TheEternalOptimist said:
Dan Scott said:
There are 127 job postings at Chevron.
9 in the USA
73 in India
19 in Argentina
This is RIDICULOUS ^.
I work for SAP. And if I leave my job.... my replacement will be in India or the Philippines. They will not hire for my dept in the US, Canada, or Western Europe anymore.
Companies should have the opportunity to reduce, significantly, their corporate tax burden and payroll tax burden, by keeping employees here at home in America.
The offshoring of personnel is a direct result of corporations being required to squeeze every bit of profitability out of their operations. Make records profits and have tons of cash to invest? Cool. But you didn't beat your competitors TSR, so now you have to pull levers to meet the expectations of Wall Street. How dare you use that profit to, oh I don't know, invest in exploration activities to replace reserves instead of buying back stock?
The company used to speak about free cashflow and net profit. Now they only talk about total shareholder return due to lack of investment, which can be pointed squarely back at the nonsense green initiatives that were all the craze for a while.
Capitalism is good no doubt. But arbitrary metrics of growth that determine a company's "worth" leads to this type of behavior.
And no, Trump won't fix this. His policies, while good for energy independence, are actually contradictory to O&G profits unless they truly remove a lot of excess and overburdensome regulations. But even then, the net result is more product hitting the market, resulting in lower commodity prices further squeezing margins.
And no, Chevron isn't hiring all these people back by the end of the year. They are offshoring a lot of positions and will continue to do so until the average American employee is as cheap as offshore labor for routine tasks. There's a lot of redundancy in the company, and they're trying to standardize and streamline as much as they can. Not saying it's the best idea for American jobs, but it's sorely needed from an operational and executorial perspective in most functions. Lots of old timers that can't learn new tricks fast enough to pivot and adapt to things like AI, or still can't bring themselves to actually trust their employees to make effective decisions in an expedient manner without a lot of meddling.
