Reported about 14 hours ago
Chevron announced it will lay off 15% to 20% of its global workforce by the end of 2026 as part of its strategy to cut costs and streamline operations amid production challenges and a contentious acquisition of Hess. This decision follows a decline in oil and gas reserves and a struggle with refinery losses, as the company seeks to enhance its long-term competitiveness. Approximately 8,000 employees could be affected, reflecting Chevron's ongoing adjustments in a rapidly consolidating oil industry.
Source: YAHOO