Twenty-five percent of Chevron Nigeria Limited will be sacked, the company declared on Friday.
It said the slash was due to review of its manpower requirement going by the changing business environment.
In a statement on Friday titled ‘Chevron Nigeria Limited reviews workforce in accordance with business exigencies,’ by its General Manager Policy, Government and Public Affairs, Esimaje Brikinn, the oil giants 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 added: “It is important to note that all our employees will retain their employment until the reorganisation process is completed.
“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.”