Chevron Nigeria Limited is set to slash its workforce by 25 per cent, a statement from the oil firm said on Friday.
The firm in a statement titled ‘Chevron Nigeria Limited reviews workforce in accordance with business exigencies’ said the decision follows a review of its manpower requirements in light of the changing business environment.
The oil major said it would continue to evaluate opportunities to improve capital efficiency and reduce operating costs.
General Manager Policy, Government and Public Affairs, Esimaje Brikinn, said, “the aim is to have a business that is competitive and have an appropriately sized organisation with improved processes.
“This will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the Federal Government of Nigeria.”
According to him, the new organisational structures will, unfortunately, require approximately 25 per cent reduction in the work force across the various levels of the organisation.
“It is important to note that all our employees will retain their employment until the reorganisation process is completed,” Brikinn said.
He said there are no plans to migrate Nigerian jobs outside the country.
“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,” he said.
Chevron continues to actively engage its workforce to ensure they understand why this is being done. The company says it will continue to consistently engage all relevant stakeholders, including the leadership of the employee unions as it continues this process of business optimisation.”