Are we about to start the year with a round of layoffs? I do not like the rumors that have been circulating lately...
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The Chevron contract support companies have made massive cuts in the last two weeks.
CVX does not do anything that quickly. Layoffs will happen 4th qtr 2024 or possibly 1st qtr 2025. They want to drag it out and lower morale, Hope some people will just quit and give employees time to digest the latest transformation jargon about how you getting laid off is what is best for the company because the company is all that matters not your family or life. Be happy for your coworker who didn’t get laid off it’s what’s best for CVX. Celebrate their success not your failures. This mantra was actually pushed by CBRES during the last transformation they made us watch a video about how we should be excited about our coworkers success when we have none.
CTC is the fatty target. Starting with CTV then trimming the CTC fluffy fat by end of 2024. They picked Indian Bellaji to accomplish the task.
In 2022 Exxon earned about $900,000 per employee while Chevron was closer to $800k/pp so you can do the math. We need a 10% cut just to catch up.
Couldn't happen that quickly. Management, HR, and Legal need about six months to organize a layoff. Look for something next Fall, announced as a strategy to cut OPEX.
Everyone knows they will be offering packages soon...and layoffs later in 2024
Ask the Axe Man
Hopefully we get some layoffs so there’s something worthwhile to talk about at this bulletin board.
We desperately need new Senior management. Things have been a disaster since the dysfunctional transformation to win initiative. Mike went one layoff too far and destroyed the morale and OE of the company. We are already not only lean but starving in many areas of the company. If we do another layoff the company will be finished. The BOD needs to retire MW so we can get someone new in with ideas beyond layoffs for growth.
This place isn’t functional as it is. Drop 5-10% and we’re talking catastrophic. Unless it’s all ctc, then literally no one notices
The requirement to be in the office is phase 1. Free layoffs cause 5-10% will quit.
Phase 2 likely September or October. They need to give WARN notice.
I mean I would be absolutely stunned if there weren’t huge cuts to bottom performers. Refer to CFO’s letter to the employees.