Chevron eliminating 655 jobs in Houston

Chevron Corp. will soon eliminate 655 jobs in Houston across its upstream group as part of the company’s overall plan to cut its workforce by 4,000 this year, according to various media outlets.

Last year, Chevron reduced its workforce by 3,000. Combined with this year’s planned layoffs, these 7,000 positions account for approximately 10% of Chevron’s workforce as represented at the end of 2014.

In addition to the 2016 staff cuts, Chevron's $26.6 billion investment budget for this year represents a 24% reduction from prior levels.

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