Business Latest

Chevron Nigeria to slash workforce by 25%

Host community serves Chevron, NDDC, others quit notice over failure to implement local content bill

Chevron Nigeria Limited on Friday declared its intention to slash its workforce by 25 percent due to the current economic situation in the country.

In a statement issued by its General Manager in charge of Policy, Government and Public Affairs, Esimaje Brikinn, and titled: “Chevron Nigeria Limited reviews workforce in accordance with business exigencies,” the oil giants said it would continue to evaluate opportunities to improve capital efficiency and reduce operating costs.

The company said the new organisational structures would require approximately 25 percent reduction in the workforce across the various levels of the organisation.

Chevron stressed that it has no intention to migrate Nigerian jobs outside the country.

The statement read: “The aim is to have a business that is competitive and have an appropriately sized organisation with improved processes.

READ ALSO: Ultimatum for Chevron to recall sacked workers remains —NUPENG

“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.

“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.”

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

/* ]]> */