Energy giant Chevron has confirmed plans to lay off 200 employees in Texas, a move detailed in recent filings with the Texas Workforce Commission. These cuts are part of a larger, globally implemented strategy to reduce Chevron’s workforce by up to 20% by the end of 2026.

The affected employees are based in Midland County, a key operational hub for Chevron within the prolific Permian Basin, America’s most productive oilfield. The layoffs are scheduled for July 15th, according to official notices.

Chevron initially announced its global workforce reduction plan in February, citing a need to streamline operations and cut costs. However, recent challenges, including the revocation of its Venezuelan operating license and uncertainty surrounding its proposed $53 billion acquisition of Hess (currently stalled due to an arbitration dispute), have likely added further pressure to the company’s restructuring efforts.

This significant job reduction in Texas underscores the ongoing complexities facing the oil and gas industry, highlighting the need for strategic adjustments in the face of fluctuating market conditions and geopolitical events.