The proposed plan will eliminate the company’s workforce by 2% with majority of the jobs being affected across its Texas and California operations.
The lay-offs will include 50 international employees, and 600 contractor positions. As part of the move, the company has dropped plans to fill up the 270 empty positions.
In recent years, Chevron has significantly strengthened its presence in Texas to develop the Permian shale formation, which is said to be one of its premium assets.
Chevron said in a statement: "In light of the current market environment, Chevron is taking action to reduce internal costs in multiple operating units and the corporate center.
"These initiatives, which are currently underway, are focused on increasing efficiency, reducing costs and focusing on work that directly supports business priorities."
