Chevron Corporation (CVX) Cutting 2,000 Jobs
By Daniel James Hayden IV
March 09, 2010 8:58 AM
March 09, 2010 8:58 AM
Chevron Corporation (NYSE: CVX) announced that it will eliminate 2,000 jobs in an employee reduction program beginning this year and running through 2011.
The move is being made in order to reduce costs in the company's refining business.
On an after tax basis, 1st quarter severance charges will be somewhere between $150 million and $200 million for the 1st quarter.
Chevron Corporation is reviewing its operations in Hawaii and Africa and will invite bids for its operations in Europe, the Caribbean, some central American locations.
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