Could have been worse.
26 replies (most recent on top)
- 95 is a slap in the face when your company profits $24.69 Bn in 2023 and made $36.5 Bn in 2022 (best in history). There are other factors that go into it, but it only seems to impact employees, not executives!
I heard the Shell employees met their targets for production, cost and projects.
Shell got a 1.58 CIP
I sometimes wonder who is the down voting lo$er and why this person is so obsessive.
With aspirational business planning that’s been going on for the last few years, the targets will never be met.
The CIP is not free money, it’s built into our comp packages. Thus we know a range of what a typical year will bring and is predictable. R&As are a completely free bonus. Totally random amounts and at random times. Something that is unpredictable
CIP is an incentive program “free money”. Although not as good as least year, any bonus is better than none.
Seems like half the time since 2015 we have been below 1.0 on CIP due to terrible employees. We just can't seem to ever meet our commitments on capex, opex, safety, project execution, production, etc. We need to Do Better.
Depending on how you view 0.95, remember, good CIP means poor salary action. @1afa, those "quality employees" may wait a little longer to see what their raises look like.
Proof of employee sentiment will come in the weeks after the bonus is paid out - see how many quality employees decide to leave.
It does not matter what the CIP is, you are always paid far less than what you are worth. If you chose to work for Corporate America, you have accepted enslavement, period. If you want to be really free, start your own business and then see how much you make and how fair you will be to your employees [if you are lucky and capable to have some].
@lfk+1qVYNreY okay, so lets use profit then. Profit declined 25.47% YOY. Dividend increased 8% to offset any losses in the stock, which I get. MW got a pay raise of 10%, along with raises for other C's. So this is CVX saying that the shareholders and leaders are worth 40% more to the bottom line than the rank and file (as compared to last year) when non-revenue metrics were worse. Bring back BU weighting. Saying the work certain BU's have done to increase production for the entire company is worth 55% less this year (oh and we expect continued astronomical gains) is pretty galling.
Unfortunately it is not a profit sharing plan. Includes other metrics like opex, capex, projects, production, etc. So revenue comparison doesn’t really work.
Last year's was 1.5. So it's a .55 reduction YOY. Revenue only dropped 15% from 22 to 23. This was still a kick in the teeth when you compare the numbers.
I don’t care what’s the number tbh. But I hope there are no layoffs coming. Many industries, including manufacturing are expecting huge layoffs starting March’ 24…
Still in the "blessed to have a good job with a good pension and bonus plan club". Life isn't always fair, but the fact of the matter is that we at Chevron have it better than most working people in America. If we had delivered on all the things mentioned in the Pierre email, imagine what we would have gotten. So... let's do better.
Lots of spending and an increase to the shareholders. All good to me, happy to get anything. Happy to have a good job.
And here is the net income for those years kte!
2023 - 0.95: 21.4B
2020 - 0.75: -5.5B
2019 - 0.95: 2.3B
2016 - 0.75: -.5B
2015 - 0.80: 4.6B
I much more like to do this kind of meeting as a board member to discuss what this number should be than doing a complex huge reservoir simulation job but requires a phd degree… different life style.
Not worst in last ten years. There have been other times it was 0.95 or lower:
2023 - 0.95
2020 - 0.75
2019 - 0.95
2016 - 0.75
2015 - 0.80
They clearly wanted this lower but had to course correct after the PB email fallout.
Better than the Jelly of the month club?
worst in last 10 years?
👍🏽. Seems reasonable I guess.
I don’t buy the “could have been worse” talk. The PB email setup those thoughts, but in reality the employees got hosed during a strong financial performance year.
Could’ve been better too