Chevron will slash up to 20% of its workforce as part of cost-cutting plan

Chevron will slash up to 20% of its workforce as the oil major implements a plan to cut costs, the company announced Wednesday. The layoffs will begin this year with most of the cuts complete before the end of 2026. The job cuts are part of the oil major's plans to slash costs by between $2 billion and$3 billion by the end of next year, according to Chevron. "We do not take these actions lightly and will support our employees through the transition," Chevron Vice Chairman Mark Nelson said in a statement. " ...