Is ELT making any sacrifices at all during this process? We are laying thousands off and have they gotten rid of the box Seats? They are still sponsoring the rodeo and things like that. Maybe cut those things first. Chevron's reputation is in the gutter especially with all the plant issues and accidents. Our ELT are absolute trash unfortunately.
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They like to cut small, inconsequential perks to the worker bees so why shouldn't they get share the pain? The monthly birthday cakes for all the people celebrating a birthday that particular month cost a lot less than a rodeo suite.
I heard everyone in the Midland office was being given a cowboy hat! Makes sense since the company is "all hat no cattle"
I miss the Christmas parties at Hotel ZaZa!!
They have layoffs to KEEP doing these kinds of things. Leadership roles and perks will be the last thing to go... and that will only happen if the investors start to cry out over poor stock performance
OP those things are a drop in the bucket and would be pointless virtue signaling.
The reason we're at this time and place are numerous and it has very little to do with sponsorships.
There was once a time and place where business decisions were made by weighing a company's past and next 100 years vs. quarterly and yearly reportings. There is absolutely nothing wrong with capitalism and publicly trading companies, only people with the mindset that short term shareholder people-pleasing is greater than dominating in the long-term. Add ESG strings from financiers and it gets worse.
The ship sailed a long time ago but maybe people start to consider working for privately-held companies that aren't willing to decimate their workforce in the name of generating shareholder "value".