Anyone have the inside info on this big town hall conversation thing that was supposed to happen Nov 9 but is now postponed? Speakers were EB, BK, NH, and MN. Don’t get those people all in a room just for a chat.
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Can't believe these are the clowns in charge of a $270 billion dollar oil company.
The scoop is that CTC was about to do their own thang and then NH from OPG comes in and saids wait a minute, we need to do this together next year as OneTeam (ha) and then the rumor from the executive meetings this week in H-Town is that MW told everyone we are not doing any big “named” reductions (e.g. 2020 transform). Heard that the ELT can’t get their s&it together as OneTeam. Duh…..I couldve told ya dat without the meeting. Hot air……..
Its also amazing that the timing of such an important call was after work hours. What a tone deaf group!
For Opex they probably want to hit a budget of $15.00 and just have everyone chip in the rest. Anyone willing to take on maintenance duties on top of their normal job to help cut costs? Maybe supply your own toliet paper? Donations bin to "Save the Shareholder"? Our starving shareholders need help badly!
I don’t have any details, but in the 20 years that I have worked at Chevron the rumors about big corporate moves I read first here on layoff.com turned out to be mostly true much more often than not.
the top leaders are meeting tomorrow to talk about this. the numbers they are trying to hit with opex targets are unreasonable and unattainable without a massive layoff event. saw it on some poster boards upstairs when snooping around for free food.
Yep what a major crazy faux pas sending that email out postponing the meeting was. Never seen that level of incompetence here. Sad.
Could it be that EB and MW are going to announce they have joined the Sith and want to enact order 66? That leads me to wonder who is the emperor?
Postponing the meeting meant that HR and Legal hadn't finalized the layoff scenario.
Heard they gonna move all BU ARM teams to CTC in 1H 2024.
@4otg nailed it. So much scapegoating of CTC to deflect dismal performance by the BUs.
“Looks like the handwriting is on the wall for CTC. Take a look at Chevron's recent acquisitions - Hess, Noble, Atlas, even Anadarko which we coveted. None had anything that resembled a CTC”
Funny you noticed that about CTC but ignored the fact that operating units have not achieved anything worth of mentioning in the last decade in terms of added resources, nor reducing the amount of overrun projects. Just saying . . .
Just wanted to share my thought. Ctc has roughly stayed the same size, but leaned existing groups and picked up new group. Post Noble, PDC and Hess we are a much larger organization. CTC is already much less centralized compared to xom. Leaderships average age gets lower every year. Young people do not want to work in our industry. We tend to loose many of the employees from acquired company. And we have ample green badges.
Reorganized sure. Layoff….. I doubt it, and I am normally pessimistic. Cvx lays off slow….. so not much anxiety, I just doubt layoffs are coming from the cvx side. Could be changed in pension etc, tbd
Total sh-t that they postpone with no next date sent out.
Chevron has become such an utter sh*tshow.
It speaks volumes that our management can’t lead in direction by incremental day to day changes towards linger term targets, but rather can only led by huge painful reorganizations. Demonstrates more clearly than anything else that they have no idea what they are doing!
Post-poning a major meeting is normally a signal of a major crisis. It is just NOT DONE.
IT is not in CTC anymore so not sure what you're talking about
Its looking like management's hatred of IT resources is rearing its head again.
Looks like the handwriting is on the wall for CTC. Take a look at Chevron's recent acquisitions - Hess, Noble, Atlas, even Anadarko which we coveted. None had anything that resembled a CTC. Looks like the "empire" that MK built 12 years ago (and which he bailed out of with a golden parachute in 2016) is finally being dismantled. My guess is the "kids" (hired after 2010 or thereabouts, they're cheap and not set in their ways) will be offered to the BUs, another bunch of maybe 40-50 people, mostly older ones +/- Fellows +/- managers, will be retained to be surplus and/or booking agents for consultants. They will have an understanding with Chevron that they "quietly" retire over the next 2-5 years. Everyone else will be invited to a special showing of "Titanic" to understand their fate.
I heard MW was actually going to announce that he is G@y for DJT ?
I’m at CTC and my boss told us to start looking around, both internally and externally. Things are not looking great
What a clown you honestly believe MW and his band of merry people care one iota about the employee survey or the employee moral. Stock price .bonuses and their benefits is all that matters to them. Head cuts are coming or to quote the famous moral boosting saying “floggings will continue until moral improves”. Get the h**l out while you can. MW knows there are thousands of folks out on the street who will take your job and say yes sir
MW would be crazy to launch another massive layoff with the poor state things are in now. The employee survey has got to be dismal. He probably will launch a layoff since it's the #1 way to advance here.
Heard the same thing from a GM - divide CTC to assets
I know what it is, it’s not good. more a long term thing, not much cuts immediately.
I heard we are moving 40% of BU to CTC, to enable acceleration of CTC.
Was told CTC 30%
Chevron went through transformation in 2020. Headcount commitments were made. Curious how well that was maintained/progressed. Does anyone ever ask that question?
30% reduction in the rest of HR and about 20% reduction in CTC.
@2hyh+1ptz74Ho: We will make sure that you are voted off the island first.
Lets hope its layoffs because i have been searching really hard for layoffs on the Layoff site! Kind of goes against the name if there are no layoffs. Good luck!
There probably will be layoffs because that seems to be enshrined in the Chevron Way with our current leadership. A company this unstable is going to fail.
Was "accelerate " not MW's name for his layoff program when he was in charge of downstream?
Surely not KP or MP?
HR already did their reshuffling of leaders. And a very notably missing name from the list is also the same leader who led the last ROM... Perhaps she was not named because she's got a new gig in 2024 to lead another one. Pretty easy to read the tea leaves.
You mean 40% take jobs from unqualified BU slackers who are unceremoniously sacked...
@1trb, I like that notion. Have everyone in CTC apply for a BU position. The welcome 40% get in, the remaining 60% are told 'there is no position for you'. Easy-peasy layoffs, eliminates age discrimination or wrongful termination lawsuits.
"Accelerating progress" - just another euphemism for "re-organization" which is just another euphemism for "down-sizing" which is just sugar-coated "layoffs". If indeed those were the speakers, sounds more like breaking up CTC and relocating the worthwhile 40% into BUs, that is, putting them where they can have immediate impact (in other words, "acceleration"). Maybe then they can develop virtual functional groups to share ideas and best practices, creating the illusion that there still is a CTC.
33% cut coming
Is that a fun sounding code word for layoffs?