Chevron and BP cutting thousands of jobs
By 
Anthony King2025-02-27T09:30:00
Oil industry is broadly looking to cut costs, increase oil and gas production and cut renewable investments
Oil giant Chevron is to slash its workforce by 15– 20% by the end of 2026, losing up to 9000 jobs. The goal is to simplify the company’s structure and reduce annual costs by around $2–3 billion (£1.6–2.4 billion).
Chevron is not alone. In January, BP began cutting around 4700 employees, around 5% of its workforce, and 3000 contractors – again to reduce costs, as fossil fuel profits are looking volatile.