Double, double oil and trouble as layoff axe falls on Jurong Island

Anita Gabriel

Published Thu, Nov 12, 2020 · 09:50 PM

Singapore

US oil giant Chevron could slash at least 10 per cent of jobs in its Singapore operations - just days after Shell announced it would cut 500 jobs here.

The second largest integrated energy company in the US said it planned to trim 10-15 per cent of its global workforce as part of a plan to cut operating costs as well as capital investments to "match projected activity levels".

Its cost-cutting plan to streamline the organisation and Shell's re-pivot come amid a prolonged oil slump and the Covid-19 pandemic which have sparked mass job losses in the sector.

Chevron's cut of about 6,000 out of nearly …