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Chevron leaders say they will support all those laid off. Cost cutting could save the company's future.
American giant in the sector of Oil and Gas, Chevron is taking drastic measures to reduce costs and increase its competitiveness in the global market. The company announced that it will carry out a significant layoff of its workforce, foreseeing the elimination of between 15% and 20% of its employees worldwide by the end of 2024, which should affect around 9 professionals.
The decision is part of a global restructuring aimed at simplifying its operations and optimizing its finances.
Chevron's headcount decline has been ongoing since 2023
In a statement released last Wednesday, Mark Nelson, vice president of Chevron, explained that the changes are necessary to ensure that the company is prepared to face the challenges of the future.
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“Chevron is taking steps to simplify our organizational structure, execute actions more quickly and effectively, and position the company for stronger long-term competitiveness,” Nelson said.
The company, which had approximately 2023 employees at the end of 46.500, has seen a large decrease in headcount since its peak of 65 employees a decade ago.
With the current restructuring, Chevron continues its cost reduction strategy, with the goal of saving between US$2 billion and US$3 billion by 2026.
To achieve these numbers, the company had also already transferred its headquarters from San Ramon, California, to Houston, Texas.
As layoffs are a reflection of the difficulties faced by several companies in the energy sector, which seek to adapt to an increasingly competitive and volatile market.
Mark Nelson stressed that the decision was not taken lightly, ensuring that the company will provide support to affected employees during this transition period.
“Responsible leadership requires taking these actions to improve the long-term competitiveness of our company, for our people, our shareholders and our communities,” the executive added.
This move by Chevron reflects a broader trend in the energy sector, where large companies are reviewing their operations to adjust to new market demands and seek greater efficiency in their operations.
Get to know Chevron and its operations in Brazil
Chevron is a global energy company with over 100 years of operations in Brazil. Its history began with the sale of Texaco products and soon expanded.
Since 1997, the company has also focused on the upstream sector, with interests in 17 deep-water oil and gas exploration blocks, located off the coasts of Rio de Janeiro and Rio Grande do Sul.
In the downstream segment, Chevron operates a lubricant additives plant in Mauá, São Paulo, and has a stake in the Iconic Lubrificantes joint venture, selling industrial lubricants and greases.
Furthermore, it is present in the gas station market with the Texaco brand.
They could have spoken historically about the brand's values in recent years, as well as what reserves the company currently has, in addition to a complete overview of the portfolio.
It seems that MAGA – Make American Great Again is increasingly difficult to maintain. Is this the TWILIGHT of American imperialism?
The following, that captain of yours that you mentioned about the Even in music course, the situation and the direction of Brazil are visible. Nothing else comes out, a musical instrument has become a thing of the past, just a microphone. American is a lie. You clickegasepetroleo are pure evil spreading lies I hope you realize what you do. Otherwise, life will charge you brother, better than anyone!