downbeat-view
Chevron slashes jobs and spending to weather low oil prices
October 30, 2015 by creative · Leave a Comment
Chevron Corp is slashing 10 percent of its workforce and sharply paring back its budget, with Chief Executive Officer John Watson giving a downbeat view on Friday of an industry beleaguered by low oil prices. A more than 55 percent decline in crude oil since last year has rippled through the global energy industry, forcing producers and their suppliers to make tough decisions. For Chevron, that means cutting its budget by 25 percent next year by spending less in Australia, Angola and the U.S. Gulf …
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Chevron slashes jobs and spending to weather low oil prices