03:14 PM EDT, 11/01/2024 (MT Newswires) -- Chevron ( CVX ) is considering US layoffs and targeting $3 billion in "structural" cost savings from asset sales, the adoption of new technology and workflow changes, Bloomberg reported Friday citing an interview with Chief Executive Mike Wirth.

"We're going to change where and how we do some of our work," Wirth said in the interview in response to a question about workforce reductions.

Referring to a recently-opened innovation hub in Bengaluru, India, Wirth said it is "an example" of the company's plans to change how and where it operates.

Wirth also said it was "premature" to discuss specifics, according to the report.

Chevron ( CVX ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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