February 14, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--While data show an estimated $1.3 billion in projects just in the United States, U.S. supermajor Chevron Corporation (NYSE:CVX) (San Ramon, California) said it was slashing its payrolls worldwide in a cost-saving effort.

Chevron, which is relocating from California to Texas, said Wednesday it would cut its workforce by as much as 20%, or around 9,000, adding the move was necessary to stay competitive in the global market.