Chevron announced Tuesday that the company will lay off 1,500 oil and gas workers companywide, including over 900 positions in Houston.
In a statement released to KPRC 2 News, Chevron said that due to cost reduction efforts approximately 950 positions will be reduced in Houston. Operations in San Ramon, California will experience a reduction of 500 jobs and internationally, 50 jobs were reported for expected cuts. Around 270 of the total job cuts are currently vacant positions that will not be filled.
The international oil mogul counts roughly 8,000 Houston-area employees. Two years ago, the company had a count of nearly 9,000 in the area.
“In light of the current market environment, Chevron is taking action to reduce internal costs in multiple operating units and the corporate center. These initiatives, which are currently underway, are focused on increasing efficiency, reducing costs and focusing on work that directly supports business priorities,” read the statement.
Chevron spokeswoman Melissa Ritchie stated that additional cost savings are expected to be achieved across the enterprise.
Chevron stated that the job cuts are a part of the larger goal of reducing costs by nearly $1 billion. Earlier this year, Chevron had canceled its exploration projects in Romania due to crashing oil prices and heated protests. In addition, the company had moved 100 jobs from its San Ramon corporate headquarters to Houston, which now seems all for nothing.