I know there are so many Chevron fanboys here, but none of you can tell me in all honestly that this is the same company it was five years ago, not to mention a decade ago. The complete mistreatment of employees is a newer thing and it will cost the company in the long run. This is the hill I'm willing to die on.
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The question is: how MW who knows nothing but layoffs had become the CEO of this company??? Considering there are so many smart people who hold PHDs from MIT, standford, prienston, etc, who are much more better than him in the company…
@2awt: "Who would have guessed?" Well, in retrospect, if you look at the career climb of MW, it was all built on profit, profit, profit, based on layoff, layoff, layoff, that is, continued downsizing. Realistically, that's not a bad approach if you're trying to turn around a company in the short term (Although, in retrospect, it's hard to say that Chevron needed "turning around"). Chevron's mistake was allowing MW to continue his focus on profit and layoffs as a long term strategy, which obviously runs a company into the ground (no growth, just selling off assets to fund dividends and stock buybacks, and relying on acquisitions to maintain production) and completely destroys morale.
Between all the Sr. technological staff layoffs and the switch from the “Chevron Way” to Agile there is not much left of the Chevron of a decade ago. It’s looking like a focus just on stock buy backs and investor dividends rather than staff development and resource building is not good for long term growth. That’s very strange: Who would have guessed?
@1hbp+ I'm a relatively new employee having only been here a couple years. How did we get to this point? Is it MW who caused the change or someone else?
Don’t forget how it all started. What could possibly go wrong?
https://www.foxbusiness.com/markets/chevron-to-improve-diversity-ratio-amid-company-layoffs
Chevron has been declining since its peak as a "most admired" company (internally and externally) around 2013. As mentioned many times, morale is horrible. Management makes no effort to listen to its employees (preferring jackal consultants instead), and regards them, through regular layoffs and retirements, with disdain. Production is kept up only through acquisitions. There is no "Chevron Way" anymore as this unifying concept has been replaced by divisive DEI and blatant cronyism. Training and career development are now left to the individual to figure out (most will find it at other companies). The company knowingly and purposefully retired the majority of its experience in 2020, shortsightedly viewing those employees as more expensive than useful. No one looks up to management as either role models or competent decision makers. There's no coherent long-term strategy that staff can identify with. Rather, that long-term strategy seems not to be growing the company but continued financial bloodletting with dividends and stock buybacks (both of which heavily favor psg 26+). Neither does anything for the health of the company outside of Wall St.'s perception and fattening senior management's retirement portfolios.
Nope, it is still much better than SLB and HAL cr-p.
So basically now Chevron became as sh---y as Schlumberger and Halliburton, when it comes to employees morale and fulfillment ?
https://www.youtube.com/watch?v=xBWmkwaTQ0k
Management either doesn't see the long term damage they are doing by demoralizing the employees since the massive 2020 layoff or they just don't care. This is not even close to the same company and it's MWs doing with his ruthless cost cutting and layoffs. Tack on poor WFH policies they are doing all they can to destroy OE.
To be fair I’m not sure it’s that slow given performance metrics.
Did anything excel last year? Or meet plan?
They don’t view the employees as mistreated. I mean look at these survey results over here. And look at this award over there. And look at our leader getting an award in this obscure category. See, everyone is happy!
You are standing on a hill?