Just look at Exxon. Even though they are doing well they continue to move jobs to India. Executives will ALWAYS seek out the cheapest workers. LOYALTY IS DEAD
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Just step back and look at this: imagine a company that for a decade now spends far more on stock-buybacks than on exploration or capital projects. How would you expect that company to thrive in the future? Add to that that our attempts at diversifying into alternative fuels has been a bitter failure (not to mention capex that could have gone into something more productive). The handwriting's on the wall, fellow Chevron employees.
It's the McKinsey way.
Loyalty has been dead since the mid-1980's, when Harvard and Wharton MBAs told industry there was no need to be loyal to employees, they were a-dime-a-dozen and readily replaceable.
@a8+1, Chevron was fooled in 2015 when some BP exec (or was it Shell?) said that we were in a period of "lower for longer" prices. So the knee-je-k reaction was to downsize dramatically because the price of oil wouldn't recover. But then it did. And we weren't staffed (or financed) well enough to find or develop new reserves, we were brazenly more interested in financing stock buy-backs. Fast forward to 2020, Covid drove futures prices negative, all the chicken-littles in SR said this is the end of the world, we need to cut dramatically, and this is a good time to get rid of all those expensive Boomers. Then the price came back, but now not only were we short-staffed, but we were also short-experienced. Excluding the expensive acquisitions, the Chevron Titanic has been slowly sinking the last five years, with nothing to show for it except Noble and maybe Hess. All the survivors will be put into ENGINE "lifeboats". Quite frankly, Chevron will never be the same again.
Look at all this Schadenfreude towards the people getting laid off... gawd they must be miserable sumbiches!
XOM hires many more people than CVX. They ARE in growth mode whereas CVX is shrinking.
Agenda 2030 is happening.
Money talks.
This is a business not a humanitarian charity.
That’s just a fact.
Yea don’t mistake Xoms stock due to some creative ingenuity by Woods or his followers. The sups/managers have figured out how to push contributors out and keep who will help them with the pds.
Aye? so companies exist to employ people?
Where were you in 2015 ?????
Oil prices dipped temporarily and Chevron bled money. Their solution was to slash jobs.