Chevron announces significant job cuts

01.29 13 Februari 2025

Chevron (CVX.US) has announced a significant workforce reduction, affecting approximately 15-20% of its employees, which translates to around 6,000-8,000 jobs. According to company representatives, this move is part of a cost-cutting strategy aimed at improving cash flow generation rather than a sign of financial distress.

Over the past two years, Chevron has focused heavily on enhancing cash returns to shareholders. The company has conducted $30 billion worth of share buybacks, reducing its outstanding shares by approximately 10%. Additionally, since 2020, Chevron has accelerated its dividend growth rate, and with the current quarterly dividend of $1.71 per share, the implied dividend yield stands at 4.4%.

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Chevron's stock price declined slightly by around 1.6% following the announcement. As a result, the price approached the $155 support zone. A trendline connecting previous local lows suggests stronger support at $151, further reinforced by the upper boundary of the October 2024 consolidation range.


Chevron's stock price declined slightly by around 1.6% following the announcement. As a result, the price approached the $155 support zone. A trendline connecting previous local lows suggests stronger support at $151, further reinforced by the upper boundary of the October 2024 consolidation range. Source: xStation

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Instrumen keuangan yang kami tawarkan, khususnya derivatif, berisiko tinggi. Saham Fraksional (FS) merupakan hak fidusia yang diperoleh dari XTB atas bagian saham fraksional dan ETF. FS bukanlah instrumen keuangan yang terpisah. Hak korporasi yang terbatas dikaitkan dengan FS.
PT XTB Indonesia Berjangka berlisensi dan diawasi oleh BAPPEBTI