Home BUSINESS OIL & GAS Economic Downturn: Oil Giant, Chevron, Moves To Sack 25 Percent Of Its...

Economic Downturn: Oil Giant, Chevron, Moves To Sack 25 Percent Of Its Workforce

Oil giant, Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL together with its affiliates, has confirmed that it is reviewing its manpower requirements in the light of the changing business environment.

The International Oil Company (IOC) said that it had concluded plans to disengaging 25 per cent of its total staff in a decision it said was to aid its long term survival, following the recent downturn in the oil industry.

The company said that it is continuing to evaluate opportunities to improve capital efficiency and reduce operating costs, stressing that in the process, the company will be streamlining its workforce and improving service delivery and overall performance at all levels.

CNL’s General Manager, Policy, Government and Public Affairs, Esimaje Brikinn, in a statement today, October 2, explained that the aim is to have a business that is competitive and have an appropriately sized organisation with improved processes.

He said that the move will increase efficiency and effectiveness, retain value, reduce cost, and generate more revenue for the federal government of Nigeria.

According to him, the new organisational structures will require just about 25 percent 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.

“CNL supports the federal government in its objectives and efforts to build a prosperous Nigeria. In the area of employment generation, the company has several social investments which are helping to provide employment for thousands of Nigerians.”

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Brikinn said that there are no plans to migrate Nigerian jobs outside the country, saying: “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,” CNL noted.

The statement said that CNL is in alignment with both its Joint Venture partners, the NNPC, and the Department of Petroleum Resources (DPR) in the entire process.

“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.

“At CNL, the welfare and safety of our workforce is one of our highest priorities. Making changes to the organisation is never easy for anyone that will be impacted.

“But it is necessary to improve our ability to remain competitive in Nigeria. Reducing the cost and improving the efficiency of our operations is critical to generating more revenues for the federal government of Nigeria.”

Editorial staff
Editorial Staff at Greenbarge Reporters is member of a team of journalists led by Editor-in-Chief, Yusuf Ozi Usman.

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