Chevron slashing up to 8K jobs — as much as 20% of workforce — in major revamp of oil giant
Portfolio Pulse from
Chevron is planning to cut up to 8,000 jobs, representing 20% of its workforce, as part of a major restructuring aimed at achieving $3 billion in cost savings by 2026. The company plans to leverage technology, asset sales, and changes in work processes to reach this goal.
February 12, 2025 | 6:45 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Chevron is cutting up to 8,000 jobs, or 20% of its workforce, to achieve $3 billion in cost savings by 2026. The company will focus on technology, asset sales, and work process changes.
The job cuts and cost-saving measures are likely to improve Chevron's financial performance in the short term, potentially leading to a positive impact on its stock price. The focus on technology and asset sales indicates a strategic shift that could enhance efficiency and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100