this post was submitted on 12 Feb 2025
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Economics

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Chevron will slash up to 20% of its workforce as part of cost-cutting plan (www.cnbc.com)
submitted 6 days ago by MicroWave to c/economics
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KEY POINTS

  • Chevron is implementing a plan to slash costs by between $2 billion and $3 billion by the end of 2026.
  • The oil major’s fuel business posted a loss for the fourth quarter as refining margins have fallen.
  • Chevron’s pending acquisition of Hess is tied up in arbitration with Exxon Mobil.
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