BANGKOK, May 16 (Reuters) - The Thai unit of U.S. oil firm Chevron plans to cut 800 staff this year as it looks to cut costs by half a billion dollars to weather the sharp fall in global energy prices and weaker demand, the company said on Monday.
"The cuts will help the company to continue operations in Thailand," company's president Pairoj Kaweeyanun told reporters after meeting with Thai energy ministry officials on Monday.
The cuts would take effect on Aug. 1, the company said in the statement. Chevron aimed to make savings of $500 million in Thailand this year, Pairoj said.
Chevron Thailand Exploration and Production employs about 2,200 staff and another 1,700 contractors, the statement said.
(Writing by Khettiya Jittapong; Editing by Simon Webb and Orathai Sriring)
Copyright 2016 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you