Does ELT know how much their employees despise them or are they kept in the dark by the boot lickers below them? The BOD needs to realize how much of a failure they are and how they have completely lost their employees and fire them all.
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@dv I've been at other (once successful) firms who have entered the death spiral brought about by a lack of strategy. In those firms, the interval between layoffs changed from every ~5 years, to being more like every 12-18 months.
Also in each of those companies, their stock moved from being a growth stock, to a dividend stock. Now, look at Chevron's stationary stock price over the last five years, and the need to protect the dividend?
I see many similarities...
@ah
I hope we can get another 3 years before the next reorg.
If there is no exploration success look out for another acquisition in ‘27-28.
This will be followed by a blood letting that will make ‘20 and ‘25 look like kindergarten games.
Chevron will then transition to being a production focused low cost/high profit company (say like Hilcorp).
HR downvoting trolls apparanently are reading this. get a life.
@ah now that makes sense
They don’t care. Eliminating most positions in San Ramon and 1/2 the US Workforce is Phase 1. Phase 2 will be further reductions in US and further reductions in Houston. This means selling off or leasing buildings they are modernizing. The modernization is not for you. It is to make building more attractive when they sell or lease it. Those with US jobs should be looking before Phase 2 reductions in next 2-3 years.
They don't care, this is all part of the plan to diminish the CVX brand, for other purposes...