Chevron plans to cut 1,500 jobs globally

Chevron Corp. plans to eliminate 1,500 jobs globally as part of the company’s initiatives to streamline operations in order to reduce costs by $1 billion, according to various media sources.

The company intends to cut 500 jobs at its San Ramon, California, base, along with 950 jobs in Houston and 50 jobs internationally. Additionally, approximately 600 contractor positions may be eliminated from 24 groups in the company’s corporate center.

Chevron plans to have a majority of the cuts completed by mid-November and to have other cost-saving initiatives in place by the first quarter of 2016.

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