Chevron planning to slash up to 20% of staff, offering voluntary buyouts

What’s going on at Chevron?

Chevron is planning to eliminate 15 to 20 per cent of its global workforce by the end of 2026 as it restructures its business.

“Chevron is taking action to simplify our organizational structure, execute faster and more effectively, and position the company for stronger long-term competitiveness,” Mark Nelson, vice chairman of the energy giant, said in a statement.

“We do not take these actions lightly and will support our employees through the transition.”

A source told Reuters that the company is currently offering voluntary buyouts to staff.

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• Telus offering severance, retirement packages to customer support workers

Impact on Canadian staff

It remains unclear if Canadian employees at Chevron will be let go.

According to LinkedIn, the company has more than 900 workers in the country.

Should I accept a voluntary severance package?

Non-unionized employees in Canada shouldn’t accept a voluntary severance package before speaking with an experienced employment lawyer at Samfiru Tumarkin LLP.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and British Columbia (B.C.).

WATCH: Employment lawyer Lior Samfiru delves into severance pay on an episode of the Employment Law Show.

In some cases, individuals could be owed far more compensation if they’re fired by the company — or let go involuntarily.

Major employers slashing staff

Chevron’s plan to scale back its staffing levels comes amid a flurry of job cuts to start 2025.

Big names, including Vale, Unity, Meta, Canada Post, Workday, ADM, Amazon, Shopify, Stripe, BP, Microsoft, Hudson’s Bay, and Wayfair, have pulled out the axe as they continue to navigate challenging economic conditions.

SEE ALSO
• ‘We lost our agility’: Estée Lauder planning to slash up to 7,000 jobs
• Canada’s immigration department slashing workforce by 25%
• Where are layoffs happening in Canada?
• Pocket Employment Lawyer: Real-time insights on your rights

Workplace issue? Contact us

Since 2007, the experienced employment law team at Samfiru Tumarkin LLP has helped tens of thousands of non-unionized individuals resolve their workplace issues.

Whether you’re in Ontario, Alberta, or B.C., our lawyers can review your situation, enforce your rights, and ensure that you receive the compensation you deserve.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.