Chevron Nigeria Limited (CNL) has announced that it will slash its workforce by 25 per cent as it is reviewing its manpower requirements in light of the changing business environment.

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CNL made the disclosure in a statement titled ‘Chevron Nigeria Limited reviews workforce in accordance with business exigencies’.

The oil company stated that it would continue to evaluate opportunities to improve capital efficiency and reduce operating costs.

CNL’s General Manager Policy, Government and Public Affairs, Esimaje Brikinn, 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.”

According to him, the new organisational structures will, unfortunately, require approximately 25 per cent reduction in the workforce across the various levels of the organisation.

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“It is important to note that all our employees will retain their employment until the reorganisation process is completed,” Brikinn said.

He said there were no plans to migrate Nigerian jobs outside the country.

He said, “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.”