Chevron Corp. will cut 1,500 jobs globally as the company aims to reduce internal costs in multiple operating units and the corporate center.
The San Ramon, Calif.-based energy company will cut 950 positions in Houston, 500 positions in San Ramon and 50 positions internationally.
Chevron is cutting jobs due to the current market environment and is “focused on increasing efficiency, reducing costs and focusing on work that directly supports business priorities,” Chevron spokesperson Melissa Ritchie said in an email to Rigzone.
Chevron will be cutting 1,500 employee positions across the 24 groups that comprise the corporate center; 270 of the positions are existing vacancies that will not be filled. Additionally, 600 staff augmentation contractor positions will be cut in the corporate center.
The cost reductions due to cuts in the corporate center are expected to total $1 billion with additional cost savings expected across the company.
Ritchie said Chevron’s cost-cutting initiatives are currently underway and will continue in coming months. The company plans to have a majority of the cuts completed by mid-November of 2015 as well as cost-saving initiatives in place by 1Q 2016.
Previously announced moves of selected corporate functions from San Ramon to Houston will continue as planned, Ritchie told Rigzone.
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