Chevron Will Lay Off Up To 20% Of Employees—Impacting Up To 9,100
ForbesFEB 5
Chevron to Cut 20% of Workforce in Major Restructuring
Above: A Chevron gas stationed that burned during the Eaton fire is seen in the Altadena area of LA county, CA on Jan. 21, 2025. Image copyright: Josh Edelson/Contributor/AFP via Getty Images
The Spin
Pro-establishment narrative
Facing headwinds of declining earnings forecasts and lagging performance behind competitors, Chevron's workforce reduction is a strategic necessity. This difficult but calculated move aims to sharpen operational efficiency and secure long-term growth.
Establishment-critical narrative
Bottom 5% layoffs are a flawed and desperate move that damage a company's viability in the long run. Creating a climate of fear, in which employees cannot trust the security of their employers, results in a worse overall performance from workers for the sake of appearing to take commercial action.
Metaculus Prediction
There is a 98% chance that, before 2027, a federal court of appeals will overturn a pre-Loper Bright decision that relied on Chevron deference, citing the Supreme Court’s ruling in Loper Bright as the primary reason, according to the Metaculus prediction community.
