The Chevron Nigeria Limited is planning to downsize its workforce by 25 per cent.
The oil major says it is reviewing its manpower requirements because of the changing business environment.
In a statement on Friday titled ‘Chevron Nigeria Limited reviews workforce in accordance with business exigencies,’ the CNL said it would continue to evaluate opportunities to improve capital efficiency and reduce operating costs.
The General Manager Policy, Government and Public Affairs of the compqny, Esimaje Brikinn, said: “The aim is to have a business that is competitive and have an appropriately sized organisation with improved processes.
“This will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the Federal Government of Nigeria.”
He maintained that the new organisational structures, unfortunately, will require approximately 25 per cent reduction in the work force across the various levels of the organisation.
“It is important to note that all our employees will retain their employment until the reorganisation process is completed,” Brikinn said.
According to him, there were no plans to migrate Nigerian jobs outside the country.
He said: “We have prospects for our company in Nigeria; however, we must make the necessary adjustments in light of the prevailing business climate; and we need everyone’s support to get through these tough times stronger, more efficient and more profitable, in order to sustain the business.
“We are actively engaging our workforce to ensure they understand why this is being done. We will continue to consistently engage all relevant stakeholders, including the leadership of the employee unions as we continue this process of business optimisation.”