CHEVRON WILL CUT 6,000 EMPLOYEES
WO - 5/27/2020 - Chevron 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 company aims to reduce costs to ride out the worst crude-price crash in a generation. Among other big oil companies, BP Plc is reducing senior management roles ahead of a further announcement in June, while Royal Dutch Shell Plc is offering voluntary redundancies. Exxon Mobil Corp. has said it intends to cut operating costs by 15%, not including layoffs.
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