According to Reuters’ sources, the company’s management intends to restructure the organization. Chevron employees around the world have received recent hiring notices to reapply.
Within a few weeks, those of the current employees, in whose services the company is no longer interested, will receive a corresponding notification.
Reuters notes that Chevron has pledged nearly $ 1 billion in severance payments to employees who lose their jobs. In total, the cuts could affect 15% of Chevron’s employees, which currently employs more than 47 thousand people.
Chevron, like most companies in this segment, is cutting costs due to a sharp drop in consumption during the pandemic and lower prices for hydrocarbons.
Chevron’s second-quarter revenue was $ 13.49 billion, down from $ 36.32 billion in the same period in 2019. The company suffered losses in the amount of $ 8.3 billion, although a profit of $ 4.3 billion was recorded for the same period last year.
source: reuters.com
