Chevron slashing up to 8K jobs — as much as 20% of workforce — in major revamp of oil giant
1. Chevron plans to lay off 15-20% of its workforce by 2026. 2. Company aims to cut $3 billion in costs through technology and asset sales. 3. Chevron is facing weak refining margins, reporting a first-time loss since 2020. 4. Ongoing legal battle with Exxon over Hess acquisition could impact production plans. 5. Reorganization and new leadership changes are expected soon.