Chevron buys land in north katy

[texsn95]

BP is doing the early incentive packages as well, and hiring has slowed down. OpEx in my group is cut quite a bit next year.

[SouthernBoy205]

Originally Posted by cockermom

Makes total sense and it's probably what the other major O&G companies will be doing as well. Just a matter of when. Any idea on what is deemed an appropriate age for early retirement packages? Is it 55 and older?

Late 60's, I think.

[ethanw]

Once again you're just clueless or in a bubble? Where are you in CVX, in ETC? ETC had a town hall this week. Layoffs (ROM) are taking place right now and their last day is Feb 1st-2015. Talking about 10-15% for now and if Siegele said something else is just pure PR BS. Use OneSearch for a change, really a great tool.
By the way in California (San Ramon) is a legal requirement to make layoff public if more than 50 people. Watch the announcement :-) And yes, retirement is part of the cycle, but not the fix.
[mod edit-rude]

Originally Posted by SouthernBoy205

Per our town hall meeting on yesterday, Chevron WILL NOT be laying anyone off. Instead, they will be offering people of the appropriate age early retirement packages. There is going to be somewhat of a hiring freeze, but over the course of five years, people, especially college kids, will still be hired (only less than previous years). This doesn't only result from the obvious (low cost of gas), but it results from the fact that major projects are not online yet; they're not producing a lick of oil at this time. Who knows what will happen in the years to come...

I've said what I had to say. If someone wants to challenge that, then ask the CEO of the company your questions.

[SouthernBoy205]

Originally Posted by texsn95

BP is doing the early incentive packages as well, and hiring has slowed down. OpEx in my group is cut quite a bit next year.

I heard BP isn't doing to great.

[cockermom]

Originally Posted by SouthernBoy205

Late 60's, I think.

Late 60's? Most would consider 65 (reaching up to 67 now) to be retirement age, so how would late 60's be deemed "early" retirement? Did you mean late 50's?

[SouthernBoy205]

Originally Posted by cockermom

Late 60's? Most would consider 65 (reaching up to 67 now) to be retirement age, so how would late 60's be deemed "early" retirement? Did you mean late 50's?

It's 65+. They're actually asking people to volunteering to get early retirement.

[JL]

Originally Posted by SouthernBoy205

Not on a hiring freeze to a certain extent (Chevron will be hiring more than 300 college hires each year until 2019, which 300 is the minimum number of college hires it can take; the number of experienced hires will decrease during that timeframe.) No layoffs...early retirement packages, maybe.

The rest is correct.

to be specific, they did some layoffs of their ITC group(ROM)...while others have to find other positions within the company...yeah, they are doing some college hires for ITC, but not quite nearly as previously. I can't speak for other departments or business units, but heard they are going through the same. And not only will some be forced to retire, but there are people in their 30s who could get the pink slip unless they find another position within the company. Not everyone is 60-65 yrs old who will be gone. A few years ago(4-5yrs), they had a ROM...a co-worker of mine was 47yrs old and had to take retirement...not old enough to really retire, but he was there over 20yrs. I suspect every 3-4 yrs, they will go through a ROM.

Originally Posted by ethanw

Once again you're just clueless or in a bubble? Where are you in CVX, in ETC? ETC had a town hall this week. Layoffs (ROM) are taking place right now and their last day is Feb 1st-2015. Talking about 10-15% for now and if Siegele said something else is just pure PR BS. Use OneSearch for a change, really a great tool.
By the way in California (San Ramon) is a legal requirement to make layoff public if more than 50 people. Watch the announcement :-) And yes, retirement is part of the cycle, but not the fix.
Man you got lots of growing to do. Good luck as you will need it....

Yep...my friend(37yrs old) is going through the ROM...his job is safe, but some others might have to look within the company for other positions.

[ethanw]

Not just ITC. NMA, SASBU and EBU already went through the ROM. ETC is next and many other Upstream , Midstream and Downstream SBU's and departments are following now and in 2015. There are NO packages and NO option to be left standing with retirement options. That right there is a very bad sign.

mod edit-rude

Originally Posted by JL

to be specific, they did some layoffs of their ITC group(ROM)...while others have to find other positions within the company...yeah, they are doing some college hires for ITC, but not quite nearly as previously. I can't speak for other departments or business units, but heard they are going through the same. And not only will some be forced to retire, but there are people in their 30s who could get the pink slip unless they find another position within the company. Not everyone is 60-65 yrs old who will be gone. A few years ago(4-5yrs), they had a ROM...a co-worker of mine was 47yrs old and had to take retirement...not old enough to really retire, but he was there over 20yrs. I suspect every 3-4 yrs, they will go through a ROM.


Yep...my friend(37yrs old) is going through the ROM...his job is safe, but some others might have to look within the company for other positions.

[swopoe]

What does ROM stand for?

[Oildog]

Originally Posted by swopoe

What does ROM stand for?

I don't speak Chevron but it may be along the lines of Reduction of Manpower.