Chevron Australia has started a round of redundancies, as it delivers on a mandate from US-based parent company Chevron Corporation to cut its global workforce by up to 20 per cent.
Chevron Australia has started a round of redundancies, as it delivers on a mandate from US-based parent company Chevron Corporation to cut its global workforce by up to 20 per cent.
Cuts have been on the cards at Chevron since February, when the global LNG firm announced its plan to slash its workforce around the world by one-fifth as part of an efficiency drive.
The local impacts were not immediately clear but Australian management – now led by newly appointed chief executive and president Balaji Krishnamurthy – did not rule out cuts.
Business News understands redundancies will take place across two rounds, with the first to be delivered by the end of July.
It is not known how many local jobs will be affected.
In a statement, a Chevron spokesperson told Business News the company was taking action to simplify its organisational structure and position the business for longer-term growth.
“Globally, the company is looking to deliver US$2 to $3 billion in structural cost reductions by the end of 2026, largely through optimising our portfolio, leveraging technology to enhance productivity, and changing how and where work is performed,” they said.
“In line with these goals, changes to our organisational structure are being made, and these are likely to result in a reduction of 15 to 20 per cent in our global workforce, including a reduction to our Australian workforce.”
The spokesperson said the business would seek to support those affected.
“Our priority is to support our employees through this process with respect and care,” the spokesperson said.
“We will seek to redeploy people within the company where possible, and we will provide severance and career transition services when required.”
The redundancies come at the same time as Chevron is delivering on an engineering centre of excellence in Bengaluru, India, which it says will allow greater consistency across its global portfolio.
The announcement of that facility has prompted backlash from local unions, who have accused Chevron of planning to offshore domestic engineering jobs to the subcontinent.
Chevron has previously played down those claims and says the facility will support its global operations through innovation in engineering and artificial intelligence.
The company employs more than 40,000 people around the world.
Its Australian arm, which operates the Gorgon and Wheatstone LNG facilities in WA, returned an $8 billion dividend to the parent company earlier this year, taken largely from profit of $8.4 billion which was generated across calendar year 2024.
