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
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