NewsChevron Says Laying Off At Least 25 Percent Employees In Nigeria

Chevron Says Laying Off At Least 25 Percent Employees In Nigeria

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BEVERLY HILLS, October 02, (THEWILL) – American oil giant, Chevron has announced it would retrench at least 25 percent of its employees in Nigeria as part of a major restructuring.

Chevron Nigeria Limited in a statement Friday said the retrenchment was due to a review of its manpower requirement going by the changing business environment.

THEWILL reports that low crude oil price has hit the bottom line of oil companies forcing them to make drastic cuts.

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The statement signed by General Manager Policy, Government and Public Affairs, Esimaje Brikinn, said: “The aim is to have a business that is competitive and have an appropriately sized organisation with improved processes.

“This will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the Federal Government of Nigeria.

“It is important to note that all our employees will retain their employment until the reorganisation process is completed.

ALSO READ: Employees In Nigerian Banking Industry Reduced By 9,899 – NBS

“We have prospects for our company in Nigeria; however, we must make the necessary adjustments in light of the prevailing business climate; and we need everyone’s support to get through these tough times stronger, more efficient and more profitable, in order to sustain the business.

“We are actively engaging our workforce to ensure they understand why this is being done. We will continue to consistently engage all relevant stakeholders, including the leadership of the employee unions as we continue this process of business optimisation.”

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