16:30 - 13.02.2025

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February 13, Fineko/abc.az. Chevron Corp., an oil company, plans to reduce the number of employees worldwide by up to 20% as part of a cost-reduction program aimed at simplifying the business structure, increasing its efficiency and competitiveness.

ABC.AZ reports that according to the Financial Times, the program involves optimizing the company's extensive asset portfolio, introducing technologies to increase productivity, as well as changing approaches to work.

"We expect that these measures will lead to a reduction in staff by 15-20% starting in 2025. Most of them will be completed by the end of 2026," said Mark Nelson, deputy head of Chevron's Board of Directors.