Chevron Will Lay Off Up To 20% Of Employees—Impacting Up To 9,100

1. Chevron plans to cut 15%-20% of its workforce, impacting 6,830 to 9,100 jobs. 2. The layoffs aim to improve efficiency and long-term competitiveness for shareholders. 3. Chevron's profit declined from $36.5 billion in 2022 to $21.4 billion in 2023. 4. Job cuts align Chevron with broader layoffs in major corporations across various sectors. 5. Chevron's stock has returned -2% over the last two years, underperforming the S&P 500.