Do you think Chevron will have layoffs coming soon? I don't want to sign a job offer with them right after college, if I am going to end up being laid off within 2-4 years.
I really love Chevron, but don't want to risk my career since its super hard to find a job just in general right now
cvx is a dividend oriented company which often comes at the expense of employees
so better think twice
No
When San Francisco Fire Chief Joanne Hayes-White retired after 15 years leading the department, she joined the ranks of a growing financial elite — the 139 former city workers collecting pensions of more than $200,000 a year.
Most are former police and firefighter brass, and some are making more in retirement than they did when working. And it’s not only in San Francisco.
More than three-quarters of last year’s retirees from the City of New York’s Fire Department (FDNY) were eligible for six-figure pensions, with 40 of them eligible for pensions over $200,000 according to data posted today on SeeThroughNY, the Empire Center’s transparency website.
A total of 491 people retired from FDNY during 2019. Among the 381 new retirees with at least 20 years of service, pensions averaged $139,785 and 326 (86 percent) were eligible for pensions over $100,000.
The largest new pension went to retired Assistant Chief James C. Hodgens, who was eligible to collect at an annual rate of $282,476 per year. The FDNY’s largest pension went to 2013 retiree Michael A. Vecchi, who was eligible for $316,649.
my advice has someone who spent seven years in field operations is not to do it if you have options. Has others have stated, this has been the most unstable company I have worked for. I made the decision to leave and wrote it off has an unwise decision to join the company. The name Chevron provoked a lot of thoughts has the best company to work for, great stability, good management, and it was in the past. Now, I've seen constant layoffs and divestments where the management never valued field hands who were the ones who make the money. It was extremely bureaucratic with way to many people above those in the field trying to justify their jobs.
Yes, we will, not like we are the only ones either.
Where do you live that firefighters can get a 200k / year pension.
Sh-t that’s more then chevron will pay.
If you want security, get a state or federal government job. No layoffs and the pensions are outstanding plus medical. Where I live firefighters can get a $200k annual pension.
There are lay-off every 2-4 years for the last 15 years.
It used to be if your were not a huge sc--w up you were fine. After this last layoff that was no longer the case. For the oil field chevron used to offer security but a little less pay. Now they offer less pay and no security. This is why 90% of the people I know who will open up about situations will tell me they will leave at the first available opportunity. The company has burned their bridges and never rebuilt them. People are done playing this game.
CVX consistently has layoffs every 2-3 years, it is just what they do. If you want job security and not worrying about keeping your job avoid CVX.
Chevron is setting itself up for another 100 years of providing Human Energy and to do that you need….well….ummmm..HUMANS! So if you qualify as a human you will be just fine! Take the job!
No 2021 layoffs. 2022 prices will be high, so expect hiring and expansion.
O&G does pay more than most industries, but some companies, particularly the smaller independents, have trouble weathering downturns. Chevron is in very good financial shape and less likely to panic and layoff huge portions of their workforce. That said, if job security is a concern, I suggest staying close to the wellhead as possible. Avoid capital projects in general and avoid manager’s “pet initiatives” (digital transformation, anything with Lower carbon, information science cr-p, etc.). Most likely cause of layoffs for Chevron is consolidations and mergers. I expect more of these as exploration investment has dropped dramatically. It’s way cheaper to buy someone’s reserves than to find new ones. I wouldn’t be surprised if we see a CVX and XOM merger during the next crash. Anyway, I know it sounds cheesy, but don’t chase money or the bullet proof job, chase something that is meaningful and enjoyable for you.
Typically in the past the further from the wellhead the harder the cut. If you have a degree other then something the ties you to oil and gas I would look elsewhere and in other industries. That is unless you just love Houston and this is the place for you. Then heck why not. But always keep your eyes open and don’t drink too much cool aid.
What if you have a Accounting degree? Do you think they lay off more of the engineers compared to the finance/accounting people?
Fake post by the Layoff police
Depends.
If your a worker then looks for a small company who appreciates a worker.
If your a corporate person who wants to mold to others and play the game then chevron is probable the best place (compared to other majors) to do that.
With that said chevron will pay 10%-30% less then other majors and 20%-70% less then independent depending on time in position. But keep in mind the bo-m bust at independents are exemplified. My husband made double my salary in one year but has been without work as well. In the end he still made more overall and has had 6-9 months off from work during some years. Those times are scary but you have to build your network so you can find work. Also keep in mind you need to save 50% of your salary in this industry as you will have years with no income, unless you are the exception not the norm, it’s happens to all of us. Don’t live paycheck to paycheck as it will catch up to you.
Right now the oil price is hovering around $80, there has be very little investment for the past 5 years and the demand does has been going higher, there will be a bust at some point, but for now it looks a good time to join the industry as long as you are mentally prepared for the bo-m and bust cycles. If you are petro tech, you hardly can find any better company than Chevron [overall benefits and lifestyle on the long run]. If you have other major, might be better off joining other industry for the long run.
If you have a petroleum degree accept it and keep your eye open for a small company if you a white and male
If your a diversity person you will do fine.
With that said if you are not petroleum then choose another career
Its a cyclical commodity industry with booms and busts. Layoffs are going to happen. Typically more common for the older employees though since they are more highly compensated. If you are a white male then you are at higher risk of being laid off.