The headcount reductions are going to be large with this news. In 2014 we had 60k employees. We had 45k at the end of 2018. Those numbers are from the annual reports. We shrunk 25 percent without company wide EOIs. What are the headcount reductions you are thinking? I was thinking 10 percent before the email. Now 15, 20, 25 percent?
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They need to go faster. No excuses.
I can’t care less. I’m ready to retire. Just waiting to see if I get a sweet parting gift from Chevron before I call it quits. I’ve grown sick of Chevron already and thankfully able to retire comfortably. Good luck to everyone still having to work in this crazy house.
The Whole purpose of the EOI is from lessons learned from last time. Their were many divisions not affected by ROMs, but had employees who were willing to be laid off to make room for those who were who ended up being let go and wanted to stay.
I like the way they are doing it this time.
The EOI is fir north America only. That would possibly encourage somewhere between 500 to maybe 750 folks to walk away with golden handshake before the bloodbath starts to kick additional 3000 to 5000 out. Good luck to everyone, very tough times ahead.
I use to be a young and productive go getter, but now im getting ready to mature into deadwood in preparation for my volunteer severance in 20 years time.
Thank you for giving me something to look for you dinosaur of a company.
Yawn. Heard that one already, @iem exact same BS story but from a completely different poster on a different site. The same old laid off loser type with no life or no prospects trolling layoff sites but "all rich and independent" ultimate skill level, better than everyone else and everything. Yea. everyone here believes you. sure. keep telling it. Maybe you should go on an ultimate-highly-skilled persons reality game show - lol, Yea, that's right.
yawn.
I left CVX in 2008 after 25+ years and it was best decision I ever made. Went through a dozen reorgs at Uncle Chevron.
Was not in “mgmt” but a well-regarded SME.
Other companies were very happy to pay me a much better salary and much higher bonuses for doing the same job that I did at CVX. As a well-regarded SME, I made it to equivalent of Chevron PSG 28.
Recently retired with a very nice voluntary package, formed a consulting company and I’m getting as much work as I want at $2500/day plus travel expenses.
So yes, I was highly paid while working and still highly paid in retirement. Two years of pay - plus vesting in all LTI stock ( shares not options) - to quit work!
I don’t need to work another day in my life but still keeping my skills improving.
Can I redeem my challenge coin for an extra posting in the selection event?
J & J will be handing out Kool-Aid and Sh!t Sandwiches at their special event tomorrow. Make sure to smile and act like it’s delicious.
How is it after large reorgs in recent past that CVX has large numbers of
1) highly paid folks close to retirement and
2) middle- and low tier incompetent losers?
The answer is that the incompetent losers are the ones who make all the decisions (aka, Chevron management/ leaders (supposed leaders, ha ha ...). Same cohort that:
1) made bad acquisitions and then mismanaged them,
2) invested too much in the wrong projects and then screwed up major projects with severe underestimated project costs,
3) got rid of the wrong people in last “reorg” and
4) hide behind BCG and Microsoft for this latest “transformation.”
Chevron managers always do the old bait-and-switch with consulting companies like Deloitte, McKinsey, BCG.... If consultant does a good job, mgmt takes credit; if not they can put blame on consultant. Nice gig once you get into the club.
The list of doomed upstream SBUs should take us down to 25K employees. The re-org will get us down to 15-20,000 max.
I agree! I was thinking minimum 10% before the email, but if they are opening up the EOI to EVERYBODY in the US, their target must be HUGE. Over the next several years, a 20% to 25% reduction would definitely help claw back some of the billions they will be overrunning on TCO.