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Chevron Pruning heads by 15-20% in release


Chevron wants to trim his number of large amounts.

The energy giant will release 15%-20% From their workers in an effort to “simplify our organizational structure, [execute] Faster and more efficiently and positions a company for a stronger long -term competitiveness, “said Vice President Chevron Corp Mark Nelson in a statement on Wednesday.

Chevron’s global number at the end of 2023 consisted of more than 40,200 employees who are not official cells and nearly 5,400 service station workers, according to the last annual report.

(Jonathan Raa/Nurphoto via Getty Images)

Said Nelson company It will end up the “most” dismissal, which start this year, before 2026.

Chevron, engine no. 1, GE Vernova join for the construction of American data

“We do not take these actions lightly and we will support our employees through transition. But the responsible guidance requires taking these steps to improve the long -term competitiveness of our company for our people, our shareholders and our community,” wrote Vice President Chevron Vice President.

The energy giant aims to reduce its structural costs by release and other actions by $ 2 to $ 3 billion before 2027, Nelson said.

Chevron Petroleum Station in Los Angeles (Mario Tama/Getty Images/File)

CFO Eimear Bonner said in November, when the company announced its financial results in the third quarter, that Chevron aimed at reaching that savings level. She stated that the Dat update company would be “by 2025”

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According to Nelson’s statement, the energy giant “optimizes its portfolio, exploitation of technology to improve productivity and change of ways and where it works, including the enlarged use of global centers.”

Dice Security Last Change Change %
CVX Chevron Corp. 154.93 -2.49

-1.58%

He said that the structures of the organization that Chevron creates “improve standardization, centralization, efficiency and results, unlocking new growth potential and help Chevron Drive leading the leading performance now and in the future.”

(Reuters/Mike Blake/File)

The news comes almost two weeks after the energy giant revealed its earnings in the fourth quarter.

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Chevron generated $ 52.2 billion in total revenue and almost $ 3.24 billion in net revenue in the fourth quarter. Throughout 2024, the company recorded revenues of $ 202.79 billion and a net revenue of $ 17.66 billion, and the latter of two figures indicate a 17.35% decline in the year.

Company globally Net production equivalent oil He has announced an increase of 7% year by year.

Mike Wirth CEO Last month, the company “is in a strong position today, with short -term catalysts who are expected to bring the company to even better performance 2025 and 2026.”



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