Along with others, Chevron Corporations says that they will cut an estimated amount of 2,000 jobs this year alone and will continue reducing its work force through the next year. Not only will this effect the unemployment rate for the nation, but it will increase the production of Chevron. Chevron, being the nation's second largest oil producer, revealed the cuts as it outlined corporate strategy and major capital projects Tuesday in a meeting with a financial analysts in New York, says the Associated Press of Yahoo News. CEO John Watson says due to this decision to lay off workers, this will poise for another decade of growth. The company expects to shift its portfolio toward natural gas and Asia. This will do lots for the economy, effect unemployment, people's demand/needs, and increase inflation due to the increasing investment of Chevron.
Tuesday, March 9, 2010
Chevron adding to the Unemployment
Along with others, Chevron Corporations says that they will cut an estimated amount of 2,000 jobs this year alone and will continue reducing its work force through the next year. Not only will this effect the unemployment rate for the nation, but it will increase the production of Chevron. Chevron, being the nation's second largest oil producer, revealed the cuts as it outlined corporate strategy and major capital projects Tuesday in a meeting with a financial analysts in New York, says the Associated Press of Yahoo News. CEO John Watson says due to this decision to lay off workers, this will poise for another decade of growth. The company expects to shift its portfolio toward natural gas and Asia. This will do lots for the economy, effect unemployment, people's demand/needs, and increase inflation due to the increasing investment of Chevron.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment