Is our current ELT team the worst in Chevron history and and in the industry? When layoffs and outsourcing is your only lever to pull we have terrible "leaders".
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You obviously weren’t around when GK’s answer for everything was to spend more capital and sanction more bad projects. We were spending >$40 billion in capex and getting nothing for it. That was definitely worse.
Why not flex both levers?... Simple fact is that Chevron is bottom quartile on both cost and performance (E.g., decision quality, technical innovation, play creation, etc.).
There's nothing redeeming about their org. Why not blow it up and rebuild?