The Layoffs Return: Energy Giants Chevron, Saipem To Fire Over 10,000 Workers

Wednesday, July 29, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
07/29/2015

Overnight, US energy major Chevron announced it will cut 1,500 jobs globally “as the company aims to reduce internal costs in multiple operating units and the corporate center.” According to Rigzone, “the San Ramon, Calif.-based energy company will cut 950 positions in Houston, 500 positions in San Ramon and 50 positions internationally.” But it’s not just the US, because moments ago Italy’s biggest oil and gas industry contractor Saipem announced that not only is it cutting its guidance, sending its stock plunging, but also reported that it plans to cut 8,800 workers by 2017.

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