Chevron to cut 800 Texas jobs, 600 in California – Washington Examiner
Chevron announced plans to lay off 800 employees in Midland County, Texas, by July 15, as well as 600 more in California by June 1. This decision is part of the company’s strategy to reduce its global workforce by 20% by 2026. Notably, Chevron has a notable presence in Texas’s Permian Basin. In the first quarter of 2025, the company reported earnings of $3.5 billion, which was a decrease of $2 billion compared to the same period in 2024. The decrease was attributed to a net loss related to legal reserves and tax charges connected to a new energy profits levy in the UK, although partially offset by the fair value of shares from Hess Corporation, which Chevron is in the process of acquiring for $53 billion. CEO Mike Wirth emphasized that despite market changes, the company maintains a strong portfolio and financial discipline.
This layoffs proclamation follows Chevron’s recent relocation of its headquarters from California to Houston, Texas, citing California’s policies as cost-increasing and investment-discouraging. Currently,Chevron has around 7,000 employees in Houston compared to only 2,000 in California.
Chevron to cut 800 Texas jobs, 600 in California
Chevron announced Wednesday it will lay off 800 employees in Midland County, Texas by July 15. Six hundred more are set to be laid off in California by June 1.
The cuts are part of the oil company’s effort to downsize its global workforce by 20% by 2026. Chevron has a major operation in Texas’s Permian Basin.
During the first quarter of this year, Chevron reported earnings of $3.5 billion, which was $2 billion less than 2024’s first quarter. According to the company, this was due to “a net loss of $175 million related to legal reserves and a tax charge due to changes in the energy profits levy in the United Kingdom that were partially offset by the fair value measurement of Hess Corporation shares.”
Chevron is in the process of acquiring Hess in a $53 billion deal.
“Despite changing market conditions, our resilient portfolio, strong balance sheet, and consistent
focus on capital and cost discipline position us to deliver industry-leading free cash flow growth
by 2026,” Chevron CEO Mike Wirth said when the first quarter results were released.
VOLVO TO CUT 3,000 JOBS AS COMPANY FEELS EFFECT OF TARIFFS
This comes less than a year after Chevron moved its headquarters from San Ramon, California to Houston, Texas. Wirth explained the move happened after a 140-year history in the area because “California has a number of policies that raise costs, that hurt consumers, that discourage investment.”
There are about 7,000 Chevron employees in the Houston area, compared to 2,000 remaining in California.
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