Chevron's $5 billion deal for Noble Energy: layoffs, job cuts - Business Insider

The deal is expected to yield at least $300 million in yearly cost savings, partially by laying off some workers, Chevron said in a call with investors following the announcement.

About two-thirds of the stated savings would come from operating costs, including the workforce, Pierre Breber, Chevron's CFO, said on the call. Specifically, IT, office workers, and consultants would be impacted, but "there are no field cost reductions," he added. On Monday, Brent crude, the international price benchmark, was trading at about $43 a barrel, down roughly 35% since the start of the year. Are you an employee at Chevron or Noble Energy? We want to hear from you. Reach out to this reporter atReutersChevron's bid to buy Noble, valued at about $13 billion including debt, is the largest US energy deal to be announced this year.

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Chevron Agrees to $5 Billion Takeover of Noble EnergyChevron has agreed to buy Noble Energy, in what would be the largest oil-patch tie-up since the coronavirus pandemic delivered a shock to the industry. Big whoop They need to stop drilling in the Ocean because of all of the pollution in the Ocean such as accidental spilling of oil, fuel, dumping of trash, dumping chemicals, etc.... How can sea life be protected if we keep destroying their environment? Save the Ocean my people!!!! Well that's an unfortunate decision. They could have put $5B into renewables research and batteries. Now they'll be looking for a bailout in a few years.
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