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Chevron is laying off more than 200 employees in Texas as part of a sweeping global restructuring plan that could cut up to 20 percent of its workforce by the end of 2026. The company notified the Texas Workforce Commission of 700 job reductions in Downtown Houston starting May 28, with another 200 layoffs expected in Midland beginning July 15.
Chevron says the cuts are part of a broader effort to simplify its organizational structure and improve long-term competitiveness. The company plans to optimize its operations, expand global service centers, and adopt new technologies to boost productivity.
Chevron has also committed to cutting $2 to $3 billion in structural costs by 2026 and selling off $10 to $15 billion in assets by 2028. Some workforce reductions will vary by region but are expected to total 15 to 20 percent globally.