What sort of layoffs to expect in the new year? 6000, and that is 10% of the work force, is not a small number.
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I've been told by a female that hears and talks all the gossip said moon and Smithfield will be letting go many.. The list is ready for the butchering ...enjoy the cool chevron Kool-aid while you can no worries your have more time to play candy crush
Depends... How many Chevron operators do you need to screw in a light bulb? Answer: More than you think.
970- you don't need as many people to operate as you do to build.
I imagine a lot will be from the Australian projects once they go online (hopefully sooner rather than later). Same with a few of the other big LNG & MCP projects that will be coming online soon or are in early phases and will be slowed down. The rest will be another round of ROMs. A large number of Expats (US and foreign) will be asked to go back to their home countries and may or may not have a job there when they get back.
Over 1200 leaving GOMBU in 2016
To Quote Watson, from analyst call:
First, just a general comment on the people reductions. One of the large areas for reductions is in Australia. As we ramp down these projects, obviously you need fewer people. That was known, and in most cases we had -- Australia has a provision for fixed term employees. So some of those people will be coming off the payroll.
Anonymous200958, why would they cut 4000 in Australia, unless they are shutting down Gorgon? Doesnt make sense.
Sounds about correct. That's where the 7,000 future severances will come from.
Let's see, about 1000 in SASBU, ~4000 in Australia, then ~2000 sprinkled everywhere else.
February 2016 is what I have heard from a knowledgeable source
OP, you are not not going to get any answers to your questions here. Contact your HR if you want any serious answers.
Anonymous200895, what a joke you are! Expats 3 times more productive than regular employees? You are either ill-informed and stupid or you have an ax to grind. I would be even surprised if they are even as productive as US employees. Idiot!
You better believe there are more layoffs coming in early 2016. As many as necessary to keep the dividends at $1.07 per share. But, there will come a time that firing employees alone will be counter reactive and the dividend will be reduced. In hind sight the company will realize they let go too many good workers. Our Executives are so off the mark, Exxon will be the O&G company if choice for energy investing.
Expats are also 3 times more productive than the regular US employees. They are definitely more value for money.
Chevron will impose Musical Chair Mondays every week next year to get rid of the 6,000 employees it needs to offload. There should be least some fun in all this by making it a game.
Get rid of expats first. 1 expat = 3 or 4 regular employees in terms of cost savings.
With oil price continuing in 40s expect lot more than 6000. You can do without all the excess fat, of which there is plenty. May be that should cut 50%. What is important is to keep the dividends coming.