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Business & Finance

Reuters reveals Chevron to lay off about 25% of Noble Energy employees after merger

Reuters reported exclusively that Chevron Corp will lay off about 25% of Noble Energy’s employees who joined the oil major after its $4.1 billion purchase of the smaller rival in October. A collapse in crude oil prices has forced most oil and gas producers to drastically cut costs by laying off thousands of employees and cutting down on drilling. For many companies, consolidation with larger players at low or no premiums is becoming the only option to survive.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & EnergyEquities
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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