Chevron to Lay Off Up to 20% of Staff

Chevron, the second-largest U.S. oil and gas company, announced plans to cut up to 20 percent of its workforce, or around 9,000 jobs, in a cost-cutting move amid lower oil prices. The layoffs will occur over the next two years, as Chevron aims to save $2 billion to $3 billion. Despite President Trump’s push for increased production, Chevron and other oil companies are focusing on efficiency and streamlining operations as they face a challenging market environment and uncertain future.

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