoring centers gone first half 2025, petrotechnicals will work themselves out of a job in 2025 and 1st half of 2026 will be gone
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Based on $700 mm in severance I would guess about 2200-2500 or so will be let go through EOI and layoffs.
High level org structure will be announced and the EOI
With so many people fiddle-fa.rting around on sites like this all day it's no wonder they need to eliminate half their people at CVX.
ABU 3 phase progressive layoffs
- ABU org restructure
- Global restructure
- ENGINE transition
Coming to Texas and Australia soon… but not as fast as MH’s Chevron private jet
This waiting is literally ki-ling people. Only Chevron can do this. You tell your employees that they will be laid off but don't provide too many details.
CTC gonna be obliterated
I know nothing but everyone’s guesses for cip ranged from 0 to .75. Others are saying 20-60% cuts etc etc. I think about 20% in this site seems to approximate truth, which is more than we get from management I guess.
Only thing I am hearing guys is CEO job is going to be engined saving 100 million
I know my function doesn’t have the final org chart drafted yet. McK is cooking right now.
CTC at 40 is a great outcome
Its clear no one on here knows sheet about anything. Look at the ridiculous guesses on the CIP thread.
CTC 40%
Town halls are being scheduled the end of first week of March. Safe to assume
The first wave of “whatever is happening” will be starting March 3rd??
I think they are just tricking us for a joke
CIO LC sent email there will be IT meetings scheduled in March after the SETH next week.
I know nothing but I’m expecting something big next week. Like divesting of some assets and cuts at floor of 20% and as high as 60% in certain functions.