How likely is that there will be Chevron layoffs? Any chatter, news or rumors?
16 replies (most recent on top)
Bye-bye 👋🏿
WTI stays above $70/BBL = rest easy, no more layoffs in 2022.
WTI < $50/BBL = gets your box packed, and your resume updated.
What clueless person would ask about layoffs here? Clearly it’s a gossip board about everything BUT layoffs.
A reorg would be unlikely. The Transformation was a disaster and management would be unwilling to repeat that, at least not in 2022.
There will be layoffs via PDCs. Basically, more “must moves” than available jobs. Especially as FGP and other projects ramp down. Also, more and more ExPat jobs will be nationalized or flat out eliminated, which will reduce head counts.
- you won’t see it coming B) you won’t find an accurate answer on this website C) get a life.
Both likely and unlikely.
I don’t expect layoffs in 2022, unless there is a major acquisition. That said, unless we can more some big exploration targets to production in the next couple of years, staff numbers will have to shrink. Expect management to declare victory on the transformation, allowing another reorganization in 2022.
Layoffs already happened, won't be likely for the next year.
Highly likely
@zuk+1dLcFPfJ
What's an example of a 'non-support function' in Houston?
Go work somewhere that really cares about their employees. There are tons of jobs available for talented workers (unless you are just riding the CVX payroll, then you better stay). This organization doesn’t give a cr-p about anyone but the executive pay and stockholders (which even as an employee it’s better to buy the S&P than CVX stock)!
We don't have to worry about layoffs until there is another large acquisition. They will create synergies (layoffs) and it will depend on the COC as to which company will see more layoffs. The company will not do another mass layoff unless they have to.
That being said, my understanding is that the non support functions are over staffed in Houston by 20%.
I'm assuming that the OP is asking from the US of A. Which is fair as big lay-offs have happened less frequently.
The ABU though has had subsequent rounds of layoffs and re-orgs every 18-24 months. As their business was shrinking they needed to continually trim down the (very bloated) organization.
Now that the US-based project queue is shrinking, the US workforce will probably see a similar cadence going forward as the c-suite seem to be OK with upstream production falling as long as the stock & dividend continue to rise. In a twist of irony, you might even see Upstream FE's running to DS&C for jobs.
This won't be true across all functions and will affect petrotechs and non-petrotech functions differently.
But MW said the last one was to position the company to "win in any environment". Why would they need more layoffs. He wouldn't lie to us!!
Chevron will continue to shrink and layoffs will happen every year for the foreseeable future. O'Reilly, Watson and Wirth have all said this same statement. This is not a secret.
I mean, we just had so many. and oil is $80. Maybe in small pockets of inefficiency, but wouldn't think enterprise wide