Chevron to cut 1,500 jobs, mostly at two corporate centers

• Chevron (NYSE:CVX) says it plans to eliminate ~1,500 jobs worldwide, including 950 in Houston and 500 at its San Ramon, Calif., corporate HQ, plus another ~600 staff contractors, amid the ongoing environment of low oil prices.
• CVX says the cuts are aimed at increasing efficiency, reducing costs and focusing on work that directly supports business priorities, with $1B in cost reduction targets through corporate center cost reductions.