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Chevron To Cut Up To 5,500 More Jobs Worldwide

The California-based energy company has already slashed 1,500 jobs this year, including 950 in the Houston area.

Chevron sign showing logo
Chevron sign

Chevron plans to cut 4,500 to 5,500 more jobs from its global workforce. That’s on top of the 1,500 job cuts the energy company announced earlier this year. The cuts are among a series of measures Chevron is taking to slash spending due to low crude oil prices.

“On the organizational side, lower investment activity, portfolio changes, and efficiency reviews across the upstream, gas, and midstream, and the corporate and service company groups are expected to result in employee reductions of between 6,000 to 7,000,” said CEO John Watson, who announced the cuts in conference call reporting the company’s earnings for the third quarter of 2015. “A similar number of contractor reductions are anticipated over this same period.”

The California-based energy company has already cut 950 jobs from its Houston workforce. It employs roughly 8,000 workers around the region.

Chevron earned $2 billion dollars over the course of the third quarter, but that profit came largely from refining operations. The company barely broke even on exploration and production worldwide, taking a $603 million loss on E&P in the United States.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media’s business reporter, covering the oil...

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