12:27 PM EST, 02/12/2025 (MT Newswires) -- Chevron ( CVX ) will reduce its global workforce by 15% to 20%, affecting about 6,000 to 8,000 people, news outlets reported Wednesday.

The company has informed its employees about the layoffs, which are part of a larger cost-cutting initiative, Barron's said, citing a top company executive.

CVX shares were edging 0.7% lower in recent trading.

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