⁍ The No. 2 U.S. oil producer has begun taking steps to streamline its organization this year.
⁍ Chevron recently expanded its 45,000-person workforce by acquiring smaller oil and gas producer Noble Energy.
– Chevron is asking employees to reapply for jobs as part of a plan to cut up to 15% of its workforce, sources tell Reuters. The company, the second-largest oil producer in the US, has already taken a $1 billion charge this year to cover severance costs for workers who lose their jobs as a result of cost-cutting moves. The company’s CEO tells Reuters that decisions on which jobs to cut will be made in several weeks. Chevron, which recently acquired smaller oil and gas producer Noble Energy, says the cuts will mostly affect workers in areas where the two companies overlap. Royal Dutch Shell last month said it plans to cut up to 9,000 jobs, or more than 10% of its workforce. BP Plc this year also announced plans to cut around 10,000 jobs, as the two shift from oil and gas to lower-carbon energy sources.
Source: https://www.reuters.com/article/us-chevron-layoffs-exclusive/exclusive-chevron-workers-face-demands-to-reapply-for-jobs-under-global-restructuring-sources-idUSKBN26S3IQ