Let’s be realistic. Most of the people working at Chevron have other options in terms of finding another job. If they refuse to pump up the pay so it is aligned to the inflation and the rise of living cost people will leave for greener pastures.
I can’t believe they are not aware of that fact. It’s one thing when some people leave or some layoffs occur, but when a lot of people leave at the same time that can hurt the company to a degree that it might lose a lot more money than they're saving by not giving people decent raises.
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@5irq, How is that legal, you ask? Answer: The government makes the laws. Simple. I don’t like it either, but what to do? Move away to a deserted island, I suppose.
With they used the property tax number to calculate raises. My taxes go up by 10% every year even though it was voted in for a 3% cap. How is this legal?
Do your homework. A lot of E&Ps in unconventional plays offer very competitive cash bonuses and stock benefits. The post 2008 Chevron pension isn’t what it used to be. Do an annuity calculation to compare your pension to early career stock benefits and I think you’ll be surprised. Image getting stock in the fall of 2020 :)
Truth be told, if the pay doesn’t keep up, people at Chevron will still stay. Easy money is why. Very little accountability and this company pays more than most any other if you quit. Aren’t you aware that more than 70% of those who quit their jobs during the ‘Great Resignation’ regret their decision?
Chevron could keep up by offering stock. That would be a decent way to meet the workforce where they are regarding inflation and the job market.
No they won’t.
Promises, promises. Big talk … let’s see you walk.
Chevron always has and always will pay competitive with the industry. This includes base pay and bonuses. You can leave, but don’t expect a big salary increase.
There are not many jobs out there for petro tech folks. The inflation bites pretty bad but do not expect the company to bear the costs and help you. Also I doubt people leave in mass for other options, what options? If you are IT or HR or legal maybe, other than that forget about it, there are very few openings and the pay is at best the same if not less.
Most people who are leaving now or withing the next 3 months are doing it for better work life balance not for pay.
@Asq - Check out Confessions of an Unconventional Petroleum Engineer on Amazon Kindle. You can get it on the kindle app for iPhone. Decently written but spot on with regard to the reduced headcount required in the future with respect to the factory model. Why do you think the rig count has exploded in the last 12+ months but there’s been no associated demand on office based D&C people. There’s been job postings for sure but nothing like you would expect with a doubling of rig count. If you are younger than 35 or so you better be prepared to start a second career by 2030.
MW doesn't care about any employees period. All he cares about is increasing the dividend and share buybacks. He wants to buy a new yacht!
The transformation was HR little experiment to make anyone since person replaceable.
See they moved everyone’s job. While they did retain and place some of the best people in roles that could be there they showed the employee the everyone can change out and Team Leads and go back to individual contributors.
They are also tracking every file on your computer and monitoring everything you do so they know where your files and how you do your job. This makes them believe they can train AI to do your job. This is happening across the board and can be seen in some areas if you pay attention. Look out at west Texas, factory model, everything is standard, eventually you will need a fraction of the people to do the new stuff out there. You will need operations and work over people to solve the issues but the new stuff will all be boiler plate
They company does not care about you, they care about profit and they are setting up they system that will eliminate us in the future.