Chevron announced it is eliminating 4,000 jobs this year. In addition, the US oil company is cutting its budget for the next two years by at least 17 percent. The reason for the company's austerity is falling oil prices and a recent quarterly loss of $ 588 million.
After its first quarterly loss in 13 years, Chevron continues to cut. The US oil company announced 4,000 worker and budget cuts over the next two years, at least 17 percent to $ 26.6 billion this year. Further budget cuts are also planned in 2017 and 2018. In addition, large projects for the development of new deposits will not be completed. Chevron already incurred losses of $ 588 million in the fourth quarter of 2015.
Since mid-2014, the price of oil has dropped by about 70 percent, which has hit the U.S. industry hard. Many jobs have been cut and projects have been frozen. Even industry leader Exxon Mobil plans to cut costs.
American oil company Chevron cuts thousands of workers
|
Azovpromstal® 11 March 2016 г. 09:45 |
