Chevron To Slash Jobs As Part of Restructuring

The second-largest oil company in the U.S. plans to slash jobs this year because of what it says is “a drastic fall in refining revenues.”

Chevron made the announcement while warning investor that fourth quarter earnings would fall from previous quarters. The company plans to exit some markets as part of the restructuring.

Details on the number of jobs that would be lost and in what markets were not disclosed. The company said further information wouldn’t be available until March.