Chevron Plans Sweeping Job Cuts With 6,000 Employees at Risk
- Move seen this year, on top of existing cost-reduction drive
- Job cuts across divisions but primarily in corporate functions
Signage is displayed at a Chevron Corp. gas station in Los Angeles, California.
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Chevron Corp. is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to headcount yet among global oil majors following the Covid-19 pandemic.
The cuts equate to about 6,000 of its 45,000 non-gas station employees and may be a precursor to staffing reductions at Big Oil rivals such as BP Plc and Royal Dutch Shell Plc. Until now, layoffs had primarily been felt in the oilfield services sector and among North American independent producers.