Yet somehow, employees are still underpaid and we still have to worry about layoffs. Go figure.
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Yes, the last comment was spot on as well. thread closed!
OP must be new in Chevron. Chevron has been among the "top ten largest companies in America" (I assume you measure that by market cap) for a long time. If you meant by # employees, Chevron hasn't been that for a while now. For the most part, Chevron employees are compensated quite well for what is expected of them (which isn't much). Top performers can do better elsewhere.
The previous comment is 100% spot on!
1fip: Yes O&G industry is cyclical and Chevron is a big ship, full of long-term investments, that is hard to turn with the times. By the time we react to a downturn and start handing out severence checks, we are near the start of the next upswing. Then during the upswing we again hire like mad and train new workers, which are almost up to speed when the next down turn occurs. It does not take a big brain to conclude that if we stayed lean during booms and did nothing during busts we would be a lot better off long term....but I guess that idea too hard for managers who wish the rank and file would just STFU and do as told. The best way to stay lean is to NOT fill 2/3 of the middle management positons we have now and focus on keeping high preforming worker bees and Sr. management who have clear vision (exactly the opposite of what occured during the last "transformation" as far as I could tell. Too bad someone did not speak up when that shitshow was being planned!
You do realize the O&G industry is cyclical, right? Go be a divorce lawyer, mortician, or accountant - all of which will always have customers and stability. Otherwise STFU.
@1isk, the company you described is Exxon.
Chevron’s love of layoffs every time there is a dip in oil prices is very destructive (mostly to show investors that we are doing “something”). Same with “everyone stop traveling” every time there is a down turn. A better run company might layoff poor performers as needed and worry about excessive spending, but would hold the triller steady during commodity fluctuations. Giving in to bo-m - bust short-term worries costs a lot more in the long run!
Largest population of underpaid, unmotivated and least engaged employees
Companies don't grow large by overpaying employees.
cue+1n0kIbxp clearly does not work for chevron....unless they are a brainwashed hipot.
Not sure where you work, but I am not underpaid and I do not worry about layoffs.