Chevron reduces the number of employees by 15-20 % in workers’ demobilization

Chevron seeks to trim the number of employees in a large amount.

The energy giant will rest 15 % -20 % Mark Nelson, Vice President of Chevron, Mark Nelson, said in a statement on Wednesday, from her workers in an attempt to “simplify our organizational structure, (execution) faster and more efficient, and put the company with a stronger long -term competitive ability.”

The number of global employees for Chevron consists at the end of 2023 from more than 40,200 employees at a non -service station and about 5,400 workers at the service station, according to his last annual report.

Nelson said Company Most of the workers’ layoffs will end, which begins this year, before the end of 2026.

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“We do not take these measures lightly and we will support our employees through the transition,” said Vice President of Chevron.

The energy giant aims to reduce its structural costs through layoffs and other procedures by $ 2 to 3 billion dollars before 2027, according to Nelson.

CFO Eimear Bonner said in November, when the company issued its financial results in the third quarter, Chevron aims to achieve this level of savings. She indicated that the company will make updates to its efforts “until 2025”.

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According to Nelson’s statement, the power giant is “improving its wallet, benefiting from technology to enhance productivity, and change how work is carried out, including the expanded use of global centers.”

index	protection	last	Changing	% Change
CVX	Chevron Corp.	154.93	-2.49	-1.58 %

He said that the organization’s structure changes by Chevron “will improve monotheism, centralization, efficiency and results, open new growth capabilities and help Chevron lead the leading performance in the industry now and in the future.”

The news comes nearly two weeks after the energy giant revealed its profits in the fourth quarter.

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Chevron achieved $ 52.2 billion of total revenue and about $ 3.24 billion in net income in the fourth quarter. Over the course of 2024, the company witnessed revenues of 202.79 billion dollars and a net income of $ 17.6 billion, with two numbers from 17.35 % on an annual basis.

Global Company Net oil equivalent production Publishing 7 % one year increase on an annual basis.

CEO Mike Worth She said last month that the company “is in a strong position today, with stimuli in the short term, which is expected to push the company to better performance in 2025 and 2026.”