Thread regarding Chevron Corp. layoffs

Divorce(s)

Boy the OP is really full of her self! Lots of cheek that one. Given she likes to give advice to others, may I ask why she does not quit and dedicate her life to solving world pease or climate change. Don’t be selfish dear.

OP again. These ad hominem attacks are a joke. Ya’ll can do better.

I’m not a lady, but agree with the poster below on finances. If you’re a 21-22 you should have 1.5-2MM net worth or more before you’re 40. Even more if your at higher grades. If you’re way behind and haven’t suffered a major setback like a divorce, you may want to rethink your lifestyle.

@Annie Nom. OP here. “Listen Sonny”? Ok gramps. I guess you didn’t see my previous post. Everyone on this site keeps thinking that posters are exclusively men. I will reiterate: women work at Chevron. Wake up boomer. Women can be just as selfish and troll just as hard as men. This selection event is inherently selfish. Every person is out for themselves - as they should be. In my post I was trying to give a different perspective. All the olds on this site are constantly bashing millennials as selfish and entitled. I’m telling you I that there are plenty of millennials who think of you the same way. Think of it as me “growing your capability” of understanding different perspectives. Yes, we need some olds to mentor the young. Some of them have mentored me. We do not need a legion of people who will retire in 3-5 years. We will not have a functional company when they retire and nobody is left to do the work. At work, I keep my thoughts to myself. I’ve always been known as a joy to work with. They will not be getting rid of me because I’m some horribly nasty person. I see lots of racist and s-xist posts on this site. Just think, 85% of those people will have jobs regardless of what anyone thinks of them. By the way, if you’re in you’re in your late 50s or 60s and you are not a multi millionaire then you are the one driving down the stock price. I’m in my 30s and already have a couple of million in assets. Why can’t you do something as basic as figuring out your financial life? Also, I’m a consistently high performer and I might displace you. Watch out!

When I tried to retire in at 55 in 2014, instead they offered a promotion. In 2016, i offered to retire and they promoted me to keep me. Now I indicated I want to retire and they promoted me...I said no, so they double bumped me to keep me. They keep giving out golden carrots, and now I need to stay 5 years to get my 5 year avg up. I guess I will retire at 65 instead of 55. Good thing I like my job and I am very good at it and no one is ready to replace me. They have a lot of flexibility to bend the system for those they want to keep AND those who are working on big important things, that make lots of money

Listen sonny. You don't seem to recognize that people are individuals who have had differing amounts of pay and have had varied expenses over their careers. Is it fair or intelligent of you to put all employees in their 50's and 60's in the same financial category???? Some employees may have started later in their careers for instance.

If you are an employee, I am convinced that you are bringing down the stock price my friend.

Grow up @1qej. One million dollars is enough money to retire on very well, if by the time you have your $1M, your house is mortgage free, you are debt free, are drawing social security, and lastly you live within your means. Now if you’re also drawing a Chevron pension annuity check, better a retirement you’ll have. The $1M nest egg is your security blanket.

I am one of those that were taught by the old guys that refused to EOI. For one reason, it is not for money anymore. It’s ownership, it’s pride and it becomes life. Some of them don’t know what they will be doing if they retire. They just want to continue working until they can’t get up anymore. And they don’t care about you young folks because they earned everything they have. They never think they will EOI just so they can make room for you. They think, if you are competent, you will make it regardless.

OP: the door is open for everyone to leave, including you.

Mixed reason for many, some enjoy their work and that's what they prefer to do...others somewhat related don't know what they'd do with themselves, but still their choice if staying/working is more content. Older folks don't owe the younger crowd anything, but could be consideration if stagnant. Also, only folks I would 'encourage' for EOI would be those with many years, bucks, etc how whine and complain all the time and aren't too productive, but usually those see the door during cutbacks.

@1pwm, Fellow millennial woman here, (unfortunately I fall in with that miserable group). what in God's name do you think the "boomers" have to wake up from? Their wealth just to please the likes of you? Their comfy jobs that they love and take little effort since they have been doing it for so long that they are on cruise control and they can just sit back and collect easy money? They are probably laughing at you and me, all the way to the bank. You should wake up, lol.

OP here. Interesting to see how everyone seems to think I’m a man. Women actually work at Chevron. Wake up boomers. I actually have a huge amount of money in the bank. I just think I deserve to earn more ;)

A million is not much in this day and age. I could EOI but would rather work a few years more as I have a few projects in the fire I would like to see to the goal post. To me severance pay is almost irrelevant, because my salary is less than half my total compensation. Some day you might understand (if you are lucky) that’s there is enjoy seeing the job well done and successfully completed. Compensation is the reward, no question, but not everything. Good luck everyone.

By the time you are ready to retire you have what you have. You will just adjust your standard of living accordingly. It is quite a relief to know finally what the design basis is for your twilight years. Just enjoy at that point.

OP. What about you? Why don’t you EOI and get a job somewhere else....that is something you can control. Don’t make the decision for someone else unless of course you are a job owner or part of a selection team.

Just being a "millionaire" is not as stable as you think, even without much debt. It was 20-30 years ago. Not today. Many younger folks are already multi-millionaires (30's, 40's) who applied themselves and also invested well after the recession. Particularly West-coast. If you posted the question in a financial forum- I have a million invested, or net worth(that's even less to work with) and I want to retire in most cases the advice would be - No, keep saving, especially if you're relatively young. You don't have quite enough yet for all sorts of reasons.

Well, many older employees are not as wealthy as you think, to begin with, because of debt from earlier student loans(I had one), paying for children & their various needs & expenses, medical expenses in many cases, you name it. Also now since the ACA messed up normal insurance plans, those with even a modest pension or other income have to pay through the nose for health insurance, after the Cobra grace period is over. Staying on gives you a few more years of better insurance at a good price. It's not as simple as you stink.

Hired just out of school, 30-40 years of dedication, who wants to start over looking for something new???

Why EOI and you can MILK this gravy train :) Remember usually the CVX people don't have any balls so they can't even make a decision to EOI and retire.

Employees cannot EOI until the job application Period begins. (unless there is a special case ) Have you actually talked to them? I have and many of the late 50's / early 60s boomers are going to take EOI, So what is your sample size? It very personal decision based on myriad of factors, plus they may get left standing and get severance. Bottom line most people don't give a you know what about you. okay, Didn't your Dad tell you these facts of life?

Young guy here and unfortunately i don't share the same views about the OP. Firstly, People posting on workplace should EOI not the 50/60s.
Secondly the reason why we spend four days on a powerpoint is because our boss prefers arial 11 compared to times new roman 12 so they can take the powerpoint up to their leadership to peacock.
But in all seriousness OP is entitled, daddy probably cut him/her off from the family trust and now can't afford chino shorts and loafers

Young guy here. Had this discussion with a senior mentor. Org has a handful of late 50s or early 60s people that would be happy to retire. However, they are worried about the combined impact were all of them to retire at the same time (mentoring younger employees, championing technical staff, etc.)

It sounds like one or two of them may not take the package out of a sense of obligation to these people – instead retiring one or two years later once things are more "settled." There's not much of a financial benefit to delaying for such a short period.

This behavior bleeds empathy and should be commended not criticized. As a young person with much to learn, I worry about a Chevron without these people.

Honestly? “young people are being screwed?” Sounds like you grew up being entitled as the reputation of your stereotype generation has.

I’m not sure what makes you so much more valuable. Honestly, your the least experienced in the group, as a result, you should be the first to go.

What value are you going to bring?

One thing you should learn, if you haven’t already is that life isn’t fair.

Good luck man!

The problem is the industry hired too many people directly out of school and The Great Crew Change did not happen as planned. But it is cyclical and soon we will screaming that there isn’t enough talent in certain areas. The cycle happens at least once a decade.

“ Young folks could be totally screwed if they don’t leave” - wow! Entitled much?

Guess what, buttercup, nobody ever promised you a rose garden.

Your comments really struck a chord with me because they perfectly exemplify the sense of entitlement and self-absorbed view of the world that - stereotype or not - I encounter time and time again with younger people.

Read the comments on this post. Ask yourself whether there might be people whose lives you know NOTHING about and are assuming they SHOULD give up their livelihood for you. Who do you think you are? Do you seriously think the older employees owe you something?

God help us - if your mentality depicts the prevailing attitude in younger employees, and you ever are put in a decision-making role (e.g., staff a team, participate in job selection, etc.), older employees, no matter their qualifications, don’t stand a chance. Guess what, buttercup? That means that you are someone who would have no qualms discriminating against older people. How would you feel if it were done to you? Really reflect on that.

As for the original question about why someone would stay, there are many reasons that the other respondents touched upon - I will add that sometimes people have challenging and financially burdensome situations for which they are responsible (e.g., a parent or spouse with Alzheimer’s; a special needs child; bad investments; etc.). Never assume to know what your colleagues are dealing with - not everyone’s life is puppies, rainbows, and butterflies. Grow up. Yes, that’s harsh, but sugarcoating will not help you face your appallingly self-absorbed attitude. #SorryNotSorry

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You seem like a great mentor to the younger people. I am surprised they did not reward you for that. This skill should be a great resume item for your future job search. Good luck.

Maybe they’re living their lives for themselves and not for you. Wow!

We all have different goals and financial obligations and you don’t know what everyone else’s situation is.

I’m in my mid 40’s. I’ve only worked for chevron for 10 years. I don’t have as a big of a nest egg as I probably should at this point in my life.

I know if I leave I probably won’t find a job paying as well, however, I also feel like chevron is holding me back. I think I can accelerate my career much better working for myself than someone else. Besides that, I’m tired of watching these kids 10-20 years younger than me trying to give me advice on something I’ve been doing for 20 years. I am tired of watching them spend 4 days on a power point that should take 2 hours and then getting all kind of praise for work they did. When in reality, I was guiding them the whole time. Recognition, isn’t always pointed in the right direction, or rewarded correctly for that matter. Sometimes it feels like it is more of who you go drinking with at night than what kind of real value you bring that matters. I’m just tired of it.

I’m going to EOI. That $ will help me through my first year of self employment. Now’s as good a time as any..... I’m not getting any younger.

My advice is to be your own best advocate look after yourself. Chevron sure does.

I think for some of them it’s probably not knowing what to do next, even if they don’t particularly love their job.

Many reasons. Paying child support, wives/husbands maintenance costs (botox and chanel isnt cheap), ex-wives monthly allowance, sugar daddy-ing, paying the mistress... List goes on.

This has to be a wind up! Is this kid for real?

I'm 62 years old and I am taking EOI because that is a good choice for me and my wife. I don't feel obligated to give up my job that I've been dedicated to worked hard at just to make way for someone younger.

How about worrying about your own career and financial responsibilities. Do you really think Chevron cares about your development as much as having someone that is proven and isn't self entiltled?

If chevron really wanted those 50’s and 60’s folks to EOI they would not have capped the severance payout at 1 year. Seems they wanted the younger folks to leave by giving out a rare 3 weeks per year severance package.

This is an immature post. Those oldies survived 5-7 difficult layoff cycles in their careers before this one. They have diligently worked hard to add value for Chevron for decades. They have earned the right to chose their own exit strategy and exit timing. Don’t focus on what others can do for me. It is what it is, we are going through a rough time. If you stay with Chevron, how many more similar rough times will you go through? Ask the oldies, they will tell you 5-7 more in your career. Better get use to it.

People may actually enjoy their job or at least working. It’s not their responsibility to “save” you.

Enjoy your second/third homes! Enjoy your grand children! Leave now! Why stick around?

Physical health is key. I don’t understand why people think they’re going t live forever. Live your life now!

There are many reasons people continue to work when they can obviously afford to retire. It could be they really like to work. It could also be that there is more money to be made if they continue working until social security. At late 50’s/ early 60’s if you leave you might never find another job that pays that well. Mostly they are not concerned about making room for the younger generations to move up.

What they are forgetting is that we as humans don’t live forever and a person might as well retire when they still have good mental and physical health.