Business & Tech
Chevron Could Lay Off 15% Of Staff: Report
The decision comes amid steeply declining oil prices and a commitment to reduce operating costs, Reuters reported.
SAN RAMON, CA — San Ramon-based Chevron plans to lay off 10 to 15 percent of its 45,000 workers worldwide amid a drop-off in oil prices, Reuters reported.
Most layoffs will take place this year, the San Francisco Chronicle reported. Severance pay, medical benefit subsidies and education services will be available to U.S.-based workers who lose their jobs, Reuters reported.
Chevron previously announced plans to reduce spending to 30 percent, Reuters reported.
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About half of Chevron's employees are in the United States, the Chronicle reported.
Crude oil prices have been nearly cut in half this year, according to Reuters.
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Read more at Reuters and the San Francisco Chronicle.
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