Chevron (CVX) said it would lay-off 2,000 people. The company issued a press release describing its plans which had the title “Chevron Well-Positioned For Future Growth” Firing employees must be integral to that.
Chevron also indicated it would drop out of some businesses.
Chevron said the restructuring activities might include soliciting bids for certain operations in Europe including the Pembroke refinery, the Caribbean, and select Central America markets. The firm will also review operations in Hawaii and Africa.
Chevron hardly has a gun to its head financially. It made $5.8 billion in the fourth quarter of last year on revenue of $47.6 billion.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
