Category: Chevron

Chevron Job Cuts: Employees Asked to Reapply for Positions

In an effort to cut costs Chevron is now asking workers to reapply for their positions. According to Reuters this cost-cutting effort is expected to result in 15% of Chevron employees losing their jobs. Chevron, the 2nd largest oil producer in the United States, is attempting to reduce spending after taking major losses during the

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Chevron Once Again Has Record Low Interest Rates

As a recruiter some of my clients ask me, “when would be a good time to leave my company?” Obviously that decision needs to be made based on an employee’s individual circumstances, but interest rates can be a major factor. Chevron employees who plan on leaving the company this year will be delighted to hear

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Will Chevron Stop Offering a Pension Lump-Sum Option?

The coronavirus has caused the oil & gas industry major strife over the last 6 months. However, corporations were struggling with their pension liabilities long before the pandemic hit. The number of Fortune 500 companies who offer a traditional defined benefit pension plan has dropped by 43% in the last 20 years. In an environment

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Will Chevron Freeze its Pension?

Chevron, along with most other oil companies, is in the process of trying to cut costs to help deal with the economic downturn brought on by the Coronavirus.  The pandemic hurt the entire economy, but it came down on the oil & gas industry especially hard. Chevron has chosen to conduct layoffs to try and

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Will Chevron Stop Matching 401(k) Contributions?

Chevron is in the process of cutting costs to help cope with the current recession caused by the pandemic.  Coronavirus took a toll on the entire economy, but it came down on the oil & gas industry especially hard. So far, most of Chevron’s cost cutting efforts have come from layoffs. According to Reuters Chevron

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Chevron? What Oil & Gas Companies Do to Save Their Dividends

Ever since the Coronavirus crisis took its toll on the Oil & Gas industry, Fortune 500 companies have been scrambling to protect their dividends and keep their shareholders happy. The results have been generally negative for workers at those companies. ExxonMobil has been in the news a lot recently for taking on cost cutting measures

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Is ExxonMobil Laying People Off Through PIP?

Earlier today Forbes & Business Insider confirmed the rumors which had been circulating within ExxonMobil circles for the past few months. It appears ExxonMobil, in an attempt to “cut more workers without using traditional layoffs” (Jones), has adjusted its performance evaluations in order to justify more job cuts. According to Forbes, “Exxon categorizes its employees based on their performance

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