What will MW use this year to justify cutting the CIP and start layoffs? Will the cost of window damage in Houston cut into it? We all know he's going to cut it somehow while boosting his salary like he did this year. Then he'll try to jump into his hobbies .... layoffs and more cost reductions.
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Fire MW!
MW's modus operandi for the last 15 years has been, the minute (or quarter) cash flow or margins are not meeting expectations, do some layoffs and bring in consultants to "re-imagine" or "re-brand". Don't believe me? Just look at Downstream 2010, and the Company as a whole 2015 and 2020. See a pattern there? Layoffs are coming in 2025!
No justification, he just is waiting to pull the string.
Deep cuts in IT? We hardly have anyone left after cutting all the contractors. We definitely need more engineers.
It's time to get rid of Chapter and Platform model. AG and TK have destroyed them. New CIO has to make some drastic changes and some deep cuts.
Wonder what Slim Shady would say to MW? "Maybe put a finger on each hand up"
Chevron upper management has sat on the wrong side of the upper management / ordinary employee compensation ratio for a long time now, probably for two decades. Our spokespeople just ignore this issue in any discussion or interview. The only time I can remember the issue coming up was about ten years ago. At that point, spokespeople used a convoluted and cherry-picked ratio of upper management / US professional compensation to say, "look! we're fine!"
Yeah. Look he probably is working 80 hour weeks but then again a lot of it is dinners with hedge fund managers or golfing with senators. So not bad work.
Hess is all he needs to justify another layoff. And our continued failure to beat the competition. Oh and guess what, the end of hybrid will come by end of the year. Say hello to 4 days in the office.
Here’s some simplified CEO math to give an order of magnitude. MW total compensation last year was $26 million or over $2 million a month, or about $500K a week, and if he worked five ten hour days a each week that’s $10,000 an hour. Nice work if you can get it.