What is going on with all the budget cuts we are having? Transform to Win was supposed to be the painful cut and layoff that would make is lean where we didn't have to have more painful cuts later. We have delivered a lot of value to the shareholders already. Is there any other lever that management has to pull to grow the company other than cuts for the employees?
11 replies (most recent on top)
I just cut one….
Seasoned Chevron managers pad their budgets sufficiently that minor cuts don't impact them. They get to spend what they planned, but have excuses for missing targets ("funds were pulled!").
There should be no layoffs outside of cutting executive pay. We are already lean and delivering plenty to the shareholders. Time to try something different.
Layoffs will be announced for 2024.
Contractors have already been cut in a lot of areas. Its insane considering all the he ll we have been through since transformation. I think we need some cuts to MWs pay.
The billable hours system in CTC was supposed to demonstrate how valuable CTC is to the organization. What it has shown clearly is that perhaps 25% of CTC is actually valuable (legitimate high bill-back rate), the rest are just time-sheet frauds and clueless Ph.Ds. As Upstream slowly contracts, CTC will follow. EB will lobby MW to make those cuts before she takes over as CEO, or maybe she's witnessed enough CTC charge-back shenanigans to make the cuts herself?
One thing I learned, CUTTERS WILL (how do I say this) CUT!! Always have and always will.
NEXT!
When I worked in CTC I always had 100% billable hours. Every job I estimated I would just double or triple the time estimate. I would be billing at least two customers at once, sometimes when I wasn't even in the office!
They are requiring 70% billing hours in CTC. That is a sign of layoffs to come. They will cut the ones not reaching the min target.
I am cutting class right now
What employees are being cut right now?