Chevron Shocking Layoffs: Up to 20% of Workforce Cut, Industry Impact Looms

"Chevron Cuts 20% of Workforce: Industry Impact Ahead"

Chevron plans to cut 15% to 20% of its global workforce, potentially affecting thousands, but the impact on Houston remains unclear.

Rachel Patel4 hours agoLast Update : 4 hours ago

Chevron to lay off up to 20% of workforce, report says

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Chevron, the energy giant headquartered in Houston, announced plans to lay off 15% to 20% of its workforce by the end of next year. The announcement, made on February 13, 2025, indicates potential job cuts affecting thousands of employees globally, although it remains uncertain how many of these layoffs will occur in Houston, where approximately 7,000 employees are based.

6 Key Takeaways

Chevron plans 15% to 20% workforce cuts.
Major layoffs may affect thousands globally.
Uncertainty about Houston layoffs remains.
Chevron employs around 7,000 in Houston.
Company reported $3.2 billion earnings.
Chevron relocated from California to Texas.

Fast Answer: Chevron plans to reduce its workforce by 15% to 20% by the end of 2026, affecting thousands of employees globally. The company, headquartered in Houston, has about 7,000 employees in the area, but the exact number of layoffs there is still unclear.

Chevron’s announcement comes as the company seeks to streamline operations amid changing market conditions. With a global workforce exceeding 40,000, the layoffs could result in a significant reduction in staff numbers. The company reported earnings of $3.2 billion in the fourth quarter of 2024, indicating a profitable year despite the impending cuts.

Key details regarding the layoffs include:

Workforce reduction target: 15% to 20%
Global workforce: over 40,000 employees
Employees in Houston: approximately 7,000

Chevron relocated its headquarters from California to Texas in 2024, a move that has positioned it in a more favorable business environment. The company has not specified how many layoffs will occur in Houston, where a large portion of its workforce is concentrated in downtown offices. As the situation develops, stakeholders and employees await further details from Chevron regarding the specific impacts of these layoffs.

Notice: Canadian readers may be interested in how Chevron’s workforce reductions could affect energy markets and employment opportunities in Canada, especially given the interconnected nature of North American energy sectors.

In summary, Chevron’s decision to cut its workforce by up to 20% reflects ongoing adjustments in the energy sector. While the exact impact on Houston remains uncertain, the potential for significant job losses underscores the challenges facing the industry.