US EditionChevron 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.
67 Articles
67 Articles
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...
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]]>
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.
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
