the next round of layoff (6000-7000) will cut deep. since pretty much all 3s and -2s are gone it is now time to cut he bottom 20%. sounds a bit like Exxon, doesn't it.
11 replies (most recent on top)
What will happen when friends and family are broken up, and grandmothers laid off! What a disaster for Bakersfield!
Chevron stock down $4.57 and sinking. Not yet at its recent $69 low, but give it a few more weeks. That 20% cut is coming fast.
That 20% cut will be coming very soon. Oil not expected to break $50 in 2016. Brent oil down to 6.5-year low and WTI is around $38 today. Chevron stock is down almost $3 today. Sign of the times for the energy sector. Save your money and don't plan any large purchases. Hard times are coming.
OP, cut deep? Where? Chevron never seems to take some serious action. Always doing this drip-drip incremental thing. Bad for morale. Should go ahead and cut 20% and be done with it. Good for employees, shareholders.
2kjh, maybe I can get the company to give you that early retirement accommodation you seek.
@EMP, that the purpose of the transition plan I mentioned. Give those with years of knowhow time to share with the upcoming folks. It could be 3 months, 12, 18. This type of knowledge transition plan should be part of our culture anyway.
Yes, it does benefit me to have folks retire. I plan to retire early and spend a couple years brain dumping and mentoring.
@1okr - You propose those at or near retirement age should be forced out to make room for the younger folks. Just who then will mentor and teach the younger folk, if the experienced worker is forced out? No one should be forced out because of age. Keep the best performers and toss the unproductive, that's all. I bet your opinion serves to your advantage. Just remember that you will be approaching retirement age one day.
2016 will definitely be ugly. Some bad will be cut, some good will be cut. There will be buddy buddy situations that poss people off. There a few low performers I know of that are somehow still around. It is what it is. Those at or near retirement age should be forced out with a transition plan and decent package to make room for the good younger folks to be kept around.
Everyone should have their resume up to date and start networking for jobs.
Unfortunately what some consider the bottom 20% is not always so....it is that way in all companies. Human nature and perception!!
Chevron is full of husband-wife, father-son (and other types of) pairs. A veritable den of nepotism!
A lot of the 1's and 2+ put their hands up to leave. Especially the ones not in the friends and family program.