Energy Giants Chevron, Saipem To Cut Over 10,000 Workers – ValueWalk Premium
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Energy Giants Chevron, Saipem To Cut Over 10,000 Workers

U.S. energy giant Chevron and Italian oil contractor Saipem SpA announced Tuesday that they would lay off over 10,000 employees in an effort to offset declining crude prices.

Mirroring the announcement, Saipem’s shares dropped nearly 9.9% to 7.34 euros each, while Chevron shares were little changed in after-hours trading.


Chevron to trim 1,500 employees
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