Chevron plans to lay off up to 20% of workers as part of cost-cutting measures

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Chevron plans to lay off up to 20% of workers as part of cost-cutting measures - Barron's

^{Published on 2025-02-12 14:21:09 - MSN}

Chevron (NYSE:CVX) told employees on Wednesday that it is planning to lay off between 15% and 20% of its workforce, which is approximately 6,000 to 8,000, as reported by Barron's. The company's Vice Chairman,

Chevron Corp. is planning to reduce its workforce by up to 20% as part of its cost-cutting measures, according to a report by Barron's. This decision comes in response to the company's need to streamline operations and improve efficiency amidst fluctuating oil prices and market conditions. The layoffs are expected to affect both its U.S. and international operations, with the goal of reducing operational costs and enhancing profitability. This move is part of a broader strategy to adapt to the evolving energy sector, where companies are increasingly focusing on cost management to remain competitive.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/topstocks/chevron-plans-to-lay-off-up-to-20-of-workers-as-part-of-cost-cutting-measures-barron-s/ar-AA1yV2V2 ]

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Chevron plans to lay off up to 20% of workers as part of cost-cutting measures - Barron's