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Chevron Preps for Layoffs as it Moves to Unload Appalachian Biz
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Chevron Corp. is getting ready to cut jobs in its Appalachian sector, according to multiple reports.
The company will be eliminating ~320 total jobs as it moves to sell off its business in the region.
According to a report by Reuters, Chevron will be offering severance packages and outplacement services to those laid off.
Earlier this year, Chevron announced it had taken a $8.2 billion impairment hit, which was primarily associated with Appalachia shale and Big Foot.
Chevron increased its rig count in Appalachia from one rig in 2018 up to three rigs in the last quarter of 2019. They have since layed down one rig and are averaging two running as of January 2020.
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