Chevron slashing up to 8K jobs — as much as 20% of workforce — in major revamp of oil giant

Chevron will lay off 15% to 20% of its global workforce by the end of 2026, as it seeks to cut costs and simplify its business, the oil company said Wednesday.Chevron is embroiled in a court battle with rival Exxon Mobil over its planned acquisition of oil producer Hess, which is the cornerstone of its plans for increasing oil production. At the same time, the company is facing weak margins in its refining business, which reported a loss in the fourth quarter for the first time since 2020.Chevron is facing ...