>Chevron, newly headquartered in Houston, announced on Wednesday it will lay off 15 to 20 percent of its global workforce, or roughly 6,000 to 8,000 people, by the end of 2026 in an effort to cut costs and simplify its business. The oil giant employs roughly 40,000 people across its operations worldwide.
atehrani on
At this rate a huge economic downturn is inevitable
No_Medium_8796 on
They are also selling off assets
Radiant-Rip8846 on
The second Trump presidency is shaping up to be similar to the first with energy policy, the O&G majors know that means higher production and lower prices. Shell and BP have already been in cost cutting mode for some time. If Trump also deliveries on his promise to end global conflicts in the Middle East and Ukraine it will be a blood bath for oil industry profit margins.
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>Chevron, newly headquartered in Houston, announced on Wednesday it will lay off 15 to 20 percent of its global workforce, or roughly 6,000 to 8,000 people, by the end of 2026 in an effort to cut costs and simplify its business. The oil giant employs roughly 40,000 people across its operations worldwide.
At this rate a huge economic downturn is inevitable
They are also selling off assets
The second Trump presidency is shaping up to be similar to the first with energy policy, the O&G majors know that means higher production and lower prices. Shell and BP have already been in cost cutting mode for some time. If Trump also deliveries on his promise to end global conflicts in the Middle East and Ukraine it will be a blood bath for oil industry profit margins.