Chevron Plans 20% Workforce Cuts

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Chevron employees

Reuters

•

Business

Business & Economics

Chevron staffers absorb long-awaited layoffs as CEO pledges accountability

Summary

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77% Informative

Chevron announced plans to cut up to 20% of its global workforce last week .

The oil giant's plan to cut as much as a fifth of its workforce - about 8,000 people - comes after oil prices traded in the $ 70 -80 per barrel range for most of the past year .

Chevron said in November it aimed to cut $3 billion in costs by 2026 .

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semi-formal

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English

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