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.

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