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Posts Tagged ‘Chevron’

Some numbers to start your day and it’s not pretty.

The coronavirus pandemic, social unrest, and a scarred economy has created a tipping sentiment toward many jobs NOT coming back.

According to a Harley-Davidson press release, “The ReWire” strategy will now eliminate 700 positions globally of which 500 of the layoffs will occur this year. It will result in a $50 million restructuring charge in 2020, including $42 million in the second quarter. According to new Chief Executive Jochen Zeitz, getting the company on “a path to winning” also includes CFO John Olin leaving the company effective immediately.

Flashback – remember this abrupt CFO departure in 2009?

Some news outlets have reported Mr. Olin’s departure as a “retirement,” but color me skeptical since most retirements have a longer celebratory departure than immediately exit through the door. The current VP Treasurer, Darrell Thomas assumed duties as interim CFO until a successor is appointed.

I’m not sure why, but the CEO press release declaration of “a path to winning” reminded me of that time Charlie Sheen was winning HERE … maybe I just needed some humor?!

Harley-Davidson is not alone on the layoffs.  Below are just a few of the latest examples:

  • Macy’s announced it would lay off about 3,900 and shutter stores
  • AT&T will lay off 3,400 and shut down more than 250 stores.
  • Hilton Hotels announced it would lay off 2,100 corporate employees amounting to 22% of its corporate workforce.
  • Chevron announced it will cut 10% – 15% of its 45,000 global workforce.
  • Boeing announced it would lay off nearly 7,000 employees.
  • Uber announced it is cutting 3,700 jobs (14% of its workforce), then a month later announced they will cut 3,000 additional jobs and close 45 offices.
  • Airbnb announced it is laying off about 25% of its workforce, or 1,900 employees.
  • Virgin Atlantic (now part of Alaska Airlines) announced it would cut 3,150 jobs.
  • Hertz plans to lay off 10,000 employees.
  • Under Armour announced that it will lay off about 6,700 employees.
  • United Airlines will send layoff warnings to 36,000 employees — nearly half its U.S. staff.
  • ZipRecruiter laid off 443 employees.
  • GE announced it will be reducing approximately 10% of its aviation unit’s workforce, amounting to about 2,500 employees.
  • Cirque du Soleil announced it is laying off 95% of its 4,679 person staff.

You get the point.  Sadly, a lot of employees are expected to exit various organizations. In fact, since February, about 4.6 million Americans have stopped actively looking for work, and another 2.2 million are unemployed NOT on layoff.

And, then there are those companies that have taken an extremely tacky and classless route of laying off employees via Zoom.  Looking at you Bird, the electric scooter company, who laid off 30% of its staff via a 2-minute Zoom call.

Talk about a Nobel Prize-winning way to “Put a Bird on It” — From the “Portlandia” TV show.

Photos courtesy of Harley-Davidson, Great Art and IMDb.

All Rights Reserved (C) Northwest Harley Blog

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“Forgive me, I must start by pointing out that 3-years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that’s wrong,” stated Charles Ferguson as he accepted the Oscar for the documentary movie, ‘Inside Job’,  which explored the financial crisis of 2008-09.

And now a word from our sponsors – JP Morgan Chase, who ran a series of ads during the Academy Awards promoting and defending its’ small business and home lending practices.  At one point an ad even stated they would reconsider small business loans for those denied.

Talk about a ballsy “green washing” campaign and a bizarre spectacle to say the least.  It’s similar to when BP donated money to America’s WETLAN Foundation (a shell group established by Shell oil) who then partnered with a group called “Women of the Storm” to spread the message that U.S. taxpayers should pay for the damage caused by BP to the Gulf Coast.  Nowhere in the star-studded “Restore the Gulf” campaign is BP ever mentioned, but when this situation was ‘outed’ by the press – Shell along with primary “sustainability” sponsors Chevron, ConocoPhillips, Exxon Mobil, Citgo, British Gas, Spectra, Hornbeck, the America Petroleum Institute and BP – stated that the funds were for “purely scientific or ecological functions.”

Words matter.  The most powerful words have helped launch social movements and cultural revolutions around the world.  The right words at the right time can literally change history.

Harley-Davidson management could really teach JP Morgan Chase and BP a couple things about public relationships.  They understand that words matter and it’s not what you say, but it’s about what people hear.  The Global financial meltdown cost people their homes and jobs.  Many families were seriously hurt and like we now want to hear JP Morgan Chase defend their actions.  What the hell happened Mr. James “Jamie” Dimon?  You can’t be serious!  It’s clear that JP Morgan Chase could learn from Harley-Davidson who more than ever these days live the following phrases with their customers:

No Excuses” – Of all the messages used by American business and political elite, no phrase better conveys accountability, responsibility and transparency.  This phrase generates immediate respect and appreciation.

Uncompromising Integrity” – Of all the truthiness words, none is as powerful as “integrity,” but in today’s cynical environment, even that’s not enough.  People need to feel that your integrity is absolute.

If you are not enraged by the JP Morgan Chase advertising activity then you’re not paying attention.

Photo courtesy of Wall Street.  Mr. Ferguson further explains his Oscar comments HERE.

All Rights Reserved © Northwest Harley Blog

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Meetings.  Talking.  Meetings.

We’re always being reminded that political leaders, policymakers and industry leaders are “gathering” to hash out ideas on how to get the mojo back and what the key is to unlocking innovations and jobs of the future.  We’re suppose to feel good, but from my vantage there is little visible in the way of action.

The White House has made a quiet but extensive effort to reach out to corporate executives in a series of dinners and lunches at the White House with President Barack Obama.  Attendees have largely been kept secret or at minimum very quiet… until now!

Politico.com states Keith Wandell (Harley-Davidson CEO) had dinner with Obama’s chief of staff Rahm Emanuel and other top White House officials.  Another comprehensive list is available HERE.  It’s not clear if it was at an off-site local restaurant or something more elegant in the White House.  Given the state-of-the-states, I seriously doubt the motor company will be creating any new jobs soon. In fact, the recent ratified agreement calls for a drawdown of nearly 50% of the employee’s base at the York, PA operations.  Asia or India look like expansion alternatives and I suspect it won’t be long before we hear about plants being set up there.  So, what did Mr. Wandell share w/ the White House chief of staff?  Would H-D coming to the government to offer ideas on how they can help be a startling conversation changer?  Does H-D have eyes and ears on future trends that they can grab and then be able to exploit?

I’m not sure, but do you think the U.S. is still the world’s center for innovation, or is it falling behind countries such as India and China?  Fueling the debate is a new poll on innovation published by Newsweek. One interesting finding: while 82% of Chinese citizens believe the U.S. remains a technologically innovative country, only 74% of Americans feel the same way.

At any rate,  the other industry officials who joined Mr. Wandell at the June 16, Rahm Emanuel dinner were:

Penny Pritzker, CEO, Pritzker Realty
Mark Gallogly of Centerbridge Partners
Mike Fascitelli, CEO, Vornado Realty Trust
Klaus Kleinfeld, CEO, Alcoa
Dave O’Reilly, CEO, Chevron
Richard Smith, CEO, Realogy
Mike Ullman, CEO, J.C. Penney
Keith Wandell, CEO, Harley Davidson

I’m not attacking or implying that only favor-curriers are “sitting at the presidents table” but I’m not reading a lot about how the voice of the average lower and middle class American are being heard.  As the White House National Economic Council Director Lawrence Summers has recently urged attendees at these dinners to “think about what your institution should be called on to do, not in its own interest, but in the broader national interest.”

Photo courtesy of Presidential inauguration.

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