Chevron is bleeding, announces massive layoffs

Low oil prices are hurting US-based oil giant Chevron, which sees a massive drop in revenue in its third quarter. Although the results were not quite as bad as expected, thousands of workers are set to be out of a job, the company’s interim report reveals.

BY RITZAU FINANS

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Halvor Sveen is chief executive of Oslo-based shipping bank Maritime & Merchant. | Photo: Marine Money/Oscar May

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