Thread regarding Chevron Corp. layoffs

XOM vs CVX earnings

XOM report a Q1 profit of $1.8 billion vs CVX a Q1 loss of 725 million

'nuf said ....

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XOM and CVX are actually not looking too shabby both with stock price and dividends lately but I wouldn't hold my breath. The storm is not over as is evident today and on each day on the market. Why are you guys so asshurt on the companies that you work for anyway? If you didn't like O&G and it's volatility you shouldn't have gone into that field. There's not a big difference between the top majors including CVX XOM, Shell. etc. Boone Pickens picked Chevron as a better bet if that's worth anything. But that could also mean that they don't mind making crucial cuts to stay solvent. Good for some, bad for others. In any event -Hang in there. If you are a solid, dedicated hard-working employee you will find work in some field. You have nothing to worry about.

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CVX has been sinking $50B+ into Gorgon and Wheatstone and it is questionable whether these two projects will ever make a profit. In the meantime they are laying off talent and knowledge, yes, these latest cuts were not low performers, which will hurt them when the oil prices rebound.

Don't forget that laid off employees cannot be rehired for 36 months or they have to pay back part of the severance. What a stupid rule. They will all end up with other operators instead.

In the meantime drill ships are idled at full day rate ($650k) because there is not enough cash to proceed with drilling operations.

Now would be the time to contract idle drillships at $250k/day and drill more exploration and appraisal wells.

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, Do you work for XOM, or are you just some butthurt loser who just crybabies all day online because you can't get a real job and you just talk out of your A$$?

If you do work for XOM(or CVX for that matter), get the fvck back to work and STFU, my dividends depend on it.

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XOM has the world's largest and most profitable petrochemical company as part of its portfolio and it is 100% owned and operated by XOM. Contrast this with CVX who put its chemical assets in a non operated JV. XOM does not need to layoff upstream employees because it can shift this talent easily into downstream and chemicals. When oil prices come back, the talent can easily move back to the upstream. Also refining and chemicals are integrated into very large common facilities such as Baytown, Baton Rouge, Singapore, and Brussels/ Antwerp. This reduces Utilities & overhead like HR and IT.

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The OP is quite the Butthurt Market Genius loser.

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Chevron's portfolio is more heavily weighted in upstream than Exxon. When oil prices are high, Chevron out-performs Exxon...but when prices are low Exxon's downstream and chemicals businesses are a more effective hedge than Chevron's.

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You don't have to be a regular market genius. Just use use common sense. The OP's post was meant to draw the contrast between XOM and CVX. There's no need to be the constant comedian all the time unless you are the regular market "idiot".

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Yes, This guy is a regular market genius.

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This is a deep post, must have spent some time getting all your research done

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