Chevron to lay off about 25% of Noble Energy employees after merger

NEW YORK: Chevron Corp will lay off about 25 per cent of Noble Energy's employees who joined the oil major after its US$4.1 billion purchase of the smaller rival earlier this month, the company told Reuters on Tuesday.

Chevron's 10 per cent-15 per cent cuts would imply a reduction of between 4,500 and 6,750 jobs, while job cuts at Noble will reduce the total workforce by roughly another 570 positions.Chevron's purchase of Noble boosted its investments in US shale patches of Colorado and the Permian basin and gave the company a foothold in Israel through Noble's flagship Leviathan project, the largest natural gas field in the eastern Mediterranean.

About 700 employees will lose jobs in Houston starting this month, according to a filing with the Texas state.

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Exclusive: Chevron to lay off about 25per cent of Noble Energy employees after mergerChevron Corp will lay off about 25per cent of Noble Energy's employees who joined the oil major after its US$4.1 billion purchase of the smaller ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »

Exclusive: Chevron to lay off about 25per cent of Noble Energy employees after mergerChevron Corp will lay off about 25per cent of Noble Energy's employees who joined the oil major after its US$4.1 billion purchase of the smaller ...
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »