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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
4,000 jobs to go as Chevron takes over Texaco
Chevron, the US oil group is to axe about 4,000 jobs in a cost-cutting drive following its $35.6bn (£25.4bn) takeover of rival Texaco. The heaviest job losses are expected at Texaco's headquarters and in the exploration businesses. The companies say they can make annual cost savings of at least $1.2bn within nine months of the merger.
News Item details
Websites:
http://www.guardian.co.uk
Keywords: Stocks - Mergers and Acquisitions
Countries: USA -
Organisation: Texaco|Chevron
Subjects: Economics, business and commerce, Oil, Recruitment, Jobs
