⁍ The company, which operates a joint venture with Nigeria’s state-owned NNPC, said it needed to make the adjustments to remain competitive.
⁍ It did not say how many jobs would be affected but said the cuts would affect workers across its operations.
– Chevron Nigeria plans to cut its local workforce by 25% to save money, Reuters reports. The company didn’t say how many jobs would be affected, but it said the cuts would affect workers across its operations. The company, which operates a joint venture with Nigeria’s state-owned NNPC, said it needed to make the adjustments to remain competitive in light of the prevailing business climate. It added in a statement there were no plans to move jobs abroad and it was engaging with its workforce on the plan. Employees will retain their jobs until the reorganisation is completed. Prices of oil, Nigeria’s main export, fell sharply early this year and in April global benchmark Brent LCOc1 hit a 21-year low below $16 as the coronavirus outbreak hit demand, though oil markets have recovered since then.
Source: https://www.reuters.com/article/us-nigeria-chevron/chevron-nigeria-plans-to-cut-25-of-staff-after-oil-price-drop-idUSKBN26O0V4