Chevron’s Nigeria unit has disclosed her plans to cut 25% of its workforce to become more efficient and reduce operating costs, the latest sign demand for global oil is not steady under covid -19 pandemic and new restrictions to contain it.
“The aim is to have a business that is competitive and an appropriately-sized organization,” in a statement from the company spokes person “We must make the necessary adjustments in light of the prevailing business climate.”
Workers in the Energy company started a strike on Friday while union representatives accused the company of seeking to replace laid-off Nigerians by transferring their jobs abroad. But in its statement the company said there were no such plans to move Nigerian jobs out of the country and said employees would stay in their jobs until the reorganization is complete.
The International Energy Agency last month reduced its forecasts for fuel consumption for the rest of the year, warning that the global oil market was increasingly “fragile” as new outbreaks of covid-19 derailed the recovery.