Chevron Nigeria Limited has concluded plans to sack 25 per cent of its workforce in Nigeria.
CNL said the slash was due to review of its manpower requirement going by the changing business environment.
The oil major in a statement on Friday by its General Manager, Policy, Government and Public Affairs, Esimaje Brikinn, said it would continue to evaluate opportunities to improve capital efficiency and reduce operating costs.
Brikinn explained that CNL was in alignment with both its Joint venture partners, the NNPC and Department of Petroleum Resources,
He 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.
“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.”