Chevron announced layoffs of 600 workers from its former headquarters in San Ramon, California, as it relocates to Houston. This move, part of an organizational simplification, aims to enhance efficiency and long-term competitiveness. The layoffs will begin on June 1 and are part of broader workforce reductions projected to reach 15% to 20% by 2026. The decision reflects Chevron's focus on strategic growth and operational effectiveness, alongside a recent $53 billion acquisition of Hess Corporation still under review. The company sees benefits in moving to Texas, including a better business environment and proximity to its largest workforce.
Chevron is taking action to simplify our organizational structure, execute faster and more effectively, and position the company for stronger long-term competitiveness. This means we will have fewer positions and unfortunately, fewer people.
Houston is home to our largest U.S. employee base (approximately 7,000). Texas offers a business-friendly environment, a more affordable cost of living, and better proximity to key counterparts in the service sector, our industry and academia.
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