facebook
twitter
rss
account
search
search
 

Chevron to lay off 2,000 in 2010

March 9, 2010 at 2:54 PM   |   Comments

NEW YORK, March 9 (UPI) -- U.S. energy giant Chevron Corp. said it would close out 2,000 jobs in 2010 as part of a restructuring plan it had already announced.

In a statement, Chairman and Chief Executive Officer John Watson said, "2009 was an outstanding year, capping a decade of performance improvements."

However, "downstream market conditions are likely to be difficult for the next several years," said Executive Vice President Mike Wirth. "We intend to further concentrate our downstream portfolio in North America and Asia-Pacific," he said.

With restructuring, Chevron cut operating costs by $3.9 billion or 15 percent in 2009, Chief Financial Officer Pat Yarrington said.

Chevron said it expected to eliminate 2,000 jobs this year with reductions slated for 2011, as well.

Topics: John Watson
© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
2014: The Year in Music [PHOTOS]

2014: The Year in Music [PHOTOS]

Most Popular
1
Hershey's new logo launched, compared to emoji poop
2
The 'Home of the Whopper' to keep headquarters in U.S.
3
Canadian media must broadcast official emergency notifications
4
France receives upgraded aerial tanker
5
Kurds raise oil funds for refugees
Trending News
Video
x
Feedback