Chevron To Sack 6,750 Staff

The United States super oil major, Chevron Corporation, has slated 6,750 staff for sack in one of the biggest global mass disengagement of work force. The mass sack, the company with third biggest Joint ventures in Nigeria said, represents a cut of between 10 per cent and 15 per cent of its worldwide workforce as part of an ongoing restructuring at the second-largest U.S. oil producer.
Spokeswoman for Chevron, Veronica Flores-Paniagua, confirmed this, while maintaining that Chevron, which has 45,000 employees, expects to remove about 10 to 15 per cent of its global staff to “match projected activity levels.”
The oil producer previously disclosed a 30 per cent reduction in its 2020 spending and some voluntary job cuts amid this year’s sharp drop in oil prices and lower demand for oil and gas due to the COVID-19 pandemic. Chevron has been widely seen as the standard bearer of financial discipline in the oil industry and was among the first to make significant budget cuts as oil demand plummeted. Last year, it abandoned a takeover bid for Anadarko Petroleum Corp rather than get into a bidding war with Occidental Petroleum Corp.
Chevron pocketed a $1 billion break fee while Occidental has faced investor wrath for its ill-timed deal. U.S. crude oil prices have nearly halved this year to about $33 a barrel as the COVID- 19 pandemic slashed travel and led to stay-athome orders that have cut oil demand by as much as two million barrels per day. Chevron this month said it would reduce planned U.S. shale output by about 125,000 bpd.
The about 4,500 to 6,750 job cuts envisioned are to “address current market conditions,” with varying impact on each business unit and region, said Flores- Paniagua. Most reductions will take place this year. “This is a difficult decision and we do not take it lightly,” she added. At its annual shareholder meeting on Wednesday, No. 1 U.S. oil producer Exxon- Mobil Corp said it had not yet taken steps to reduce its workforce.”
TRENDING SONGS










Share this post with your friends on
movie download
- 10:36 am
Great looking website. Think you did a bunch of your very own coding. Teodora Hieronymus Brost
123movies
- 2:10 pm
Wonderful site. Lots of useful info here. I am sending it to a few buddies ans also sharing in delicious. And of course, thanks in your sweat! Nyssa Danie Linus
Best Twitter Services
- 7:39 pm
I am glad that I detected this web site, just the right information that I was searching for! .
https://bonuslikes.com/tag/all-social-media-likes/
Buy Youtube Subscribers
- 9:42 pm
There is noticeably a bundle to learn about this. I assume you made certain good factors in options also.
https://bonuslikes.com/tag/unlimited-number-of-likes/
WWW.XMC.PL
- 10:40 pm
Wow, thanks for sharing, I have learned so much here on your site, thought I’d let you know your efforts are appreciated http://www.piano.m106.com
http://www.xmc.pl
Buy Real Youtube Marketing
- 9:01 am
I truly appreciate your work, Great post.
https://bonuslikes.com/product-tag/500-likes-for-twitter/
Djkotech
- 6:54 am
thank u
WWW.XMC.PL
- 10:14 am
Zycie jest tak dobre, jak dobrym pozwalasz mu byc. – Charles Bukowski
http://www.xmc.pl
WWW.XMC.PL
- 10:52 pm
Zwykle, zanim zycie wreczy nam swoje najwspanialsze prezenty, owija je starannie w najwieksze przeciwnosci losu… – Richard Paul Evans
http://www.xmc.pl
Ronaldbef
- 3:24 am
Hi, here on the forum guys advised a cool Dating site, be sure to register – you will not REGRET it https://bit.ly/2MpL94b
shigget
- 10:43 pm
https://vsviagrav.com/ – viagra online prescription
shigget
- 6:38 pm
http://vslevitrav.com/ – best price on levitra
shigget
- 1:46 pm
https://vsdoxycyclinev.com/ – buy doxycycline 100 mg online rx
shigget
- 2:25 pm
https://vskamagrav.com/ – kamagra gold 100mg review
shigget
- 10:11 pm
https://vsviagrav.com/ – online pharmacy
shigget
- 11:07 pm
http://vsdoxycyclinev.com/ – buy doxycycline 100 mg online rx
shigget
- 11:18 pm
https://fcialisj.com/ – can you buy cialis online