Big news from Chevron, a huge oil company! They're making some big changes to save money and become more efficient. They're planning to let go of some workers and change how they do things. This is happening because of some problems with their projects and lower profits.
- Chevron will reduce its workforce by 15% to 20%.
- This means around 8,000 people might lose their jobs.
- They're also trying to cut costs by $3 billion.
- Chevron's stock price went down a little bit after the announcement.
| Fact | Number |
|---|---|
| Total employees (end of 2023) | 40,212 |
| Approximate job cuts | 8,000 |
| Target cost cuts | $3 Billion |
| Year-to-date share increase | 5.6% |
