Energy
Chevron Plans to Lay Off 20% of Workers in Cost-Cutting Push
- Staff reductions could amount to as many as 9,000 employees
- Oil giant recently moved headquarters from California to Texas
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Chevron Corp. plans to cut its global workforce by 15% to 20% by next year, as part of efforts to reduce costs and raise profits.
The US oil giant employed 46,500 people globally at the end of 2023, meaning the cuts could affect as many as 9,000 employees. The company recently moved its headquarters from San Ramon, California, to Houston, Texas, and is targeting $2 billion to $3 billion of structural cost reductions by 2026.