Latest News

CORRECTED OFFICIAL - Chevron to reduce 200 jobs in Texas

According to the Texas Workforce Commission, Chevron is laying off 200 workers in Texas.

The U.S. oil company plans to reduce its global workforce to up to 20% by 2026.

The layoffs will occur in Midland County where Chevron operates in the Permian basin, the largest oilfield in the United States. According to the notices, the layoff date will be July 15. Chevron announced in February that it would reduce its global workforce to cut costs. Chevron is under increasing pressure since then. Its license to operate in Venezuela has been revoked, and the planned $53 billion purchase of oil producer Hess, which was to be completed in February, hangs in limbo due an arbitration dispute.

According to a March filing, the company had previously given notice that it planned to lay off at least 60 employees in California on June 1. Sheila Dang, Houston; Cynthia Osterman, editing.

(source: Reuters)