Thread regarding Chevron Corp. layoffs

1. 4 is fair. I’m satisfied! Now what do I spend it on….. 👍

“We delivered record earnings and cash flow in 2022, while increasing investments and growing U.S. production to a company record!!” gushed Mike Wirth, Chevron’s chairman and chief executive officer.

https://twitter.com/m1kew1rth/status/1620243782162874369

contractors have no skin in the game why include them in safety metric

Glad we didn’t have a blowout CIP factor. Not the message we want to send with all our fatalities and poor OE performance.

Oh man.

Nothing like making the big $$$, goose the buy back and stock prices, sc--w the worker bees....then again, guess the company has to pay off the execs/LTIPs, pay for the buybacks, and pay the workers compensation for the deaths.

1. 4 is a slap in the fu----g face with how much money they made last year. Go to he-l Wirthless

Wow, thats disappointing. Record earnings and a lower CIP.

1. 4.

These fu----s. Goosed the stock price for 26+ and hosed the rest of us. MW and MN were the ones that gutted the chevron way and took focus away from safety, and now they have the gaul to further fu-k the rank and file.

In the past several years, Wirth always sent out an email with the CIP factor ahead of the townhall. Wonder what’s different this time…. Hoping for a 1.5 or more.

Considering it has yet to be announced I think we will have to wait until Shared Energy next week. I was hoping to estimate my cip this week.

Im guessing 1.75

I miss the days when Watson would announce the Corp factor in the town hall.

you all that are concerned about safety are free to return some of your bonus, send it to washington

it don't make no sence to pay base on safety. My opinion!

The Wells group safety culture is poor at best. Shouldn't be rewarded for the bad safety performance results of the last year. As the saying goes, Own Your Performance. Hoping for a CIP of ZERO.

I know in some countries it is against the law to tie compensation to safety. As it should be.

@zjc+1 90% people that literally had nothing to do with the fatalities get punished for it - is the problem.

"if safety didnt affect profit, it won't affect cip".
Presumably the op who posted the above sits an a ivory tower and has never been in a high risk environment, the environments where the company make the money that pay for the CIP and all the other perks of working the company.
Has the op ever looked into the eyes of a women who's husband won't be coming home again because he has given his life in the pursuit of a living for his family.
If we have poor safety performance as a company then the CIP should be reduced significatly

if safety didnt affect profit, it won't affect cip

I don't agree that safety should be a metric. It should just be a given. We should just do it and not pay people extra to do it.

The OE component is 25% of the scorecard. 1.5 seems fair given our abysmal safety performance

Profit more than doubled from last year. Combined with the huge stock buyback announcement, there is no reason they can’t pay out a 3.0 factor

Profit was around $15B in 2021 and corp factor was 1.5. 2022 profit is $35B, more than double last year. A 1.5 corp factor with such record earnings will ki-l the morale that's left at Chevron. This would have been a year of 2.0 corp factor but with safety record shortfall, 1.85 or 1.9 seems fair. The company has been through a lot in the last 5 years so give folks a break.

I’m guessing 1.4-1.5 give record earnings but also many fatalities.

Given our record earnings it should be the max CIP this year. 2.0 or more.

1. 75 for THEM and 1.2 for the rest of us rank and file employees. It was leaked over the weekend.

The multiplier was 1.5 for last year (2021). In 2022 we made so much more money... looking forward to a >1.5 number for 2022.

MW can't bring himself to give money to us working plebs....1.5 would be amazing expecting closer to 1.0

Waiting for his email which typically has been the end of Jan. Looking for a 1.5 or more

1. 5