Chevron will lay off nearly 800 employees in Texas, according to a notice on Wednesday to the Texas Workforce Commission, which is part of the U.S. oil producer’s plan to cut up to 20 per cent of its global workforce by the end of 2026.
The job cuts will be in Midland County, where Chevron has large operations in the Permian Basin, the top U.S. oilfield, and the layoff date is July 15, according to the notices.
The company previously gave notice that it would lay off at least 600 employees in California effective June 1, according to a filing in March.
Recall that a key license for Chevron to operate in Venezuela was revoked by the U.S. President Donald Trump’s government and a two-month period granted to wind down transactions expired, putting an end to the license, the company said.
Chevron announced plans to slash the global workforce in February in order to cut costs and simplify the business. Since then, Chevron has come under more pressure, as its license to operate in Venezuela was revoked, and its planned $53 billion acquisition of oil producer hangs in the balance amid an arbitration dispute.
Read also: Trump, Musk watch as SpaceX launches Starship in Texas
