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Chevron will slash up to 20% of its workforce as part of cost-cutting plan

Chevron is planning to reduce its global workforce by 15% to 20% by 2026, potentially impacting up to 9,000 employees, according to Vice Chair Mark Nelson.
The company aims to reduce structural costs by $2 billion to $3 billion before 2027, amidst a significant drop in net income of 17.35% year over year.
CEO Mike Wirth expressed that responsible leadership necessitates these changes for long-term competitiveness and to support employees through the transition.

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Chevron to cut 15-20% of workforce by end of 2026: company

Chevron will cut 15 to 20 percent of its workforce as part of a reorganization to save money and to position the oil giant for the long-term, the company said Wednesday.The job cuts will begin in 2025 and be mostly complete by the end of 2026, Chevron said in a statement to AFP. The moves are in lin...

8 days ago·United States

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The Business Journals

Chevron to cut up to 20% of workforce amid push for simplification, efficiency

The "reductions are in line with" the plans Chevron previously announced to reduce structural costs by between $2 billion and $3 billion, the vice chairman said.

9 days ago·United States

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Entrepreneur

Chevron Announces Layoffs Affecting Up to 8,000 Workers: 'Stronger Long-Term Competitiveness'

Chevron told employees that it would lay off up to 20% of its workforce within the next two years in an effort to cut costs by up to $3 billion.

9 days ago·San Francisco, United States

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voz.us

Chevron will fire up to 20% of his workforce

Chevron Vice President Mark Nelson announced that the company will fire up to 20% of its workforce. The executive justified the decision within the oil giant's plan to "simplify" the organizational structure, "run faster and more effectively and place the company in a more competitive position in the long term."Read more]]>

9 days ago

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Houston Public Media

Houston-based Chevron to lay off up to 20 percent of its global workforce, according to reports

The announcement of layoffs at Chevron— the second largest oil producing company in the United States— comes shortly after the company announced it would move its corporate headquarters from San Ramon, California to Houston.

10 days ago·Houston, United States

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