@7myv, 100% correct and it goes back much further than 23 yrs. Also I will add, that is true for all O & G companies since the 60's. Feast then famine. The time between layoffs varies but they are inevitable.
So, in case you haven't figured it out yet young guys & girls, you're not special and you're not being treated any differently than anyone before you. Get over it.
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I have been with the company 23+ years. Within those 23+ years I have known of 11 layoffs, whether they are to right size, downsize, upsize, alpha, re-structure, re-org, functional transformation, or any other given name. That’s a layoff of approximately every 2.5 years. So hold your breath or not, layoffs are coming. Here’s some advice, never ever think you are safe and will retain a position.
Citi thinks oil will be $85 by year end and even it might get to $65 if recession is severe, so if that happens, most likely layoff will follow within 6 months WTI goes below $55.
Be like ExxonMobil and use the annual performance assessment group of needs significant improvement (NSI) at 5% this year, 8% in 2021 and 2020, to layoff employees, but call it performance related so that the employee is unable to collect unemployment. It is called cost control. 😂😂😂
Chevron needs to dump 1-2 entire layers of management. Wonder why we never move the needle on ‘simplifying’ the business?
Likely announced 2023 and finalized sometime in 2024. It puts us on our 4 or 5 year trajectory we have and lines up with upcoming recession.
I see oil dropping massively to maybe $50 in the next 6 months with the "everything bubble" popping.
deadwood was such a great show.
The layoffs should officially begin after the two top bosses in each BU have their chance to fight to the end in the arena. The winner dictates who stays and who goes.
Yes indeed he is on his way. Many of the people most subject to being cut are the ones who frequent this site and do other things instead of doing their job, not ironically, that's the reason they are here and running scared.
Axeman Axeman Axeman … he’s coming for you Deadwood @2bms+1hAthtbW
Chevron moves like molasses when it comes to layoffs. My experience, layoffs come no earlier than two quarters after bad financials start pouring in. That would mean no earlier than the end of the year, more likely early-mid 2023 when the US recession really kicks in.
Uh oh deadwood guy is back. He talks big about layoffs due to the deadwood he has. Medicine isn't working for that deadwood.
Anyone wishing for layoffs has real problems. Probably a red neck who enjoys making things worse for people.
The Axeman needs to start swinging to clean out the dead wood. And being this board back to life about LAYOFFS!!!!
It won't be long before the Axeman Cometh to clean out the "Deadwood". It is drastically needed at this point.
Got my notice today
Have you seen how much we are making??? No layoffs anytime soon. On the contrary.
Agree, hopefully soon. The volume of people who create busy work that contributes little to no value for the business and gets in the way of actual work that delivers results is astounding. The herd needs to be thinned and soon.
Hopefully soon being I come to this site for Layoff info! Come on MW….let’s start a new round!!!
Has the graduation rate slowed down for PE's and GEO's?
Could be soon
When the recession begins to bite and the oil prices start to drop.
We won't be able to enjoy this safety for much longer, I think.