It seems layoffs are coming based on what was said. A lot of good questions asked. What are your thoughts around what was said?
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All CTC knows what to do these days is throw grenades, recite the code and not make risk-based decisions
@6fww - Unsurprisingly, 2013 coincides with the closing of San Ramon's ETC offices and the move to get everyone to Houston. As a result, many of the talented people who wanted to stay in the Bay Area left or retired from the company then or in the next few years. Just another example of how upper management doesn't really understand their "human energy" and what motivates them.
CTC (then ETC) reached its "peak" in 2013. It's been cut, cut, cut since then, along with wholesale exit/retirement of all the good people, and decline in its value brought to the Company. You're left with a collection of prima donna Fellows, clueless managers, and <10 yr experience kids.
@2qpj, spot on. There was a time when CTC (and its predecessors) had BU credibility as problem solvers. Now they're just extra hands ("...body shop for the BUs... I like that!), and their over-inflated charges (to cover all the do-nothing managers) are painful to the BUs.
@2qpj: "apply to the bottom line as fast as possible"... absolutely correct. This is the direct result of Agile thinking rather than the old Chevron Way: "Always time to do it right". Short-term sprints may be THE THING for short fuse startup code developers, but it is simply naive for long term projects that take a big cash layout over many years to carefully plan and develop. In our industry 100 chickens running frantically in circles is not better than one smart guy strategically placed with the right shovel.
CTC used to add value, do actual technical research and included some highly respected scientists and engineers including managers with huge tech credentials. But over the years, the company has really pushed the tech co to become as applied as they can (in the same short-sighted fashion exploration has been pushed to instant, low-risk volume adds causing us to miss out on all the large discoveries for 20 years). All the work needs to apply to the bottom line as fast as possible. As a result, all the talent has been frittered away and CTC is just a body shop for the BUs. The CTC workers have no perspective on the business and are expected to churn out products quickly and move on. CTC management are simply administrators who kow-tow to the P&L managers in the BUs. It's sad and at this stage there really isn't a good argument for keeping CTC vs outsourcing most of what they do at half the cost.
Just another so sad too bad explanation from senior management. They like to tell us how smart they are in an attempt to justify their position and pay. But where were all these smart people when this debacle was underway. I've seen the same talk year after year after a major project goes south with zero effort made to correct the real problems. Everyone better hold onto your noses we're going in.
@2nhl Nailed it OP.
MW and his cronies have no use for proven technology or career development, both take time and money that can be used more wisely for dividends and stock buy-backs. They want instant results. CTC management (led by future CEO EB) have fed SR all kinds of crazy promises and "can't lose technology". They all hope to get promoted out of CTC (or take a fat package) before all these false promises come home to roost. Average scientist or engineer in CTC? Dust off your resume, you're either going to get laid off, or you can orchestrate your departure on your own terms. CTC "alums" have been doing this for almost ten years now, which is why the caliber of CTC has been seriously declining.
Better fire up the resume. We're going to need it.
She got hit with some tough questions. The questions around the lack of investment in technology compared to our peers, why isn't management being held accountable when the rank and file will get beat up. Our management's greed is out of control!
Heard 25% cut
CTC deserves deep cuts. Over the years, we have lost focus from the Chevron way. Instead of being the leader in technology, CTC has become a showcase for lousy management, poor execution, and bad ideas.
To get ahead in CTC, hype up the solution - nobody cares about the truth, come up with rosy projections on cost savings, technology advancements and sell it to managers who want to be promoted as "do-ers".
They talk about psychological safety but actions speak louder than words. Telling CTC management that something wont work will not advance your career.
@1tpy+1pXLZM5e, were you the guy who gave me top at the Christmas party?
You will find that when there is bad news, the CEO lets someone else speak. This is nearly always true for earnings report meetings with analysts. When there is good news, the CEO is front and center, beaming with pride.
Doing you all a favor
A great question came towards the end on the PB negative email and accountability and EB simply refused to respond, but at least someone put it in her face. The better question had to be why this email came from PB and not MW who had been championing winning in any environment and being total silent, who leads this company, the CFO who is about to retire in 3 months or the CEO or other clowns who screwed up time after time?
30% head count reduction