Reported 2 days ago
Chevron has announced plans to cut up to 20% of its global workforce, roughly 8,000 employees, during an internal meeting despite recent successes in safety and financial performance. Executives attributed the decision to an overly complicated business structure and the need to compete more effectively with rivals. The layoffs come after a tough period for the company, which faced legal challenges surrounding its acquisition of Hess while navigating fluctuating oil prices. CEO Mike Wirth emphasized the need for accountability and transparency within leadership as the company seeks to improve efficiency and operational clarity.
Source: YAHOO