After reflecting on the different variables and options, what do you think is the definition of a good salary in your city?
Oil down another 6% after Travel ban from Europe
WTI is barely above $30, tomorrow we will have $20 something oil, oh boy lay offs are coming faster and in much bigger number, 30% will be gone if prices stay like this until June.
Is it true layoffs have started already?
Somebody said there were already some layoffs in San Ramon, is this true? And if it is, how long before the rest of us are affected?
Green Screens
I really enjoyed MW’s fake green screen video with background noise to make it look like he’s just casually recording a professionally lit video from the pandemic nerve center in a room full of people. No doubt he was safely in his office.
Market will be flooded with extra oil beginning in April
The Saudi’s and Russians will max their output in April. This is when low oil prices will be tested again along with lower oil stock prices. What will the oil industry look like in 1 year if the market remains flooded with oil? Should the oil... — read more
How Long Will This Last
Here is a short part from a Bloomberg news article today. Lots of jobs will be lost in the oil industry. The upside is that you will not be alone. Saudi Arabia and Russia Dig In for a Long, Bitter Oil-Price War (Bloomberg) – Saudi Arabia and... — read more
Expats
How many super highly paid expats with their zillion allowances are out there? Each expat is at least a million dollars in cost. Eliminate 500 expats or move them back to their home base where possible. That is at least 500 million bucks. Could be... — read more
Historic buying opportunity
As a new hire I keep hiring: "Historic buying opportunity"... Would someone experienced be able to help me understand why most people feel this way. I do not have much money saved but I'd like to start investing now and any suggestion or advice... — read more
So who's doing better so far? MW or JW?
Be frank!
Focus will be on free cash flow to pay dividends by reducing capital, selling assets, loans, layoffs and mergers.
The depth and duration of these low prices will dictate the pain severity Chevron will go through. Asset sales to pay dividends will be more difficult this time given we already sold most of our non-core assets. Capital reduction can be done quickly... — read more
Stock Price
Chevron stock down $10.79 to $84.50 in premarket. Time for senior management to implement plan b panic mode. This situation will not end quickly.
Dow futures drop over 1,000 pts as oil plunges 30%
https://www.foxbusiness.com/markets/dow-futures-drop-1000-pts-as-oil-plunges-25
Oil war begins (Saudi Arabia vs Russia) --- Oil @28
https://www.barrons.com/articles/why-are-oil-prices-falling-todayand-how-far-can-they-fall-an-expert-weighs-in-51583724435
Here Is The Latest Saudi Oil/Stck Market News
S. stock futures, crude oil prices tumble on price-war fears Dow futures sink 900 points late Sunday as crude prices plunge more than 20% S stock futures and crude oil prices plunged immediately after the start of electronic trading late... — read more
Russia Breaks With OPEC Targets US Producers
Russia will not cut production and will make effort to hurt US shale oil producers. Get ready for WTI below $40. You know what that means. Yes you do.
Working from home
When are they going to start letting us work from home?
GOMBU donezo
With oil approaching less than $40/barrel, it's guaranteed that GOMBU will be closing it's sh– doors. Congrats to all of the sub-prime scum that made it past the 2015 layoffs, now is your time. Congratulations!
WTI Down Big Again
Well, WTI futures currently down to $43.88/barrel. DOW futures down around 500 points. Everyone knows that by the end of this year someone they know will be out of a job in a shrinking industry. Russia is not agreeing to an OPEC production cut... — read more
ETC Townhall - a new low
That was probably the worst town hall I have seen in about 20 years. No information and a bunch of talking heads who spoke mostly drivel. Employee morale hit a new low after that hot mess.
EOI flexibility
The EOI is available to BU/DEPT management thru the end of 2021. Its not going to happen all at once and can vary by employee with each department. Its to be used as a management tool where needed, especially where must move AMBU employees are... — read more
EOI
I was hopeful to hear more about the EOI by now. Especially with AMBU having their lay-offs in April. I thought they might want to find a few volunteers that are willing to be displaced by those anxious and Nervous AMBU employees that are willing... — read more
Master thread for CoronaVirus and impact on Chevron
What is next for us? Keep calm and carry on…
Lack of PSG increases?
Despite multiple 2+ rankings, I was told by my supervisor there were a VERY limited number of PSG increases at the end of year. One would assume this has to do with the EOI. Has anyone else heard similar?
April layoffs
In case somebody missed it. "Chevron Corp. will be launching a round of layoffs beginning April 6 as it sells its Appalachian natural gas operations, according to a WARN notice the company sent to the Pennsylvania Department of Labor & Industry... — read more
2015 Coming to You
Big time layoffs this year. Gloat and brag all you want. It will be a wonderous day to behold.
enhanced EOI packages
This will be done to avoid a selection process
company wide EOI reductions. predictions
we continue to hire..currently 100 plus postings in North America..a new position created a few years ago called "Advisor" and always comes with a hefty PSG and no accountability to the bottom line. Where is the disconnect in our company?
EOI in staying
Without knowing what the new detailed structure will look like, betting on leaving is just as dangerous as betting on staying (and risking the outcome of the massive reorg that is coming). 5-6 months will likely pass to adjust for the market... — read more
DOW and Oil Futures Down Again
So far this morning, DOW down around 300 points and WTI down around $1.57 to $45.52/barrel. Face it, the headcount reduction numbers will be steadily increasing the longer this virus c-ap goes on.
Expression of Interest date
Any info out there on when last day of employment will be if EOI agreed to. I'm hearing there will be a great deal of flexibility, varying from BU to BU.
Coronavirus hou1400
I no see any correspondence on this matter but it was reported an engineer on the 19 level recently traveled from northern italy and he was seen by medical at the hou1400 clinic he was cleared and asked to go on quarantine Chevron should be... — read more
Let’s play count the consultants...
How many teams of consultants do we have? And where? Let’s make a list. I’ll go first... D2D- McKinsey Functional transformation- BCG Upstream evolution-BCG Imagine IT- BCG Downstream strategy- Deloitte Where else?
Coronavurus...we have been warned it’s coming
Do you think for a minute the company has thought about this and how it might handle business? Travel is still allowed everywhere but mainland China. I guess you can’t expect Chevron to be forward thinking... we have such a diverse work force it... — read more
Chevron now a "Has Been"?
Stock price been c-appy past year, no or very little growth. Is Chevron on the way to becoming another XPOM, both bloated behmoth oil companies. Is it time to get out of Chevron?
New PMP
The new PMP has to be a HR joke. They have literally kept the worst part of the PMP, that we all hated and done away with the only objective part of it that worked. Does HR live on another planet? Do they not actual understand the business we work... — read more
When the CEO has no clue on how running an E&P company
R TO R ratio is 44% for the past year lowest of all majors, MW is so into digitization and transformation that is missing the main bread and butter all companies need, reserves, instead he is pulling out of countries and cutting costs only. Embrace... — read more