Chevron cutting 10% of workforce - KWWL - Eastern Iowa Breaking News, Weather, Closings

Chevron cutting 10% of workforce

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(CNN) -
Energy giant Chevron is eliminating 7,000 jobs, or 10% of the company's global workforce.
What's behind the cuts? Low crude oil prices are to blame.
The company is also selling billions in assets and cutting down on its exploration budget to survive the industry slow down.
This comes after last month when Conoco-Phillips announced plans to cut its workforce by 10%.
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