cvx roughly made $14.43 billion net profit this year. Interest rate reductions are expected. Leadership still wants to perform massive layoffs.
Reading the comments further solidifies my belief that we have pseudo socialists in the company that need to be let go. Engine can’t come fast enough. Easy to say problem is someone else, when you are cashing the bloated paychecks doing minimal work or re-work
Long list of strategic issues... i wish we had leaders who could do that
remember mw and eb only know how to fire people... the only way they can improve business is by selling assets and laying off people...
Any contractors out there being given 30 day rolling notice periods or do y’all have longer fixed term contracts? Strange way to operate a technical team.
I think you are missing the point. Supervisors should enforce office attendance expectations. We need our brilliant highly paid executives figure out ways to improve long list of strategic issues we've been falling behind on that they are.responsible for... the fact that mn is getting involved shows how small our executives are.... and they don't know how to drive system level improvements
"obsessed with office attendance" Wow. I never thought I'd ever live to see the day. OMG, I have a company and hired/manage some workers to come in and now they have all decided that it should be perfectly ok to stay home unsupervised and pretend to work.
Oh my! They are now pitching a hissy fit because they have to actually come in and work because they were allowed to stay home during a pandemic and do whatever they wanted for so long.
You literally Cant. Make This. $hit. Up.
It appears elt hired more people to monitor this site to make positive comments about them and down vote any "bad" ones. Elt, why don't you focus on proving ypur worth through your actual performance instead of wasting resources to cover up your failures?
Why did we not do engine during the last transformation? Everybody else did it many years ago and were able to absorb the employee offsets gradually through natural attrition. Now chevron will run to catch up and the offsets will come through lay offs.
Because the elt is incompetent.
Why are our best assets not competitive? Tco (eb), abu, company operated permian? Because our elt is incompetent.
Why can't we execute projects on schedule and on budget? Because project management philosophy and accountability model are flawed. Why? Because our elt is incompetent.
Why is our central overhead so high? Because central groups can't effectively support bu's due to substandard ctc-bu support model (eb). Why is that? Because our elt is incompetent.
Why can't we grow the company organically? Because we cut exploration to the bones. Why is that? Because elt is incompetent.
Now the elt is in panic, they are trying to appear calm, but they will now resort to human primal instinct of beating up the weaker ones (employees) instead of being true leaders and leading us out of this mess they created. But they won't do it, will they? Mw and EB already said we need to work harder. MN is obsessed with office attendance. They tell us they are doing great, the strategy is sound... no it is not, MW, EB and MN need to go. We need real leaders from outside of cvx.
Yoda: "Guys we are competing for same investors, what our leadership is doing is acting not to be left behind..."
No, you're taking everything they said at face value and it's BS. Go look at the quarterly earnings. It's green all year long and it's about $14.43 billion. They can afford to keep employees. We've been thru worse. This is pure greed. They, especially MW, have major cvx positions, so of course they weigh shareholders to a disproportionate advantage over employees. What we have here is a class war and you're taking other side, because you take everything they say at face value.
"The majority of CVX stock is held by mutual funds - Vanguard, Fidelity"
That's true, but besides the point. Cvx makes up %0.51 of $VOO, the vanguard S&P500 fund. This only translates to $510 per $100,000 invested, so the average individual has an insignificant stake in cvx. On a 10% cvx gain, they would make a meegle $51. That individual has minimal shareholder rights.
MW had 64,000 shares on Feb 2 amounting to about $9,854,080. They're going to make a ki-ling after they terminate jobs. Our pain is their gain.
"Easy decision then. Quit and go work somewhere else."
No! Other than the greedy executives acting overly bearish, the company is a great company to work for. We've been thru much worse times and many of us survived the layoffs. For people like me, it's worth fighting for your job. Quiting isn't an option. My idea of success was to retire from the company, but that could get cut pretty short.
Already, it's a playbook shared between she'll, chevron, exxon, and even microsoft. If many companies continue this trajectory, there won't be other jobs to apply for.
Guys we are competing for same investors, what our leadership is doing is acting not to be left behind. This is Capitalism. Thomas Friedman talked about World is Flat 20 years ago, we just are acting now. It hurts to individuals, best is to focus that energy to make yourself important or skill up in another field. It’s understandable that it hurts, but get off this site and use that energy to better yourself
Ugggh, The Jelly is so thick I can't even wade through it..... lmao.
Easy decision then. Quit and go work somewhere else.
What's stopping you? Do they have you locked up and threw away the key?
No? Didn't think so.
Yawn...........
If much of houston workforce gets cut, then less houston wealth distribution should result in less houston tax relief and subsidies.
As of 2024-06-30, Berkshire Hathaway Inc held 118.61 Mil cvx shares.
Mike Wirth 4.87M shares
Mr. R. Hewitt Pate 2.38M shares
Mark A. Nelson 2.75M shares
The majority of CVX stock is held by mutual funds - Vanguard, Fidelity, etc and State retirement entities. These in turn are held by every day investors, employees, and retirees. CVX executives own 0.02 percent.