Chevron has had zero strategy besides higher returns and lower carbon and very little management effort to shape execution of the vague strategy. Appears the strategy has been 'follow whatever our competitors are doing.' See the lame green strategy and buying in to Exxon's Guyana success. Stock should be way higher than current if we had competent leadership and a decent strategy. Employees and technology have driven success in the past, now efficient execution of capital treadmill efforts like shale extraction are driving success. Very hard to compete with and differentiate yourself from independents in this game. Wall Street is voting with their sell buttons.
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Split into 2 operating companies e.g. Conoco / Phillips 66
For reducing layoffs or is this just another non-layoff related chat group session that you would rather post on the layoff site because you are not aware of any other form of social media?
Don’t worry our fearless leaders will just copy what Exxon and Shell do. They have no ideas of their own. No leadership there at all. Until they are gone you can forget about creating value or being the top performer in the oil industry. All they know is “me too” strategy.
We should go back to playing the oil and gas cycles. No acquisitions when oil is above 45 and no divestments until oil is above 90. Same rule for our buybacks. No buybacks when oil is over 60 and focus on debt instead.
Push the Chevron assets into non operated JVs. Retain veto power over budget and development scope. Let go of the rest.
Chevron has differentiated cost of capital and some solid subsurface talent (Res, Geos, decision analysts). The rest of their org is a strategic disadvantage.
Also fire everyone with "advisor" in thier job title. An additional B$ saving not only in salary but in the unnecessary expense these bodies cause.
Ditch CNE and blackball the entire CNE workforce. Fire everyone with “diversity “ in their job title. I just saved the company $2B per year. Next question.