California-based oil multinational Chevron is axing almost 700 jobs in Houston, Texas, according to the Houston Chronicle.
The San Ramon-headquartered supermajor is implementing this latest round of layoffs because of the crash in crude prices.
The released figure of 655 redundancies is part of a planned 4,000-person slashing of the workforce across the entire company this year alone.
Combined with last year’s pruning that comes to around 7,000, 10 per cent of its staff let go since the end of 2014.
